Ascending triangle with 5 hit points, so I am waiting for a break out at the 6th, 7th or 8th. Ascending triangles are bullish, but the very good previous structure on both sides suggests to me that it could break out either way, so I will be open to trading either break (looking for a close outside of the triangle). Profit targets are obviously at the previous...
Hello Traders, After a steep decline in the FX:SPX500 for the first 4 weeks of the new year, this market has been in a consolidation zone for the past 8 days. After further analysis, we can see an ascending triangle being formed, which is type of a consolidation zone pattern. In this pattern we have a strong resistance level and a number of higher lows...
I'm looking for price to retest .6541. The overall trend has been really bearish and expecting that to continue. With that said, I want to see price test the .6541 area and reject on a 240 candle. I am going to wait after the 240 close on the test before getting short. I would have my stop just above the structure area around .6575 just in case of a fake out. I'm...
SCTY is a very erratic stock that can be sent flying or diving and usually follows patterns and triangles very well. I see it going down a bit on the triangle in the next few days or so and then continuing. I'm in right now but I'm going to probably sell tomorrow and get in on the next low and long until 40ish. Solar companies also received good news from Nevada...
There is an ascending triangle on the 240 min chart. Bitcoin is in a nice up trend. If we see a break above 468.00, I'm looking to get long. There is some resistance right at 500. So if you miss the breakout to the up side I could see price retracing back to 470's to get long. I would take profits at 600.00 around that weekly resistance area. On the downside if...
WE have a double top, cant cross the 0.168 fibo level and the alligator start to open up... BUY
Criteria meeting long set up: - low test bar close - support at ~4450 - trend line support (third test) - rejection of 200 ema - ascending triangle pattern entry - above high of low test bar stop loss - below low of low test bar target - at next resistance level or higher
Went short on USD/RUB based on the consolidation inside the ascending triangle pattern. Entered at 71.1087 with stop-loss at 72.05 and take-profit at 67.12. More info and timely updates: www.earnforex.com
There is a very nice potential rally on FX:AUDUSD . As we see price has broken a bearish trend @0.7021, then made a pullback, then tested the high @0.7040 and now is ranging in ascending triangle. If the price breaks the triangle and makes HHHC, then we are in a bullish market. Our potential target is next structure @0.7096 with the confluence of 1.618 fibs...
I predict that a long trade would be most suitable in the next two days because of the formation of an ascending triangle pattern. This ascending triangle holds a resistance level at 124.560 which has only been tested a few times. As the resistance level does not hold such a high significance, it is more possible for the break-out of this pattern to result in an...
Hello Traders, After seeing FX:GBPUSD consolidate within a range for the past 30 days, we have gotten the emergence of 3 Simple Chart Patterns that could present us with good opportunities to LONG on this particular pair. I have color coded all 3 Chart Patterns in the chart above, just to make it visually easier for everyone. I will walk you guys through...
Last week the dollar weakened prior to FOMC, helping the Cable rise during the first three days of the week. The UK GDP coming out as expected also supported the rise; illustrating the economy is doing well. In the FOMC statement on Wednesday the FED referred to solid job creation and said there will be an increase in interest rates following 'some further'...
Update 2: Stopped Out Update 1: Close above highs - Trade is Active Possible Wolfe wave setup on GBPNZD. Long on 60m close above recent highs. After resistance at 2.339 is broken there is little to hold the pair back from reaching the 2.36-2.37 TP zone. Trade will become invalid if price closes below bottom of parallel channel.
Twitter may be finally showing some signs of strength by putting in higher lows and repeatedly testing the previous support now turned resistance. Will be looking for a confirmation of the trendline or a break of the resistance on high volume.
Last one for the evening. It looks like TWTR is breaking its lower trendline on the ascending triangle pattern it was putting in. The small wick at the top of today's candle stick could have been a backtest of the trendline and appears to be forming a bear pennant formation in the short term. Will be waiting for confirmation that it is going to continue to the...
Just noticed this interesting pattern. Price is pressing up against $224, but if it doesn't break out soon, then it's not going to.
It looks like an ascending triangle could mark the beginning of the small rise I was expecting to re-test the recent highs, touching the long-term downtrend line, which we haven't done yet. These mid-range trades are a bit risky, but the signals are clear enough if it breaks $264. If you take this trade, it would probably be best to keep tight stops at $255-$258.