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Ascending Triangle

GMX high trader grade on token MetricsGMX presents a bullish opportunity with positive indications from the Token Metrics Trader Grade ratings and chart analysis. The price action on GMX is forming an ascending triangle pattern, suggesting a higher likelihood of a breakout to the upside. Based on this pattern, the measured move indicates a potential gain of 42%. Additionally, there is a noticeable gap in the Volume-Weighted Price (VRP) all the way up to the measured move level, indicating potential momentum for further upward movement. When considering the technical indicators, both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) suggest the possibility of a retracement towards the lower boundary of the triangle. This could be considered a riskier entry point but offers greater potential rewards. Alternatively, a more conservative approach would be to wait for the price to break above the upper boundary of the triangle and retest it as support. Setting alerts on both the upper and lower trendlines would be prudent. Monitoring smaller timeframes like the 5-minute chart can provide additional insights for determining an entry point. Overall, GMX appears to have a bullish outlook with multiple factors aligning in favor of a potential upward move. As with any trading decision, it's important to conduct thorough analysis and consider personal risk tolerance before entering a trade.
Long
by Fermented_Crypto
NIFTY ASCENDING TRIANGLE - 04/07/2023NIFTY50 Formed ASCENDING TRIANGLE PATTERN BUY ABOVE - 19330 SL - 19290 TARGETS - 19400,19470,19540 SELL BELOW - 19290 SL - 19330 TARGETS - 19250,19200,19160 Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. HAPPY TRADING GUYS
NSE:NIFTY
by Jagadheesh_JP
5
Bitcoin - Parabolic phases (1 million USD in 2044) As per my calculations, the price of Bitcoin will be 1 million USD in 2044, which is 21 years ahead. And it's still a pretty optimistic price target, in my opinion. Please do not expect some big parabolic phase to reach 500,000 USD in the next few months or years. This is not going to happen because you are too late for the party. In 2017, the crypto bubble popped, and phase 2 of the parabolic phase ended. 2017 was historically the biggest year for altcoins and bitcoin. Everything went up, including scam coins, and it will never be like this again. Now Bitcoin is in phase 3 / phase 4. Phase 3 is not sustainable because otherwise Bitcoin could hit 100 million USD in 10 years. Just calculate the market cap; it doesn't make any sense. That's why I am sober all the time and focus on realistic price targets. Bitcoin is still a good investment, and you can trade the major cycles. Buy low, sell high. It's easy to say, but it's not that easy for the majority of market participants. If phase 4 of the parabolic cycle breaks, then it's likely for Bitcoin to go sideways for 5–10 years, but in my opinion, it's not going to happen because the trendline of the parallel channel is pretty low, and with the current date, Bitcoin has to drop below 4700 dollars, which is not going to happen. This is a very realistic technical analysis. 1 million USD in 2044 is not impossible, but the majority of retail trade thinks that 1 million should be hit in a few years.  In approx. 2140, all Bitcoins should be mined, and there will be no new BTC mined at all. Miners will receive rewards from the transactions of chain users. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. Thank you, and for more ideas, hit "Like" and "Follow"!
BITSTAMP:BTCUSD
by UnknownUnicorn2537518
118
Shree Cement: Ascending Triangle Breakout and RetestShree Cement(stock symbol: SHREECEM) has been forming an ascending triangle pattern since April 2022, but recently it broke the pattern with a gap down. However, it managed to recover and is currently retesting the lower trendline. During this retesting phase, the stock is forming dojis, which could potentially act as a trigger for a further move. To implement a trading strategy, a stop-loss (SL) could be placed above the high of the doji, while the target levels are set at 22,623 as the first target and 21,853 as the second target. Note: It's important to keep in mind that financial decisions should not be solely based on patterns or technical analysis, as market conditions are subject to change. It's advisable to conduct thorough research and consult with a financial advisor before making any investment decisions.
NSE:SHREECEMShort
by JigarHathiyani
USDJPY What will happen in the near future?🌟The USDJPY is in a Bullish phase by ⤵️⤵️ 🌟 Bullish signals are: - Bullish Cup & Handle - Bullish Pennant - Dynamic Support zone - Pivot R1 monthly - Ascending Triangle - moving EMA 20 50 ✅TARGETS: 142,148 ⭐ Note if the PRZ is broken downwards with the strength of Bearish candles from bottom Of the PRZ zone , this analysis of ours will be failed. ⏮️Previous Analysis⏮️ ✅If this post was useful for you, like it ❤️ and if you think it is useful for your friends, be sure to send it to them. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🌍Thank you for seeing idea . Have a nice day and Good luck.
Long
by CobraVanguard
7
BNB 4HWith all the news surrounding Binance and its SEC battle that lay ahead I thought I'd look at a potential BNB trade. We've seen the coin drop from the $300 mark in a pattern of huge sell off followed by consolidation, then sell off again until we've reached the ascending triangle pattern I have shown on the chart. This pattern is very close to breaking down and I think will result in a retest of the Local low that was set at the end of last year and was briefly tagged recently on June 12th. There is a clear range that can be split into quarters to help mange this trade. If the triangle pattern is lost, the midpoint will need to provide support, if it does not BNB will retest the $220 in my opinion. From there $180 is the last chance at support as it's nothing but air after that, BNB will be in freefall. On the bullish side all this downwards price action has left a lot of inefficiencies in price that will eventually be revisited, I just don't think it will be soon given the outside forces acting upon the coin. If BTC has a huge rally from here that's BNB's only hope.
BINANCE:BNBUSDShort
by ProR35
ETHUSDT ASCENDING TRIANGLEI'm sorry but the target does not fit in to the chart. As you can see, the overall situation in the crypto market is not looking very healthy, We have here a very simple setup, we combine: - RSI Bearish divergence. - Uptrend with decreasing volume. - Failure to break major resistance of 2000$. - Bitcoin selling at less than 25000$. And for the previous reasons, I would consider opening a short here with targets 1370$ 890$ and 285$ (high before 2020 market crash). For entering, there is various options, you can enter now or wait for a confirmation like for example, the breakdown of the trend-line and a retest. This trend-line is acting as a strong support so It might take a few days to see a breakout, however, this setup can be wrong, nothing is infallible, no trader wins 100% of the time so please, remember that the first thing is to protect your capital. It's recommended to set a stop loss at 1790$.
Short
by piccard54
2
📈 HOW TO: ASCENDING TRIANGLE PATTERN📍 What Is an Ascending Triangle? This pattern emerges when the price movement allows for a horizontal line to be drawn across the swing highs, while a rising trendline is drawn along the swing lows. These two lines together form a triangle shape. Traders actively monitor triangle patterns for potential breakouts, which can occur either upward or downward. Ascending triangles are often referred to as continuation patterns because they typically result in a breakout in the same direction as the prevailing trend that was present before the triangle formation. This pattern offers traders a clear entry point, profit target, and stop-loss level, making it a tradable opportunity. It is worth noting that an ascending triangle can be distinguished from a descending triangle. 📍 How to Identify and Use the Ascending Triangle Candlestick pattern To identify the ascending triangle pattern, you need to look for a period of price consolidation within an ongoing uptrend. During this phase, the price will exhibit a series of lower highs and higher lows, indicating a temporary balance between buyers and sellers. The upper resistance line of the pattern can be found by connecting at least two highs within the consolidation phase, while a rising trendline is drawn by connecting at least two higher lows. Confirming the pattern involves ensuring that the price was in a clear uptrend before the consolidation phase, the upper resistance line is horizontal or slightly slanted upward, and the rising trendline intersects with the upper resistance line. Additionally, analyzing candlestick patterns within the consolidation phase, such as doji, hammer, or engulfing patterns, can provide further confirmation of buying pressure. Once the ascending triangle pattern is confirmed, traders can set their entry and exit points. Typically, a long position is entered when the price breaks above the upper resistance line, indicating a bullish breakout. The height of the triangle pattern can be used to estimate a target price level, and a stop-loss order should be placed below the pattern to manage risk. 💥 Key Takeaways 🔹 Ascending triangles are considered a continuation pattern, as the price will typically break out of the triangle in the price direction prevailing before the triangle, although this won't always occur. 🔹 The trendlines of a triangle need to run along at least two swing highs and two swing lows. 🔹 A long trade is taken if the price breaks above the top of the pattern. 🔹 A short trade is taken if the price breaks below the lower trendline. 🔹 A profit target is calculated by taking the height of the triangle, at its thickest point, and adding or subtracting that to/from the breakout point. 🔹 A stop loss is typically placed just outside the pattern on the opposite side from the breakout. 👤 @QuantVue 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
3
Ascending Triangle Pattern In GodrejConsumerPr(Daily Timeframe)!We can see the Godrej Consumer Pr is making ASCENDING TRIANGLE PATTERN in daily timeframe. We know ASCENDING TRIANGLE PATTERN is bullish pattern so i am avoiding to take sell side position. This is my personal reason to take only Long side trade if price breakes and closes above 986.30 level. The stock is in consolidation zone about 16 months. So as per my understanding it has gain sufficient momentum to show the upside rally in further trading sessions. Entry = One can initiate the trade in the long side if prices successfully breaks and closes above 986.30 StopLoss = Stop Loss below 943.10. The reason behind placeing stoploss below its recent support level because i have seen many times the price could take support exactly at recent support level and went up so to avoid Stop Loss to be hit i have given some buffer/ Tolerance to the Stop Loss. I always believe in Factor of Safety. Target = I have marked 2 targets (1)1071.55 (2)1137.85. But you can exit your trade if price is about to hit your target levels. If your 85% - 90% target achieved then you can exit from your trade to avoid further volatility(If you want to play safe).
NSE:GODREJCPLong
by Avinash9087
APTOS TOKEN UNLOCKAPT has a token unlock fast approaching, 0.45% of the total supply (4.5m APT) is to be unlocked at 0.5:30 UTC on 12th June 2023. Here are my thoughts going into this event, how I feel the market will react as well as key areas to look out for. Firstly looking back to the latest APT token unlock back in January. We saw initial sell side pressure as new tokens flood the market, a gradual decline in price throughout the day ending in a -9% drawdown. However the days that followed were very bullish, with APT climbing approximately 40% the following week post unlock. This is not unnatural price movement during an unlock event, so although not guaranteed, we can assume similar will happen this time too. As the chart shows price is currently following a triangle pattern capped by a local high of $9.00 that is being tested as I write this post. Just above is a bearish orderblock created by a price action imbalance and happens to create a good midpoint for the short term range we find ourselves in. This area will be a large obstacle for APT and in my opinion will cap off the short term rally we have had going into the unlock. Then as we approach June 12th, price sells off temporarily due to high sell side pressure of a large influx of new coins. Before buyers react and look to attack that midpoint once more with new buyers that happily bought lower during the unlock event, perhaps using the 4H 200ema as new support that has now upturned and looking bullish. These are just my thoughts on the upcoming event, in reality nobody knows what the future holds however the past can be used to learn from. DYOR NFA
by ProR35
1
BETA/USDT WCA - Ascending Triangle Company: Beta Finance Ticker: BETA Exchange: Binance Sector: Cryptocurrency Introduction: Today's technical analysis will be focusing on BETA/USDT trading pair on Binance exchange. Despite being a relatively new coin, an exciting pattern has developed on its weekly chart that may imply a change in the prevailing downtrend. Ascending Triangle Pattern: The Ascending Triangle pattern, typically recognized during periods of consolidation,can be viewed as a bullish pattern or bearish pattern. It is characterized by a horizontal resistance line, and an ascending support line. Analysis: BETA/USDT has experienced a significant downtrend since its inception, which is represented by the blue diagonal line. We see that a consolidation phase interrupted this downtrend, forming an Ascending Triangle pattern. The horizontal resistance is at 0.12131 with four touchpoints, while the ascending support line has five touchpoints. Due to the relatively young age of the chart (86 weeks old), the EMA calculation has been adjusted to a 21-week EMA. The price appears to be consolidating above this EMA, suggesting a bullish environment. If the price successfully breaks above the horizontal resistance, we could consider entering a long position. The projected price target would then be at 0.18625, indicating a potential upside of approximately 53.61%. Conclusion: BETA/USDT's weekly chart reveals an interesting setup in the form of an Ascending Triangle, suggesting a possible end to the current downtrend. This setup could present a profitable long trading opportunity. Disclaimer: This analysis is not financial advice and is intended for educational purposes only. Always do your own research and consult with a financial advisor before making investment decisions. If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you profitable trading! Best regards, Karim Subhieh
by KarimSubhieh
3
GARAN DCA - Ascending TriangleCompany: Turkiye Garanti Bankasi Ticker: GARAN Exchange: BIST Sector: Financials Introduction: Welcome to our daily technical analysis, focusing today on Turkiye Garanti Bankasi (GARAN), a leading player in the Financials sector, listed on the BIST. Ascending Triangle Pattern: This Ascending Triangle pattern forms during an uptrend and is viewed as a bullish continuation pattern. It's characterized by a horizontal resistance line (formed by equal highs) and an ascending trend line (formed by increasing lows), illustrating the rising bullish sentiment. Analysis: Garanti Bankasi's chart is displaying a clear Ascending Triangle pattern. The upper horizontal boundary sits at 31.80 TRY, with three points of contact—the third being a false breakout which underscores the importance of stop losses. The lower, upward-sloping boundary also has three touch points. Moreover, the 200 EMA is acting as robust support, suggesting a bullish environment and favoring long setups. Given these factors, we're keeping a keen eye on this chart for a potential breakout above the horizontal resistance. A breakout could present an opportunity for a long position. The price target, assuming a successful breakout, is set at 45.60 TRY, implying a potential gain of approximately 43.50%. Conclusion: Garanti Bankasi's daily chart presents an interesting setup in the form of an Ascending Triangle, indicative of a potential bullish continuation. This analysis should form part of a broader market research and risk management strategy. Remember, this is not financial advice and investing always carries risk. If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you profitable trading! Best regards, Karim Subhieh
BIST:GARAN
by KarimSubhieh