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Ascending

SPY expanded visuals on previous post (Ascending Wedge)So i decided to expand upon my previous post which ill link in this one and this one in the other, so regardless if this pans out or not, for educational purposes. this would be the way to play this type of set up. imo not all flags, pennants, wedges, triangles are created equal. there is A+ B+ C+ and D+ patterns. factors depend on things like volume, volume increasing at the right times and decreasing at the right times (ie. in a bull flag decreasing volume on the pull backs and increased volume on the break is an example) (example 2- on an ascending triangle *bullish* on higher time frames, to much "white" isnt the greatest, the more times it hits resistance the greater the break out potentially) *white*= the white space in between resistance taps. often times when the intial break out happens, it goes back up for the retest. stop loss would be where it would break out and make this invalid, depending on risk or preference you dont have to put the stop EXACTLY on the level as false breaks could stop you out, but i digress, different traders tweak little tings to their style and preferences. TP 1 is the blue (4hr) support zone. second is the purple (1hr support zone). how did i get these levels? the measured move. where take the low to the high from the beginning of the wedge. and put that at the break out of the wedge. and it just so happens to go to those support levels ive had up for days. anyway just wanted to post so i could share a concise and consolidated explanation with visuals. Happy Trading! Cheers.
AMEX:SPY
by Jbridgez
1
LTCUSDT needs to hold the support!LTCUSDT has been testing a key level in the 100$ area, where there is a weekly resistance level. This level has proven to be significant in the past, and it's possible that buyers are struggling to push the price higher. Furthermore, the price has lost its dynamic support and is now testing it as a new resistance level. If the price were to lose this support and retest it as a new resistance level, it would signal a potential shift in market sentiment from bullish to bearish. In this scenario, traders may consider applying Plancton's Rules, a trading strategy that involves taking a short position when a market experiences a significant price drop. It's important to note that this scenario would only apply if the price were to lose its support and retest it as a new resistance level. If the price were to hold its support and continue to push higher, it could signal that buyers are still interested in entering the market and that there is potential for further gains. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
12
Bitcoin's Ascending Wedge: Will it Breakout or Breakdown?Bitcoin has formed an ascending wedge pattern, where the price is trending upward within a narrowing range. If it breaks below the lower trend line, it could reach the targets mentioned. If the price bounces off the lower trend line and touches the upper trend line, it could potentially break through and flip it as a support level, indicating a continued upward movement or it could come down again, and retest the lower trend line. A pullback is often seen as a sign of a healthy and sustainable upward trend. Read my attached analysis for further updates on Bitcoin's performance.
by saad0polis
1
WMT - Broadening Wedge - BearishWMT is currently showing an ascending broadening wedge pattern on daily timeframe. An ascending broadening wedge is a bearish reversal chart pattern. Where the upper line is the resistance line and the lower line is the support line. As we can see in the chart that its moves increase with higher magnitudes. This pattern should be traded when the price breaks out of the support line. In our opinion, it´s likely for the price to retrace and break out of the support line. When the price breaks out of the support line, a short position can be taken and the target can be targeted. All the details are shown on the chart. Goodluck!
NYSE:WMTShort
by vf_investment
2
AUDUSD can move lower? 🦐AUDUSD on the 4h chart moved between 2 ascending trendline. The price has recently broke the lower trendline and is trading over a daily support at the 0.66500 level. How can i approach this scenario? I will wait for a possible break and test of the support area and IF that will happen i will look for a nice short order according to the Plancton's strategy rules. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
by InkyGrip
4
LITUSDT - Short - Broadening wedgeLIT is currently forming an ascending broadening wedge on 4h timeframe. An ascending broadening wedge is a bearish reversal chart pattern. Where the upper line of the wedge acts like a resistance and the lower line acts as a support. Looking at the chart we can see the RSI is suggesting an overbought condition. So it´s likely for the price to go down. Also we can see at 04:00 there was a lot of pressure from the sellers. So the price is most likely to go down. First target one should be prioritized. When the price breaks out of the pattern the final target could be considered. All the details are shown on the chart. Goodluck!
Short
by vf_investment
3
LINKUSDT needs to hold the supports!The price is testing the 4h support inside a ascending channel on the daily timeframe. The price had a big rejection from, the 7.8$ area and now the market is trying to hold the daily dynamic support and static 4h static support as well How to approach? IF the price is going to lose the support and retest it as new resistance, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ black structure -> <= 1h structure. ––––– Follow the Shrimp 🦐
by InkyGrip
8
Football - Long Term PlanFootball is a very good instrument for those who want to have a diversified crypto portfolio which is less likely to be correlated with broader crypto market as the instrument follows the price action of its fan tokens constituents. For the long run is always good to have some in your trading portfolio. Looking at its current set-up, 4H timeframe formed an ascending trendline. If it breaks it there is room for further declines. Around $1000 is a good buy area for a rebound. Operate with tight stoploss as market is choppy
F
by crypto_angelz
ENPH- Triangle Breakout - UpdateThe solar sector has been leading the broader markets for some time now, very much eyeing ENPH along with some others in the sector for a run-up & breakout prior to, and after their earnings. ENPH is holding a big symmetrical triangle on the daily timeframe after closing on Friday sitting on its 20-Day SMA. ENPH additionally has some nice bullish divergence on the RSI on the daily timeframe, as well as holding an ascending triangle on the 4-Hour timeframe after forming a bullish butterfly harmonic pattern (See Attached Chart Below). Bullish and will be looking for a breakout from this triangle (Broader Market Conditions Permitting)- Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime- See previous charts attached below for previous price targets. 4-Hour Timeframe --Previously Charted-- PT1- $198.17 PT2- $200.85 PT3- $203.22 PT4- $206.60 +
NASDAQ:ENPHLong
by jacobosiason7
10
CRVUSDT is testing a key levelTheprice had a nice bounce from the weekly support on 0.52$ area and started with ascending channel until the 0.786 Fibonacci level resistance on the 4h Obrder block. the market created a minor ascending channel and now the price is testing the resistance. How to approach it? IF the price is going to lose the support and retest it as new resistance, we could see a retracement until 0.382-0.618 Fibonacci Level, so According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip