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Symmetrical Triangle

Goldman Sachs Group WCA - Symmetrical TriangleCompany: Goldman Sachs Group, Inc. Ticker: GS Exchange: NYSE Sector: Financials Introduction: In this analysis, we are examining Goldman Sachs Group, Inc. (GS) on the NYSE, a key player in the financial sector. The weekly chart indicates a potential bullish reversal in the form of a classic Symmetrical Triangle pattern that has been forming over the past 287 days. Symmetrical Triangle Pattern: The Symmetrical Triangle is usually a sign of indecision, in this case, it seems to be acting as a reversal pattern after a downward trend. Analysis: Goldman Sachs' previous trend was downward, represented by the blue resistance line. However, this downward trend seems to have been interrupted by the symmetrical triangle pattern, suggesting a potential reversal. The price is above the 200 EMA, indicating a bullish environment. Currently, it appears that the price may close above the diagonal resistance. Confirmation of this should occur when the candle closes. If it does, a long position could be considered. The price target in the event of a successful breakout would be 453, corresponding to a rise of about 32%. A minor resistance could be encountered at 420. Conclusion: Goldman Sachs' weekly chart presents a promising bullish reversal setup. If confirmed by a breakout above the diagonal resistance, this could offer an attractive long trading opportunity. Please remember, this analysis should form part of your overall market research and risk management strategy, and is not direct trading advice. If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you successful trading! Best regards, Karim Subhieh Disclaimer: This analysis is not financial advice and is intended for educational purposes only. Always conduct your own research and consult with a financial advisor before making investment decisions.
NYSE:GS
by KarimSubhieh
8
Marathon Digital Symmetrical Breakout?Mara reached a new high and fell as expected. It started trading into a wide falling wedge out of a bullish uptrend. I would think other than Bullish if it was knifing down. Found consolidation level at 17-17.60 area after double bottom bounce at 16.50ish and looking for a possible break to the upside out of a bullish symmetrical triangle. With bit coin holding 30,000 level. We could see it retest and/or reclaim $20 soon. Trade Responsible, #TradeTheWave 🏄🏽‍♂️🌊
NASDAQ:MARALong
by FinesseTheWave
XRP - Another 83% - 350% pump is very likely! (must see) Another 83% pump to 1.3244 from the current price in the next few days or weeks is more than likely! Why 1.3244? It is the next strong resistance because we have there the 0.618 Fibonacci retracement from the previous major wave. Also, there is a trendline from 2018 -> 2021, which is dynamic resistance, but it's near the specified FIB level! XRP looks very strong because bulls were able to break a falling wedge pattern and an ascending triangle pattern on the weekly chart! Together with the recent bullish news, the XRP coin surged after a judge delivered a huge win to Ripple in the SEC case. If the bulls are able to break the 1.3244 level, then the next resistance I see is the previous all-time high from 2018, which is at 3.2834. But make sure to sell your XRP here, because it's probably not going to break on the first touch. And a 50% or 70% crash from this level is very possible! The market cap of XRP is $38,028,893,068 compared to ETH $232,527,075,117 and BTC $589,643,779,223. The market cap of XRP is pretty big already, so there is not too much room for some crazy 100x profit. Make sure you understand it if you are a hodler and expecting moon gains. 350% to reach the previous all-time high is definitely possible in the medium term. What do you think about XRP? Let me know in the comment section right now! 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. XRP pumped from 0.49 to 0.92 and made a 100% profit in a single day. It was rejected by the 0.618 LOG FIB and the middle of the previous triangle from 2021. Now the price is around 0.72, which is a pretty good pullback to buy XRP. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
62
AUDNZD I Retrace upward and potential downsideWelcome back! Let me know your thoughts in the comments! ** AUDZD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
2
EURGBP → The market is getting ready to continue falling FX:EURGBP is forming a counter-trend correction to increase liquidity and accumulate potential for a possible further decline. The trend is bearish and now there are signals that could continue the trend Note the local uptrend channel. This is most likely a correction on the background of a bearish trend. Price can't go down all the time, so the market needs to make these maneuvers. The price broke through the support of the correction, we expect the price consolidation. At the moment, the support of the ascending channel and the level of 0.85412 plays a key role. Consolidation below these areas will form entry points for possible sales. The moving averages have moved towards resistance. Impulse is forming. Support levels: 0.85412 Resistance levels: the earlier broken through channel boundary, MA50, 0.86000, MA200 I expect continuation of falling after the price consolidation under the specified levels. Most likely, the trend will continue. Regards, R.Linda!
Short
by RLinda
15
💱USDCHF - Triangle. Why Should We Expect a Decline USDCHF after the retest of the resistance of the global range forms a symmetrical triangle. A breakout of one of the boundaries will form a distribution TA on the high timeframe: 1) Price in 0.91200 - 0.88600 range 2) Resistance was tested earlier. Within the range, price moves from one boundary to the other 3) In our case liquidity from 0.89000 to 0.8600 has not been tested. TA on a low timeframe: 1) Since the market is most likely aiming to continue its move down to the liquidity area, the priority is to expect a support breakout 2) Price may consolidate in a triangle for a few more days and then test the limits of the pattern for a breakout 3) I expect a breakout of support and a decline to 0.88600. But if the price breaks 0.9000, it will go up to 0.91190 Key support📉: 0.89430 Key resistance📈: 0.9000
Short
by AndeWave
8
BANK NIFTY SYMMETRICAL TRIANGLE - 04/07/2023BANK NIFTY Formed SYMMETRICAL TRIANGLE PATTERN BUY ABOVE - 45250 SL - 45140 TARGETS - 45350,45500,45640 SELL BELOW - 45100 SL - 45220 TARGETS - 44900,44790,44700 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:BANKNIFTY
by Jagadheesh_JP
8
BTCUSD → 4 setups that will make the buyer happy BITSTAMP:BTCUSD is showing confidence and chic dynamics in the market. On the global chart, the flagship is forming 4 key set-ups that say it is highly likely that the price will continue to strengthen. Let's break it down! The cup & handle, the bearish wedge, the head and shoulders, as well as the breakout of the strong resistance level 30261 after another retest. This set-up colaboration makes bitcoin fans happy enough :) On the daily chart, the price makes a retest of resistance 30575. After the false breakout on June 21, we did not see a decline. A pre-breakdown consolidation was formed, after which the flagship broke the level and at the moment the price consolidation is formed above this level, which may give us a good bullish signal. In the mid-term, there is a chance that the price will test the channel resistance quite quickly. It is also worth paying attention to the moving averages, which play the role of support, but at the same time the curves show the key boundaries that the price has previously overcome. Support levels: 30575, 30261, 30000 Resistance levels: 32196. 34000, upper limit of the channel I expect from the bulls a strong position above the level of 30000-30575. In the medium term bitcoin gives good signals, which can realize the idea of 34000-38000 Regards to R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
19
GOLD → The bears are quite strong in the market. Falling furtherOANDA:XAUUSD forms another bearish range of 1912-1985. The price is descending in steps in the channel, which indicates a strong dominance of sellers in the market. What do you want to see next? After the false breakdown of the support 1895, the market tries to buyback the fall and it succeeds. The price makes a retest of the resistance 1912. Another false breakdown is formed, but this time it is resistance. On the schedule is clearly seen a bearish trend, which coincides on H1, D1 and W1. The fundamental background is negative. The Fed is discussing a further rate hike, which may strengthen the dollar and weaken gold. The price is again testing the local support at 1902. If the level is broken through, the price will head towards 1895 and then maybe towards 1890. Resistance levels: 1910, 1912 and 1924. Support levels: 1902, 1895 I expect the price will continue falling down against the bearish trend after breaking through 1902 or 1895. Resistance levels are strong enough and will not let the price through. Regards to R.Linda!
OANDA:XAUUSDShort
by RLinda
27
USDCAD → Realization of a symmetric triangle on W1FX:USDCAD on W1 demonstrates exiting a symmetrical triangle downwards. A correction or rebound from downtrend support is forming. What to expect from the price in the near term? The price forms a bearish price channel and after another retest of the trend support the currency pair forms a rebound to the resistance area 1.32697-1.33171. There is a high probability that the price will not break this area and after consolidation and a break of the limit support level 1.32400 will continue its fall to 1.31214. The market is controlled by the bears, the medium-term potential is 1.28000 The 200-hour moving average acts as resistance and supports the upper boundary of the channel; the 50-hour is support, but probably not for long. Resistance levels: 1.32697, 1.33171, MA-200 Support levels: 1.32400, MA-50 I expect the fall from the resistance area will continue. Realization of the global pattern, which is able to send the price to 1.28000, is forming. Regards R.Linda!
Short
by RLinda
17
GOLD → Price is testing 1912 support for a breakout OANDA:XAUUSD is preparing for further declines. Bears on the basis of negative fundamentals are not going to give up. Another retest of support is forming, which increases the probability of further downside Closing of the daily candlestick on Tuesday is very close to the indicated level of 1912.5. The retest is formed - the market checks the support area. Price starts to consolidate below the local bearish resistance and near the level of 1912.5. Based on the technical analysis we see a very high probability to break through the support (a deep false breakout is possible). But we consider support at 1895 as a medium-term target. But again, if today's news affect the gold prices and if the resistance is broken through, we might see an increase to the upper boundary of the range. The moving averages are pointing to a global stop and an attempt to change the bullish trend. Support levels: 1912.5, 1895.5 Resistance levels: 1917, 1920. The retest gives a strong signal. For this reason, on the background of the falling market, I expect a breakout of the key support with a further decline to 1895. Regards to R. Linda!
OANDA:XAUUSDShort
by RLinda
26
EURGBP → Formation of a pre-breakout consolidationFX:EURGBP a week earlier forms a break of the resistance of the descending price channel. A consolidation of 0.86000-0.85400 is forming. We see consolidation at the resistance. What to expect from the price? Most likely, the price will continue to test resistance 0.86067. Pre-break consolidation is forming, which can be interpreted as another attempt of price exit from the range, followed by the strengthening of the currency pair. Moving averages are beginning to narrow and if the conditions are favorable, they may soon form a signal that confirms the intention of the market to change the trend. A breakout at 0.8606767 will send the price to 0.86722, but if the breakout does not happen, correction to the trend support will be formed. Resistance levels: 0.86067, 0.86345, 0.86722 Support levels: 0.85725, trend support The market is showing good dynamics and consolidation confirms the intention of the buyers. I am waiting for breakthrough of resistance with the subsequent growth. Regards R. Linda!
Long
by RLinda
18
ETHUSD → implementation of distribution. Target 2300BITSTAMP:ETHUSD has been showing a swell in the last few days. The price is out of the key range. The bullish set-up is working 100% and price is breaking resistance. What to expect from ethereum next? For a long time, the coin formed a wedge pattern, which ended with the price forming a rally after a false break of global trend support and the SMA-200 and breaking not only the wedge resistance, but the trend line and the 1846.5 level. A consolidation above this support area will consolidate the bulls' position and continue to shape the move. Within the price channel, we have an implied target - the resistance area of 2300. Most likely, in the medium term, we should expect growth towards this mark. Support levels: rising support line, previously broken wedge boundary, 1846.5 level Resistance levels: 1920, 2021 Consolidation lasted about 45 days, the distributive phase after consolidation may last for 15 days. I expect that in the mid-term we might see a breakthrough of the local resistances and strengthening of the price to 2300 Regards to R. Linda!
BITSTAMP:ETHUSDLong
by RLinda
16
GOLD → Symmetrical triangle on a falling trend OANDA:XAUUSD continues to form a sideways range of 1938 - 1912. But if you look closely, we see a symmetrical triangle on the downtrend. What can happen to the price? The triangle can affect price both bearishly and bullishly. If sellers hold resistance, price will move to the lower boundary of the pattern - the chance of further declines will increase. But if the price breaks the resistance of the triangle, it will go to 1938, the chance that the price will break 1938 is not high enough. We have a strong bearish trend and resistance levels play a key role. In the medium term I expect price to fall to 1912-1900. Resistance levels: upper limit of triangle, 1933, SMA200, 1938 Support levels: 1928, 1922, lower boundary of the triangle I expect a resistance retest, but since the bears are quite strong at the moment and the fundamentals are not so good, I expect a fall to 1912 - 1900 Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
24
NEARUSDT → Double bottom and range breaking BINANCE:NEARUSDT forms several key setups which are quite strong prerequisites for further growth. What to expect from the price? A double bottom is forming at the level of 1.229. The formation period is 7 months. Price is accumulating a huge amount of energy during this period while a range (consolidation) of 1.229-2.596 is forming. At the same time the price breaks the resistance of the descending wedge. In that case, if the bulls hold their positions above the previously broken line, we will see a rise to the upper boundary of the range in the medium term. A breakout of 2.596 will take the price to 3.361. The moving averages are still as resistance, but MA-50 has been tested and may be broken soon. Support levels: the previously broken range boundary, the level of 1.229 Resistance levels: MA-50, 1.800, MA-200 I expect predictable reaction from the bulls. A consolidation above the previously broken line will form an entry point to long positions, and after that I will wait for an increase to resistances. Regards R.Linda!
Long
by RLinda
14
GOLD → Consolidation is formed after a trend breakThe market stops OANDA:XAUUSD fall at the local support level of 1912. On Friday, we saw a redemption of the fall, but the price could not overcome the resistance. The retest sent the price down. There is a sideways formation of the range between 1938 and 1912. The price might test one of the key resistances, but there is not much of a potential for the buyers at the moment. Yesterday we analyzed the situation in the high D1 time frame and mentioned that the price broke the uptrend, and if the gold crosses below 1910, it will move under the red zone. The MA50 acts as a local support and the MA-200 keeps pushing the price as resistance. Most likely high volatility may not happen and the price will stay in the above range for some time. Support levels: 1924, MA-50 1918, 1912 Resistance levels: 1928, 1938, MA-200 I expect continuation of the consolidation formation, but in the medium term I expect a fall from the resistance, a possible retest of the support of 1912 and further fall after a breakthrough. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
27
CADCHF → Formation of a pre-breakout consolidationFX:CADCHF is preparing for the continuation of the uptrend. The price within the ascending price channel is forming a consolidation against the resistance 0.68220. What to expect from the price? The chart clearly shows a bullish trend. The market is interested in the resistance at 0.68220, which the sellers are defending so strongly. If the price breaks through that area, it might continue rising, and the CHF-CAD will continue going down. The moving averages show that the market is ready to exit the consolidation. At the same time, the indicator acts as support. The nearest target, which the price can strive for, is the resistance at 0.69312 level. Support levels: SMA-50, trend support, 0.67194 Resistance levels: 0.68030, 0.68220 I expect the consolidation aimed at breaking the resistance will break the level in the nearest future. After the breakdown of the level I will be waiting for the strengthening of the currency pair to the upper boundary of the trend. Regards, R.Linda!
Long
by RLinda
19
GOLD → Breakthrough of the global trend support. 1800? OANDA:XAUUSD last week motivated us to keep a close eye on the trend support and the Triangle Beak pattern. A break of the support breaks the base of the trend, but there is still no confirmation, we only see the primary phase. What to expect from the price? A breakout of the trend base forms quite a strong bearish momentum. Earlier, the broken level was also tested, but the false-break format did not give any result, Price is closing in the red zone on the daily and weekly timeframe. If the bears can hold below 1939, 1925 or even below 1907, they have an excellent corridor to move down towards the 1800 area. Pay attention to the 1907 - 1808 range. We have a void on volume and with the support levels, price could "fly" down. There is a lot of important news coming out this coming week, it is worth keeping an eye on the press releases and considering the news in your trading: I expect bearish scenarios to develop in the coming week. Preliminarily, the Fed is not going to cut rates, they will either hold or increase. There is a crisis in the countries against the background of geopolitical reasons; there are quite a lot of disputable nuances related to inflation in the West. In general, we have a rather complicated situation. Analysts shout about the U.S. recession, it is possible that the price of gold will go down deliberately, but again, everything is just a rumor. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
24