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Symmetrical Triangle

The last time Jerome...Do you remember Jerome powell talking about his failed policy, warning us of further increases?, that day 2 symmetrical triangles were destroyed, now we are maybe seen the born of a new one, why this change? NO MORE INTEREST RATES INCREASES, that means that all the adjustments to the valuations are now fully reflected in the market., the Fed's desire to increase their asset values should lead to a bull run. But, if the bank crisis goes further, maybe we can see the conclusion of something that looks like a broadening raising wedge taking us tu Oct. levels
AMEX:SPXLLong
by AllAboutMoney
2
Ethereum - Final 24% drop before a new all time high! Ethereum is now in an extremely difficult situation because the price is at the resistance of this symmetrical triangle and also inside the bearish rising wedge pattern on the daily chart! These patterns are bearish, so the probability of breaking down is higher at this point. Of course, we can breakout bullish, but do you really want to bet on it? What's more, it looks like the first impulse Elliott wave has been completed, and we should take a look for a potential buying level on the next bull run! An ABC correction is on the way, and in this case personally, I am targeting the previous POC or the 0.618 FIB of the impulse wave, which is a 24% drop. The very good news is that this triangle has impulse waves to the upside and corrective waves to the downside. It's a sign of trend reversal, and that's why I think this symmetrical triangle will break to the upside (later)! I think the bull market has started, but we are still stuck in this symmetrical range. 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 post trade setups privately. As you can clearly see, we have an unfilled GAP, and it is very dangerous to go up without filling it. The reason is that the market will want to fill the gap later, maybe in 2024, and you probably don't want it. So let's fill it now. If you haven't seen my previous very popular idea about "Bitcoin to 18K," "The big crash is coming!" You have to check out the related section down below, because it's absolutely mind-blowing. Currently I am bearish on Ethereum and Bitcoin, but only temporarily until we reach my targets. It's hard to speculate on the breakout of the symmetrical triangle while the price is still inside it. So from my perspective, the probability of going down is 75%. It was a very good rally with tons of profits, but now we need to trade the market differently. Of course, it will be more difficult for the majority of traders, but it is doable! Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
61
ETH: QUICK UPDATE!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this quick ETH update. ETH is forming a big symmetrical triangle in the daily time frame and rejecting the upper resistance line. Currently, it is trading around the $1600 level. So we have two possible scenario's from here. First, a possible scenario is to get a bounce from the green support zone ($1420-$1500 range) The second possible scenario is if we break below the $1420 level then there are high chances that we revisit the lower trendline of the triangle ($1200 level) So for a bullish momentum in ETH, we need to break and hold above the symmetrical triangle. What do you think about this? Share your views in the comment section. If you like this idea then do support it with like and follow. Thank You!
Short
by CoreCrypto1
11
AU BANK WILL BREAKOUT OR BREAKDOWN ??? What is a Symmetrical Triangle:- A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope. The price forms symmetric triangle pattern on daily and weekly chart. The price perfectly following the ascending parallel channel and price persisting itself and also taken support many times. What if price Breakout upside:- If price will breakout upside than we can expect a good rally towards upside as price following symmetric triangle pattern & upper descending parallel channel from a very long time and trading under the range of the triangle pattern. Breakout towards upside can also takes the price at all time high level. What if price Breakout downside:- If price breakdown downside than we can expect good fall towards downside as price respected and following lower descending parallel channel and taken support many times. If price breaks this support than it will leads to a good fall in price. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad
NSE:AUBANK
by Jha_Nidhi