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Triangle

XRP hits target of green symmetrical triangle breakout.Target hit!nHopefully now that this target has been hit xrp will still hold support on all the MAs it rose above to hit this target including the weekly 20ma not shown here since this is the 1 day time frame. Nice to see price action send a wick above the top yellow trendline. Once it starts to close a few consecutive daily candles above the top yellow trendline and perhaps 1 to 2 consecutive weekly candles above it then it should really be go time. May take a second to flip it to support though after such a big pump. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
XRP hits target of green symmetrical triangle breakout.Target hit!nHopefully now that this target has been hit xrp will still hold support on all the MAs it rose above to hit this target including the weekly 20ma not shown here since this is the 1 day time frame. Nice to see price action send a wick above the top yellow trendline. Once it starts to close a few consecutive daily candles above the top yellow trendline and perhaps 1 to 2 consecutive weekly candles above it then it should really be go time. May take a second to flip it to support though after such a big pump. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
GREE - BTC miner they are all breaking out poss 20X Bullish case, buy and forget, wait till next summer double your money and then some Poor triangle breakout but the rest of the BTC miners already made triangles and have broken out and some made 50% this week alone It will go up in stages but in full bull cycle the leverage play from BTC doubling in an equity could cause 20x form here 10 to 200 ? time will tell. nice to know now though! Well if its 3-4 now then you can times that by 3-4 depending on when you get in so its an equity which may be able to do 20x times 3 or 4 so lest say 60x from today in under two years. Thats not too bad hey! who else does that ? be a hero for yourself! eg 10k now in two years time thats 600k minus tax etc you can buy a nice house for cash for that. best to wait until 2030 bottom of the property cycle and pick up a 1.5 M house now for cheeky cash offer of 600k you will get them all for a 10k now invest ! Its not hard but almost no one reading this will have guts to do it! In 2030 this will still exist and I hope it works out for someone. If it does send me an email please and pics of what a 10k house looks like! Not advice just for education and fun and life changing scenarios
NASDAQ:GREELong
by William_Playfair
Oil's Descent: Triangles, Elliott, Reversion, & BackwardationIn this analysis, we will delve into the oil market’s current state and explain why a significant reversal is imminent. Contracting Triangle Oil has been forming a contracting triangle since the beginning of May. The lead-up to the triangle was bearish, so statistically, the breakout should also be bearish. The upper extreme of the triangle is at $84.45, but prices could advance up to $87.67 before invalidating the bearish breakout. Wave C of E of X According to Elliott Wave analysis, contracting triangles form five waves (i.e., A, B, C, D, E). Typically, each of those five waves subdivides into a zigzag (i.e., A, B, C). We can clearly count five waves of the triangle and three waves of the final zigzag, indicating that the reversal should occur at any moment. Mean Reversion On the daily timeframe, oil has approached the overbought level on three different mean reversion indicators. It has been overbought since June 17, according to the Stochastic Oscillator, and it will be overbought according to RSI and Bollinger Bands at $85.09. Backwardation Backwardation, where forward contracts are traded below the expected spot value at maturity, often signifies a bullish outlook for crude oil. However, it can also indicate short-term market stress caused by buyers' panic over excess demand or insufficient supply. This scenario often results from an overreaction, and as future supply and demand expectations come into balance, the oil market tends to experience a selloff towards more rational pricing. Given the current strong state of backwardation in oil futures, this dynamic could unfold, contributing to the next market downturn. Executing the Bearish Strategy As this is a countertrend trade, risk should be tight, and one’s stop loss should be adhered to religiously. While unlikely, if prices were to continue their ascent, and you have a wide or flexible stop loss, you could experience a substantial loss. I believe the best place for a stop loss would be just beyond the end of intermediate wave C at $87.68. If prices move beyond this level, it would invalidate the Elliott analysis and offer a strong indication of a bullish breakout from the triangle. As long as prices hold below this level, the outlook would remain bearish, unless a strong consolidation pattern forms near these highs. If the analysis is correct and we do see a bearish breakout, prices could easily decline to $65, possibly lower. This would be a reasonably conservative target, but I am planning a discretionary exit as price action develops. As for entry, this is a personal decision. I see three possible options: Wait for prices to climb a little higher (less risk at entry if successful, with a chance of entering lower with more risk if unsuccessful). Wait for prices to decline a bit to confirm the analysis (higher probability of a winning trade, with greater initial risk at entry). Enter now (somewhere in between options 1 and 2). Good luck, everyone!
NYMEX:CL1!Short
by epistemophiliac
USD/JPY looks ready to soar, but will it wake up Bo(J)zilla?Last week, USD/JPY spiked higher after a disappointing Bank of Japan (BoJ) rate meeting and today, the price has again broken above resistance. The chart reveals a smaller ascending triangle pattern with a target of 159.80, which remains valid as long as the price trades above 157.14. Will a push higher wake up Bo(J)zilla? Why is the USD/JPY Rising? The BoJ's decision to leave rates unchanged last week, despite inflation being reported at 2.5% and potentially reaching 3% soon, was met with disappointment in the market. The central bank's vagueness about its plans to reduce asset purchases further adds to the uncertainty. This scenario supports the carry trade, a strategy where investors can increase their returns by borrowing cheaply in JPY at nearly 0.1% and investing in the USD at 5.5% or the MXN at an eye-watering 11%. With leverage, returns could increase to 22% annually, excluding costs. Will the BoJ Intervene? It is unlikely that the BoJ will intervene significantly in the short term. However, given the current fundamentals and chart patterns, the USD/JPY appears poised for further gains. The central bank might attempt to intervene during low liquidity periods, such as when the US markets are offline and before the Asian markets open. Caution is warranted for anyone going long USD/JPY, as they could face off with Bo(J)Zilla.
Long
by ThinkMarkets
2
GBPUSD LONGDaily Bias Long Fundamental Analysis - GBP CPI higher, GBP stronger. USD weak data, USD bearish Price Action: Price pushed to a new high into Daily Horizontal Level and formed an ascending triangle within the Horizontal level. H4 trendline is also at the ascending triangle area. Price break out of ascending triangle resistance level. Price closed above the resistance level. It is a bullish momentum candle formed in H1. Confluence: Higher TF (W/D/H4) - Ascending triangle, H4 trendline, breakout of resistance of Daily resistance. Lower TF (H1/M30/M15) - Breakout ascending triangle, Bullish momentum candle Set up: Long trade set up at broken H1 resistance. SL below swing of ascending triangle. TP next swing high for Daily TF. R:R 1:4
Long
by royschen07
GBPUSD LONGDaily Bias Long Fundamental Analysis - GBP CPI higher, GBP stronger. USD weak data, USD bearish Price Action: Price pushed to a new high into Daily Horizontal Level and formed an ascending triangle within the Horizontal level. H4 trendline is also at the ascending triangle area. Price break out of ascending triangle resistance level. Price closed above the resistance level. It is a bullish momentum candle formed in H1. Confluence: Higher TF (W/D/H4) - Ascending triangle, H4 trendline, breakout of resistance of Daily resistance. Lower TF (H1/M30/M15) - Breakout ascending triangle, Bullish momentum candle Set up: Long trade set up at broken H1 resistance. SL below swing of ascending triangle. TP next swing high for Daily TF. R:R 1:4
Long
by royschen07
MATIC: GENRATIONAL BOTTOM IS IN!!Hey everyone! If you're enjoying this analysis, a thumbs up and follow would be greatly appreciated! Welcome to this MATIC/USDT UPDATE MATIC looks amazing in the weekly time frame. Last time when MATIC accumulated in a 610-day channel it led to 20,000 Returns. Now, it is forming a symmetrical triangle kind of structure and accumulated in the triangle for more than 1200 days. Right now, it is sitting at the lower trendline of the triangle and also holding good support here. Buy some now and add more in the dip. Must Hit Targets:- $2.84/$4.72/$7.16/$9.88 Overall it's a double-digit potential, so leave some % for a moon bag🚀 What are your thoughts on MATIC's current price action? Do you see a bullish pattern? Share your analysis in the comments below!
MLong
by CoreCrypto1
1