GBPAUD has formed a acesding triangle on the 1HR and 4HR time frame and has broken the resistance that was previously tested and rejected successfully 4 times, price action looks to retest this previous resistance and flip to support. Price action is making higher highs showing a uptrend of price. On the 4hr time frame a dragonfly doji has formed showing an...
Following reversal around .25 we see a triangle pattern being formed.
24/12/18 we saw a breakout with a new high around .273
Pullback saw resistance at .267 become new support.
Here we buy expecting a long breakout.
Target 1: 1.27
Target 2: 1.273
Target 3: 1.28
Here we see two options;
1) a Long opportunity using the Ascending Triangle Pattern.
Here we will wait for an upward break back into the support line.
We then anticipate a rally up towards .72800 and prepare our entry and exit strategy.
2) a Short opportunity using the Double Top strategy.
Price retests resistance line twice but is rejected back to...
It looks like an ascending triangle has started to form at the bottom of a significant bearish move. This means that the triangle is signalling a reversal and the price usually would break out the resistance level of the triangle. I would keep everyone updated on this over the coming days.
Nice bottom here where we can see an ascending triangle forming. Notice also how we are seeing an increase in the volume in regards to the white candles which strengthens the bullish scenario.
Furthermore here is an excerpt from the book 'TA of the Financial Markets' by John Murphy (pg. 138):
"While the ascending triangle most often appears in an uptrend and is...
MBH is forming a decade long ascending triangle.
No breakout yet, but can it break 100p?
Good results show potential for a bullish move,
but the pattern is soon to be completed.
Need to check in 12 months from now.
A horizontal top in combination with a rising bottom. This occurs when a bullish market pushes against the resistance level. Here we can see BTC broke through the $11k resistance but looks like there is a slight retraction. In my opinion we will see this start to increase in value again shortly as the $11k has now become a support.
BITFINEX:ETHUSD ETHUSD has been forming an ascending triangle, and following today's run, it could be about to break the upside, giving the possibility of reaching $950 in the near term. Buy now or wait for confirmation.
I'm new to this so any feedback would be appreciated :). Ascending triangle shape forming that pinches around the previous all time high region. A break out on the upside could see us bull to the 100 mark and beyond gaining more investor attention.