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Triangle

The triangle pattern is known as a bilateral pattern, which means that after a break-out the trend could either continue or reverse. There are basically 3 types of triangles and they all point to price being in consolidation: symmetrical (price is contained by 2 converging trend lines with a similar slope), ascending (price is contained by a horizontal trend line acting as resistance and an ascending trend line acting as support) and descending (price is contained by a horizontal trend line acting as support and a descending trend line acting as resistance).

The more price approaches the apex (where the trend lines converge), the bigger the chance of a break-out. The triangle pattern has completed when price breaks out of it, in either direction. Conservative traders may look for additional confirmation. The target can be estimated by measuring the height of the back of the triangle and extending it in the direction of the breakout. A common stop level lies just outside the triangle.
narushima narushima PRO BTCUSD, 360, Short ,
BTCUSD: End of consolidation, downsided resolution.
264 4 3
BTCUSD, 360 Short
End of consolidation, downsided resolution.

We Consolidate since 1 month and it looks like the BTC sideways are ending. Segwit is on the way and whatever will be the outcome, it doesn't seem that the issue will be resolved without serious trouble on the way. For me the market is ready for a GLOBAL bearish correction, and a serious BTC price fall should sign the fact that we really engaged into it. If you ...

DL.FX DL.FX PRO GBPJPY, 30,
GBPJPY: GBPJPY INTRADAY MISS - TRADE WHAT YOU SEE, NOT WHAT YOU THINK
76 0 3
GBPJPY, 30
GBPJPY INTRADAY MISS - TRADE WHAT YOU SEE, NOT WHAT YOU THINK

Missed a 45 Pip win on GBPJPY due to my short bias. Trade what you see, not what you think. I have been noticing that I have been missing potential winning trades due to my bias'. On the 4HR GBPJPY still showed sign off upward strength, as it was still creating HH and HL and the MA's were still crossed to the upside. There had also been a confluence with the ...

dsfx1 dsfx1 EURGBP, 60,
EURGBP: EURGBP
48 0 2
EURGBP, 60
EURGBP

Looking more bullish than bearish although more confirmation is definitely needed before entering this one.

bloxhamtrading bloxhamtrading XAUUSD, 15,
XAUUSD: Possible XAUUSD Short Trade
120 0 3
XAUUSD, 15
Possible XAUUSD Short Trade

There is a possible correction looming, both RSI and Stochastic showing bearish divergence. There is some resistance at this level with it being testing it 4 times, we are now at the apex of an ascending triangle. The target projected from the triangle measurement is just above the 38.2% FIB level, this are should provide support to a move down before possibly ...

LeeThompson97 LeeThompson97 EURGBP, D, Short ,
EURGBP: GBP/EUR Descending Triangle & Regular Divergence
71 1 3
EURGBP, D Short
GBP/EUR Descending Triangle & Regular Divergence

Price is currently at the top of a descending triangle.. my bias is that price will break to the downside. Look for the close on the daily timeframe, if price does not break the top and instead shows a reversal candle use the counter trend line (4 hourly) to enter. On the 4 hour time frame there is also regular divergence visible, further suggesting a sell.

LeeThompson97 LeeThompson97 GBPEUR, D, Long ,
GBPEUR: GBP/EUR Ascending Triangle Formation
53 0 2
GBPEUR, D Long
GBP/EUR Ascending Triangle Formation

Clear ascending triangle pattern recognisable on daily and weekly timeframes, there is a bullish bias using the 3 drives pattern. With this in mind, and the recent rejection of the lower support line, use a break of the counter trend line to confirm the trade. Ideally price should eventually break out at the to of the triangle, however expect a retest of the lower ...

hollinrj hollinrj NZDUSD, 30, Long ,
NZDUSD: NZD/USD Bullish triangle breakout
43 0 1
NZDUSD, 30 Long
NZD/USD Bullish triangle breakout

Following on from my NZD/USD Long idea published a couple of days ago on a weekly chart, as NZD/USD is now trending upwards as predicted earlier to me I can see an ascending triangle just after the NFP, with my working out as seen in the chart, the price range made my he NFP could continue after the triangle breakout.

LorbeerInv LorbeerInv PRO EURUSD, 240, Long ,
EURUSD: Bull trap or breakout?
27 0 1
EURUSD, 240 Long
Bull trap or breakout?

Possible Euro rally towards 2nd round or french elections. After the breakout of this years high prices the Euro has technical and fundamental potential to continue its rally. Especially if polls are in favor of Macron. Looking at the most recent price action I position my PTF long after a potential triangle breakout

Jackgavin Jackgavin PRO USDJPY, 60, Short ,
USDJPY: USD/JPY short
33 1 1
USDJPY, 60 Short
USD/JPY short

Price currently in a symmetrical triangle. Price has stalled at the 50 EMA and now looks to have broken it. RSI looks to be moving back below the 50 mark. Waiting for the pattern break to take 80% of the MPO which coinsides with a previous strong level for me.

SilverTrader925 SilverTrader925 PRO EURNZD, 240, Short ,
EURNZD: EURNZD Short
12 0 1
EURNZD, 240 Short
EURNZD Short

This descending triangle has been setting up for weeks now, wait and see how it reacts around the 1.52 area if it breaks target support at 1.51 if it can get through here it has a long way to go down.

AlbionTrader AlbionTrader HG1!, D, Long ,
HG1!: COPPER HG1! on a Continuation Pattern
11 0 1
HG1!, D Long
COPPER HG1! on a Continuation Pattern

COPPER HG HG1 HG1! respected the Trendlines highlighted in the previous posts; on the 4-hour chart it followed the Simple Moving Average ribbon as well. A triangle formation is being reached now. Could be a Continuation Pattern upwards.

Roker1 Roker1 PRO EURJPY, 60, Long ,
EURJPY: Consolidation Breakout on EURJPY
171 0 7
EURJPY, 60 Long
Consolidation Breakout on EURJPY

Hi guys, today i want to share with you this simple consolidation pattern called triangle: it basically consists on one trendline and one horizontal structure level converging at the same level. Price is making lower highs and equal lows. As you can see on the chart above though, price has actually broken to the upside this trendline, also breaking the double ...

naynay97 naynay97 GOLD, 60, Short ,
GOLD: Gold 60  min short
50 0 3
GOLD, 60 Short
Gold 60 min short

Don't usual dabble with commodities or metals but this looks like a potential trade to go short. The triangle formation shows a massive reversal of the uptrend plus the double bottom has been formed and continued on with a big short bar.

shaunsmith100 shaunsmith100 GOLD, 30,
GOLD: GOLD - EAGLE EYE
64 0 1
GOLD, 30
GOLD - EAGLE EYE

So used a bit of Ascending Triangle chart pattern rules along previous major support and resistance levels and came to this conclusion. I think it will continue to tip toe on support level and possibly touch the ceiling again. All before major breakout. Will be watching this one with an eagle eye :)

lonewolf277 lonewolf277 PRO GBPJPY, D,
GBPJPY: Possible Break - Triangle Formation
35 0 2
GBPJPY, D
Possible Break - Triangle Formation

It's no secret that I really like watching out for triangle formations. I've also learnt not to trust them until the break has been confirmed, and based on the trend and SR lines I've added here I'm putting my money on a break around the 17th of March. Long or short, who knows, but either way it would be a good idea to grab a position earlier rather than later!

f_carter93 f_carter93 PRO AUDCHF, D, Long ,
AUDCHF: Breakout Trade - Long AUDCHF
27 0 2
AUDCHF, D Long
Breakout Trade - Long AUDCHF

Price has been in a long term ascending triangle with defined support and resistance lines. Price is also above the 200 day moving average so I'm only looking for long trades. A breakout to the upside has recently occurred and the average true range signalled this was a valid breakout. Price has currently pulled and is approaching the resistance turned support ...

CKCE CKCE PRO EURJPY, 360, Long ,
EURJPY: EURJPY Triangle formation trade
29 0 4
EURJPY, 360 Long
EURJPY Triangle formation trade

Looking like a Triangle correction and so I'm in a trade within this pattern. Entered at 120.12. I'm expecting some resistance around the 121.50 to 122.00 level so I'll aim to lock in some profits before this and then wait and see what happens after that. Will it then bounce back, or will it push on, though? I'll wait and see if it get's to this point.

nikitafen46 nikitafen46 EURCAD, 60, Long ,
EURCAD: EURCAD Long Position off Support TL Bounce
39 3 2
EURCAD, 60 Long
EURCAD Long Position off Support TL Bounce

Price has opened at the support trendline today Stochastic is oversold and currently turning upwards from that area. Weak CAD can be seen in both USDCAD and here, EURCAD. Not too good R:R ratio, but this trade fits my technical strategy so I will take it. Have less emotion, and be more patient. Good luck comrades.

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