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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.
stevepuri stevepuri BTCUSD, 1D, Short ,
BTCUSD: 2018 Crypto Crash (Elliott Wave): Barrier Descending Triangle II
538 0 9
BTCUSD, 1D Short
2018 Crypto Crash (Elliott Wave): Barrier Descending Triangle II

2018 Crypto Crash (Elliott Wave): Barrier Descending Triangle II

Jack_Boulevard Jack_Boulevard ADABTC, 240, Long ,
ADABTC: ADABTC BITTREX
26 0 0
ADABTC, 240 Long
ADABTC BITTREX

ADA is another coin which has broken the short term downtrend. It is now forming into a symmetrical triangle right at a daily support/resistance. Some good potential gains to be made if this breaks up. Bullish engulfing to break the triangle and off support would be the confirmation.

Jack_Boulevard Jack_Boulevard XEMBTC, 240, Long ,
XEMBTC: XEMBTC BITTREX
12 0 0
XEMBTC, 240 Long
XEMBTC BITTREX

XEM has broken out of its short term downtrend and is now consolidating on a strong level of support. It has held here multiple times previously and gone for good runs after consolidating at this level. It also seems to be forming a symmetrical triangle just above the support level. If BTC behaves I feel like a good push could happen with 6-12% gains depending ...

andmk2 andmk2 BVC, 1W, Long ,
BVC: Good week for BATM. Breakout from ascending triangle
8 0 0
BVC, 1W Long
Good week for BATM. Breakout from ascending triangle

Breaking out of an ascending triangle. Looks bullish.

Jack_Boulevard Jack_Boulevard DGBBTC, 240, Long ,
DGBBTC: DGBBTC BITTREX
33 0 0
DGBBTC, 240 Long
DGBBTC BITTREX

Keeping a close eye on DGB right now as I heard there was a rumour it was going to be listed on binance. Technically it shows DGB has had a strong push to break out of a triangle that had formed. It has broken through a 4 hour resistance and is currently forming some indecision in between a support and resistance. Looking for a retrace here to retest and then a ...

andmk2 andmk2 LLOY, 1D,
LLOY: Is LLOYDS going to break to the downside?
133 0 0
LLOY, 1D
Is LLOYDS going to break to the downside?

It has formed a year long triangle, although there's no real trend to reinforce the next direction. Wait and see. Interims on 1st August will be useful.

JohnnyPurtoy98 JohnnyPurtoy98 USDCAD, 1D,
USDCAD: USDCAD - testing the resistance of the symmetrical triangle
27 0 0
USDCAD, 1D
USDCAD - testing the resistance of the symmetrical triangle

It looks like the price has pushed and is currently testing the resistance level of this symmetrical triangle. It is also at a short-term resistance level, it could be very hard to push past this level at the moment. This currency needs to be watched over the coming days to see if it is going to break or not. If the price breaks then we could see a push to the ...

JohnnyPurtoy98 JohnnyPurtoy98 GBPJPY, 60, Long ,
GBPJPY: GBPJPY - ascending triangle
74 2 0
GBPJPY, 60 Long
GBPJPY - ascending triangle

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.

JohnnyPurtoy98 JohnnyPurtoy98 GBPUSD, 240,
GBPUSD: GBPUSD - still in the bearish channel
23 0 0
GBPUSD, 240
GBPUSD - still in the bearish channel

The price has formed a descending triangle, after the break it retested the new resistance level and bounced downwards. The price has saw a massive bearish move over the last 4 hours, but looks like the push is going to come to an end as the price s still in the bearish channel. We could see a retracement take place very soon. I would keep everyone updated on my ...

JohnnyPurtoy98 JohnnyPurtoy98 USDJPY, 1D, Short ,
USDJPY: USDJPY weak momentum causing bear moves
26 0 0
USDJPY, 1D Short
USDJPY weak momentum causing bear moves

The price looked like it had lost some of its momentum as it started to get closer to the symmetrical triangle that this currency pair is currently in. With the strength of this bear candle it can be seen that the price is trying to push downwards. This pair needs to be watched as the triangle is starting to narrow and would have to breakout soon.

JohnnyPurtoy98 JohnnyPurtoy98 USDCHF, 1D, Short ,
USDCHF: USDCHF bearish moves
27 0 0
USDCHF, 1D Short
USDCHF bearish moves

The price has reached a strong resistance level which has been holding for a while now, it also formed a symmetrical triangle. The momentum of the bullish move was not strong enough to break this strong resistance, this means that the price is falling in value. I believe that this pair would move further down over the next few days, as the RSI is in a great ...

JohnnyPurtoy98 JohnnyPurtoy98 USDJPY, 1D, Short ,
USDJPY: USDJPY short-term bearish signal
14 0 0
USDJPY, 1D Short
USDJPY short-term bearish signal

The daily graph is showing something completely different to the weekly, the daily graph is showing that the price may not be able to breakout this triangle on this attempt. This can be seen by the overbought signal that is being seen as the price gets closer and closer to the resistance level of the triangle. I would keep everyone updated on any signals that I am ...

JohnnyPurtoy98 JohnnyPurtoy98 USDJPY, 1W,
USDJPY: USDJPY breaking point
14 0 0
USDJPY, 1W
USDJPY breaking point

The price has managed to push towards the resistance level of this channel. This is looking very promising, the RSI is in a good position for a bullish move. But if the price fails to breakout at this point the price would move down to the support of this triangle.

JohnnyPurtoy98 JohnnyPurtoy98 USDJPY, 1W,
USDJPY: USDJPY symmetrical triangle
86 2 3
USDJPY, 1W
USDJPY symmetrical triangle

The price has been forming a very large symmetrical triangle pattern, this pair needs to be watched carefully to see which way the price would breakout this triangle within the coming months.

Jack_Boulevard Jack_Boulevard TRXBTC, 240, Long ,
TRXBTC: TRXBTC BITTREX UPDATE
58 0 0
TRXBTC, 240 Long
TRXBTC BITTREX UPDATE

TRX seems to have been rejected again at the resistance at the 860 area. I am watching very closely for a pull back to the trend line for another entry or if it does break up a potential entry above the previous structure.

andmk2 andmk2 VOD, 1M, Short ,
VOD: Will Vodafone break triangle pattern formed since 2014?
93 4 0
VOD, 1M Short
Will Vodafone break triangle pattern formed since 2014?

VOD might break the triangle pattern formed since 2014. It's now below its 50 month moving average. Stochastic also trending lower. BUT - 200p resistance was established in 2007 and 2001, and has to break that to head lower.

andmk2 andmk2 VAL, 1D,
VAL: Which way for Valirx?
32 0 0
VAL, 1D
Which way for Valirx?

It has good chances to break the triangle pattern to the upside, but it's not clear cut. Looks like a floor is in at approx 2.25 Wait and see.

anedjai anedjai BTCUSD, 60, Long ,
BTCUSD: BTCUSD Ascending Triangle As Bottom
48 0 0
BTCUSD, 60 Long
BTCUSD Ascending Triangle As Bottom

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 ...

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