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Descending Triangle

B | Wave Projection | TFW Bullish Divergence | Ending Diagonal?Price action and chart pattern - descending triangle with a bullish divergence pattern in weekly timeframe is considered a strong reversal trading signal. Wave projection: A possible 5 wave of major A-wave correction coming forming an ending diagonal wave targeting 0.5 - 0.618 fibonanci extension of previous 3-wave downtrend. Entry: Descending triangle breakout / SMA200W zone Stop: Lower triangle support -12%-15% Target: 0.382 - 0.5 retracement of current downtrend A-wave +40% - 50% Risk reward ratio: 3:1 Always trading with affordable risk and respect your stoploss Good Luck
SET:BLong
by dukeposh
SIS Ltd Trend AnalysisFundamentals are good, revenue has increased more than 10 times in 11 years but OPM dropped by 66% due to increase in employee cost which is concerning. Borrowings increased to almost 100% but trade receivables & cash equivalents can make it up to 87.5%. Technically price is about to reach the base of the big descending triangle as highlighted and forming strong bullish divergence with RSI. Good to accumulate around 360-400 levels for the following targets: Short term swing target @ 490 (29% ROI from CMP) Medium term swing target @ 660 (73% ROI from CMP) Long term swing target @ 800 (110% ROI from CMP) Mandatory stop loss @ 320 Do your own due diligence before taking any action. Peace!!
NSE:SISLong
by Swastik24
Shiba Inu is breaking out! Take a huge profit here. Shiba Inu is absolutely prepared for a massive uptrend on the daily chart! We can see that the price is breaking out of the falling wedge pattern. This falling wedge pattern is not a standard wedge because it is also an ending diagonal from the Elliott Wave perspective, which is a powerful combo. Also, on the RSI indicator, we can spot a bullish divergence between the swings. It's also a strong indication that the bears are losing steam. It's a great time to open a long position on the futures market, as I already did! 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. Now the most important question is: where is the profit target? On the way up, you obviously want to target strong resistance. Strong resistance is undoubtedly the start of the previous GAP + top of the parallel channel, and if the bulls break this level, the previous consolidation structure's POC will be reached. You can see these levels on the chart! If you haven't seen my analysis about Bitcoin's exponential pump, then you must, so check out my related section down below. December was an extremely good month when it came to opportunities in the crypto market, and January is starting very positively as well. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
68
DOGE wants to go back homeHello friends , as you can see in the chart, DOGE has printed a descending Triangle with decreasing volume. According to my strategy this one is a powerful pattern that should not be ignored which has a high probability to anticipate big moves. The decreasing volume acts as a confirmation. I say back home because in my opinion this hyped movement due to Elon Musk tweets will not last forever, it already went down a 90% from ATH but I think that more -90% downside moves might be coming. This is only pure speculation, the pattern is not yet confirmed, If the price manages to close a few daily bars under 0.0723$ I will consider entering a short in the pullback to the same level using a stop loss order at 0.0838$ and with main target 0.00726$, yes , you read well, a -90% move. I will be glad to see what do you think in the comments, if you think that I'm wrong your feedback will be much appreciated, don't forget to give a boost if you agree.
Short
by piccard54
BNB: DO OR DIE!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this BNB update. As you know recently we have seen many FUD against Binance. No one knows whether these fud are true or not but we trying to understand the situation by reading the chart. BNB is currently trading around the $245 level. It is trading inside a descending triangle in the weekly time frame. It has very strong weekly support at the $210 level. If BNB breaks and closes below the $210 level then I didn't see any good support until $40 in this weekly chart. So is it possible that BNB goes in two digits? Don't know yet but nothing is impossible in crypto. We have to see many unlikely events this year like FTX, 3AC, LUNA, and many more. So that's why anything is possible. All we can do is stay alert and preserve our capital. Until BNB holds above the $210 level it is safe and it's a good buying zone with a little SL of below $200 Let's see how next year will come to us. Hope for the best. If you like this idea then do support it with like and follow. Alos, share your views in the comment section. Thank You!
Long
by CoreCrypto1
16
Ethereum - Bears will shutdown ETH! Short here. The price of ETH is moving into brutal resistance, and the bears are waiting patiently to shutdown ETH to lower levels! It's going to be very extreme because the resistance is huge! I will tell you why in this analysis. It's the previous structure's POC + 0.618 FIB + the previous trendline's breakout level + the start of the GAP. As per my Elliott Wave analysis, this whole structure looks very complex and corrective. I would love to see some capitulation and a strong rebound, but it's not happening. What's more, the downtrend from December 14 to December 19 looks totally strong and impulsive. It's the main direction of the trend, which is bearish. 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. So my plan is to short ETH once it reaches my specific resistance. I am telling you, it will be a massive rejection! If the ETH/BTC pair falls below the main support level, ETH can effectively free fall relative to Bitcoin. But this is a different chart and a different analysis. I don't even know if ETH can reach the strong resistance; we will find out very soon! Thank you.
Short
by UnknownUnicorn2537518
50
BTC DOM UPDATE! ALTS MIGHT DUMP 40-50% FROM HERE IF??Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this Bitcoin Dominance update. BTC Dominance is inversely correlated with Alts. When dominance pumps, Alts dump, and when dominance dump, Alts pump. According to the weekly chart of BTC Dom, it is forming a descending triangle here and currently trading near the above trendline. If it breaks out from this triangle then it will be very bad for Altcoins. Meanwhile, rejection from here will give some relief rally in the Alts. For more confirmation, we have to wait for another weekly close. Let's see how this goes. I'll keep updating you. If you like this idea then do show your support with like and follow. Also, share your views in the comment section. Thank You!
CRYPTOCAP:BTC.D
by CoreCrypto1
4
DOGE - Extremely bearish pattern, buy/long here! Doge looks very bearish, but this coin is definitely stronger than others. In this analysis, I will tell you where to buy DOGE for a short-term trade! Doge is not going anywhere; this coin will survive even the most hard-core crash, together with Litecoin and Monero. These first-generation altcoins are solid. Unfortunately, the chart is printing a descending triangle, which is not bullish. There is a lot of liquidity below the triangle, so the market wants all orders. I am buying doge exactly at 0.06112 for a short-term profit. I will trade it on the futures market, of course, but you can do it on the spot market as well. Don't forget to set your orders! From the Elliott Wave perspective, the previous uptrend looks like a 3-wave ABC corrective structure. Not the best sign. I remember before everyone was buying DOGE like crazy, and now everyone is at a loss. The crypto winter is real; nothing is bullish pretty much. The only way to make money is to trade futures. I post trade setups privately. This analysis is not a trade setup; there is no stop-loss, profit target, expected duration of the trade, risk-to-reward ratio, or timing. Why buy doge at 0.06112? because it's the last high-volume node on the volume profile and also because we have an ascending trendline, which should work well together. What's more it's the start of the massive gap. The 200-day moving average has been tested three times, and it's just too much. It looks like buyers are running out of steam. There are 2 most likely scenarios. The first is that we will spend more time in this triangle. The second is that we will breakdown very soon. Thank you!
Short
by UnknownUnicorn2537518
47
CAD/JPYWith Canada beginning to ease off on interest rate hikes, we may start to see the Canadian dollar begin to add strength, with us approaching the 5-month lows for the CAD/JPY at 99.49 this may be the last chance to jump on the bearish bandwagon before we see a potential rebound. We do however still have a way to go if we were to possibly re-test the 98.00 level which has not been seen since May this year. The current descending triangle we find ourselves in, provides the opportunity for a short position, where we look to enter at the top of our resistance channel. Depending on how the market structures itself within the entry zone will determine when and how we enter this trade.
Short
by VavioUniversity