CADJPY Breaks Descending Triangle PatternCADJPY Breaks Descending Triangle Pattern.
Wait for price to test broken support @90.77 and place sell order targeting 90.50
Descending Triangle
What's cooking with Kotak Bank?NSE:KOTAKBANK is sandwiched between the trendline & 50DMA and the 200DMA.
Interestingly, NSE:BANKNIFTY has created HL-HH while Kotak has created lower highs and appears to have formed a descending triangle.
BABA amazing support Baba is at a Great support from previous resistance and 200 Moving average as well.
Descending Triangle
Has an amazing R/R.
SBI Life descendingtriangle patternSBI LIfe shows e descendingtriangle pattern keep on eyes for big momentum in short term
Divergent Technical analysisCurrently the BTC following s strong downtrend in May, but this downtrend is currently hitting a good support at around 31500, which was already good support in Jan 2021.
This two trendline forming a descending triangle, which is usually a bearish pattern.
At the time know we are trading at the upper edge of the triangle. A break-out could happen, by in my oppinion very unlikely. If its happen it could be impulsive. If we closing a 4h candle be 31500 and get rejected afterwards again at the same limit. This will be the signal for a rapid downtrend. From the baseline of the traingle technical traget will be below 20k. But there also some technical fib levels at 23k an 20k, which can give some support.
Additionally, it should be mentioned that the volume indicators how less trading acivities in the range of 20-30k. If this negativ break-out happen, this could be impulsive.
Keep your eyes open and keep attention to this tow trendlines.
IDEA about IDEA | Positional setupA good positional trade above the green line and breaking of trendline + break of 50 dema :)
Happy trading :)
Day closing basis trade it is ...
Upcoming shorting opportunityJust done my daily TA, if it gets confirmed like this I'll be shorting down there.
Please like if you share my opinion 👍, else I would love to see constructive feedback!
DESCENDING TRIANGLE ICP/USDTHello guys, here we have a descending triangle in ICP/USDT 1HR, i saw it late so i couldnt post it and operated it neither, but i post it now for educational purpose, so you can see how a good descending triangle looks like.
If you would have opened this trade at $184.72 and the price hitted take profit at $169.91, you would had win $14.81 per coin buyed.
Leave me a comment below with your opinion about this triangle and ICP.
Take care XOXO.
ADA USDT SHORT (15) This is not a trading or business advice
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Good morning everyone,
I Being a personal Holder of Cardano since a long time now, but currently the recent moves of BTC and the market (thanks Elon & Cie) means for me a deeper correction (for the middle short therm). And its great for us. This means it's a great relief for the coin after this first run, and this also means its a great entry point for you for the futur.
For cardano we could be dealing with a descending wave (there is still some intermediate support), if we put the height of the downwards triangle this gives us approximately the big support zone around 1.60$.
ENTRY : 1.99 - 1.65
STOP Below 1.60
if we break (UP) and confirm to the north in the next few hours this analyse is invalid.
if we break below 1.60 (unlikely) .... no comment
XRPUSDT forms descending triangle...XRPUSDT forms descending triangle, and obey trendline well. that too present bearish sentiment i hope it will test the support again. so here i am going to short. this is purely my opinion, if you like consider my idea otherwise ignore it.
#mrspray
I suspect SPX will end up like BTCAnd I just need some indicator confirmation before pulling the trigger on some puts.
I don't want to crow too loudly, but lots of crypto analysts on Tradingview and/or YouTube have been posting temperamental TA when they wake up, see a candle, and feel compelled to post an update to their TA. Whipped around all over the place as BTC zig and zagged. Many did not zoom out and have forgotten how to look for bull traps. And a lot of these guys are good, I have seem then call bull traps before. Some of them even saw the bearishness but hand waved it away because "we are in a bull market" and a couple of them got liquidated due to stops being too loose. And I stood on my BTC short call, like I am standing on the over-all bearishness of the S&P and Nasdaq and everything else for the next while.
BTC on the right had a perfectly predictable bull trap due to wedge support support flipping as resistance and hidden bearish divergence on the histogram, and all the other stuff I went into on my linked ideas
Likewise a bull trap on SPXUSD can be very predictable. I have SPXUSD up because it has more price action than SPX or SPY. There are some dissimilarities based on percent gains and slope of the resistance and somewhat concerning, it doesn't look as "wedge-ie" as BTCUSD due to the whitespace. What is similar:
Rising wedge
broke down
Very similar resistance zone (in blue)
I will be watching for price action to go to the blue resistance zone and the wedge. I expect price action to thrash around there for a while and then dump. The most ideal thing I could see is there to be hidden bearish divergence from the peak that is about to form to the SPX all time high, and then! classic bearish divergence within the peak, such as a second retest of the wedge after a small dip. The media will be near schizophrenic trying to come up with news stories and will be contradicting themselves all over the place. But I am not going to be caught flat footed by some tweet by Elon or some bungling statement from the "President."
sidenote
I see a potential descending triangle on BTCUSD... It isn't the main point of the post but still, it means that BTC can bounce and meander around resistance for a couple of weeks even, alts can resume going crazy, and then the rug gets proper pulled. I did a quick skim of some of the BTCUSD ideas and could not see anyone eyeballing the same potential pattern, so I thought I would throw it out there.
