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Rectanglepatterns

GBPUSDBULLISH Rectangle Chart Patterns A rectangle is a chart pattern formed when the price is bounded by parallel support and resistance levels. A rectangle exhibits a period of consolidation or indecision between buyers and sellers as they take turns throwing punches but neither has dominated. The price will “test” the support and resistance levels several times before eventually breaking out. From there, the price could trend in the direction of the breakout, whether it is to the upside or downside.
by aboalreesh
1
KHC: WARREN BUFFET'S HOLDING BREAKOUTKHC (Kraft Heinz): I like the risk vs reward on the daily chart as it broke the neckline of an inverted head and shoulders and has just come to retest the breakout spot. Good enough for a long swing trade for me. Target of the inverted head and shoulders is in the 45 zone. If you look at the weekly chart, you'll see a nice rectangle range between 32.65 and 44.65. We're now in the middle of that range so if the inverted head and shoulders plays out we could reach the top of the rectangle. Stop at 38.2. Trade safe!
NASDAQ:KHCLong
by Elpidaldo
HD: RECTANGLE PATTERN AND FULL TECHNICAL ANALYSISHD ( HOME DEPOT ): Consumer Cyclical - Home Improvement Retail. Home Depot is included in the Down Jones Industrial Average. My technical analysis on the stock: The current downtrend took the stock 37% of its all time high of January 2022. On June 23, HD initiated a strong bounce to $333 off the $265 level. On August 17, HD initiated a huge drop back to 265, to bounce back again to the 330 zone where we currently are. The stock is currently down 22% off its all time high. Is this a buy? No one knows, but let's look at technical analysis to help us make a decision. As we see from the chart, the 265-269 zone is acting as a strong support while the 328-333 zone is acting as a strong resistance. All of the above has created a nice range in the shape of a rectangle. A rectangle is formed when the price is confined to moving between the two horizontal levels, creating a rectangle. The pattern can indicate a few things: - that the downtrend has paused and the stock is now consolidating before a continuation down. So back at the bottom of the rectangle and break down. - that the downtrend has stopped and we're looking at a change of trend. Kind of bottoming pattern. So basically it can keep ranging for a while and break to the upside OR break to the upside in the next few days. The rectangle ends when there is a breakout, and the price moves out of the rectangle. Considering the above there are several ways to trade it: 1. If you think the price will keep consolidating within the range, you can short the stock at the top of the range . Your target is the bottom of the rectangle, with a stop just above the rectangle. 2. if you have a more bullish view, you can wait for a breakout off the rectangle and go long the stock , with a stop below the top line of the rectangle. All targets are mentioned on the chart (blue lines). Rectangle ultimate target being $400. I'm leaning slightly bullish here because moving averages have started to rise, and I like the triple bottom, but who knows. Whatever your opinion is, best is to manage your risk. Trade safe.
NYSE:HD
by Elpidaldo
2
GBTC versus BTCUSD (Bitcoin)(1) 🔬 Dividing the GBTC price by the BTCUSD price, we have this chart in a downtrend. This indicates that GBTC has underperformed Bitcoin. 🟢 The price spent most of the time in the green rectangle, threatening to break out several times. In March 2021, GBTC broke out of this rectangle. 🟣 Projecting this rectangle downwards, in a new purple rectangle, we have a possible target, which culminates exactly in Fibonacci prediction 2. Price is currently in the middle of the rectangle, testing the 1.516 forecast. 🐂 For a bullish reversal to materialize, price needs to break out of the exponential 55-period Bollinger Bands' bear channel: (2) 🆚 Bitcoin's MarketCap vs GBTC's MarketCap 📈 MarketCap of Bitcoin: 📈 MarketCap of GBTC: 🧮 If we divide the GBTC marketcap by the Bitcoin marketcap, we have a percentage of 1.95%. 🤔 Question: In the worst case scenario, if GBTC and Genesis go bankrupt, and if Grayscale sells all the Bitcoins it claims to have, what would be the impact on the price of Bitcoin? (3) 📈 GBTC price On the diagonal Fibonacci channel, the price touched the -0.5 retracement. ❓ Question 1: On the vertical Fibonacci retracement, will price test the 0.618 retracement at $7.06, stretching wave 5? ❓ Question 2: Or will the price go even deeper, hitting the 0.5 retracement at $3.68? 🐻‍❄️ If this happens, the DMI SMI oscillator could indicate a key moment rarely reached (see green circles).
G
by andre_007
Clean setup, Good returnsExtremely clean setup, Breaking the rectangular pattern. Atul Auto went highly bullish , 55% up after braking the consolidation range. This one I hold in my portfolio. Only regret I have is why didnt I add more. Gap is perfect, Weekly resistance level broke with good volume , Breakout came with good volume . Sustaining the breakout with volume , Broke 200 DMA weekly with a gap. What more do you need for entry in this? Accumulation should start for targets of 335, 375, 410 levels.
NSE:ATULAUTO
by RavRutvik
Hang Seng Tech Index: Rectangle May Hint at Trend ResumptionThe Hang Seng Tech Index appears to be carving out a Rectangle chart pattern on the 4-hour setting. The ceiling seems to be at 4883 with the floor at 4300. Breaking above could open the door to extending the mid-March bounce, but that would place the focus on a long-term falling trendline from February 2021. The latter may reorient the index lower. On the other hand, clearing the trendline could open the door to a material change in trend. Breaking under the rectangle exposes the 23.6% Fibonacci retracement at 4044 before the March low comes into play at 3463. HSI:HSTECH
HSI:HSTECH
by QM_Dubrovsky