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Symmetricaltriangles

Symmetrical Triangle Pattern what is it/ how to draw it? 2/8Symmetrical Triangle Pattern what is it/ how to draw it? 2/8 Bullish Charting Patterns A symmetrical triangle is a chart pattern that forms when the price of an asset converges with two trendlines that are moving towards each other, creating a triangular shape. Here’s how it works: Converging Trendlines: The upper trendline is formed by connecting the descending highs, and the lower trendline is formed by connecting the ascending lows. These trendlines converge at a point called the apex. Volume Decrease: As the pattern develops, trading volume typically decreases, indicating a period of consolidation and indecision in the market. Breakout: Eventually, the price breaks out from the triangle, which can occur in either direction – upwards or downwards. The direction of the breakout often dictates the future trend of the asset. Symmetrical triangles are considered continuation patterns, meaning they usually signal that the prevailing trend (upward or downward) before the pattern will continue after the breakout. Traders often use the height of the triangle (the distance between the initial high and low points) to estimate the potential price target following the breakout. Like l Follow l Share Stay tuned for the other 6 BULLISH CHARTING PATTERNS
NASDAQ:ULTAEducation
by RonnieV29
6
CHARTIST TRIANGLES: HOW DOES IT WORK? ANSWER is HERE!ASCENDING TRIANGLE: Identify the levels where the price has often closed and opened (black line). The price is making higher and higher lows. Draw a bullish diagonal. Take Profit is calculated by plotting the lowest increase on the black line (see graph). Report this segment to the BREAK of the black line, but ESPECIALLY to the CLOSING of the candle in its time unit!!! ___________________________________________________ DESCENDING TRIANGLE: Identify the levels where the price has often closed and opened (black line). The price makes higher and lower highs. Draw a bullish diagonal. Take Profit is calculated by plotting the highest drop on the black line (see graph). Report this segment to the BREAK of the black line, but ESPECIALLY to the CLOSING of the candle in its time unit!!! ___________________________________________________ SYMMETRICAL TRIANGLE: The triangle of indecision, just like the RANGE!! The price is tightening, and we don't know in which direction it's going PETER!!?? Draw a bullish and bearish diagonal. Wait for a break in one of the diagonals. The Take Profit is calculated by reporting the highest side of the rectangle which made a PULLBACK (see my old publication on "PULLBACK") and see graph below. Report this segment to the BREAK of one of the diagonals, but ESPECIALLY to the CLOSING of the candle in its time unit!!! STOP Loss below the previous low if you are BUYING. STOP Loss above the previous high if you are SHORT (Seller). ​
Education
by Le-Loup-de-Zurich
Bitcoin - Symmetrical Triangle & RSI Descending ChannelBitcoin is nearing a breakout from a symmetrical triangle: -The descending trend line started around the initial liquidation around the 19th of May, at around 41,000 USD -The ascending trend line started around some large buy-side volume when prices dipped to as low as around 29,000 USD The RSI descending channel is nearing it's top trend line where it historically rejects. What does this mean? In theory, the symmetrical triangle should take us to 41,000 USD or 29,000 USD following the breakout/breakdown. Considering the RSI trend and oversold & fearful conditions of the market, I am Bullish.
INDEX:BTCUSDLong
by TheBadManner
AUDUSD Sell Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. on DAILY: AUDUSD is sitting around a strong resistance/supply so we will be looking for sell setups on lower timeframes. on H1: AUDUSD is forming a symmetrical triangle in red, but it is not valid yet, so we will be waiting for a third swing to form around our lower red trendline to consider it valid and sell on its break downward. Trigger: Waiting for a momentum candle close below the gray area to sell. NB: Until the sell is activated, this one would be overall bullish. Good luck!
Short
by TheSignalyst
Bitcoin: Another movement UpCurrently, in the chart presented above, there is a symmetrical triangle, something that has occurred on various altcoin charts, if bitcoin can break to the upside of this symmetrical triangle, it is likely there will be another run to the upside for the entire crypto community, however, it is important to note that most charts against BTC are bearish, so it is most likely better to invest/trade with bitcoin at the current moment. There was a symmetrical triangle within the RSI representing the symmetrical triangle of the price action, the symmetrical triangle on the RSI has broken the upper trendline, however, this break needs to be confirmed by price action, otherwise, it is likely a false break. In addition, the RSI should not be given more credence than price action itself. Another important thing to note is that the RSI bounced off of 35 which is still within the bullish range. As for the symmetrical triangle on bitcoin itself, an upward break would be denoted by a break and consolidation above the upper trendline of the symmetrical triangle or we will see a convex curve to the upside with accelerating price rise. A bearish break will most likely occur with a bull trap, or a concave curve to the downside with accelerating price fall. Generally, in most books, the symmetrical triangle has a 50/50 chance of breaking either direction. Note: I am still waiting for a retest of 14k, and my approximate analysis would give a retest approximately 16/23 or ~70% chance of occurring. The symmetrical triangle: Previous Analysis:
COINBASE:BTCUSD
by CuddlyCuddles
BTC Ensuing Tug of War Bullish Components "Symmetrical Triangle"We are starting to see "Perfect" vibrations within the Symmetrical Triangle formed on BTC.. This 13800 approx axis will be one for the history books and for us Heartbeaters we will range BTC Bullish and Bearish from her.. Best of luck and note that these are generally bullish or at least you´ll see a solid throwback allowing you to recoup if you don´t get shaky hands (you might just have to wait is all poor soul) We only recommend DCAing now because we are currently averageing peeps in general until we work out how the Heartbeats system of pattern recognition can help us margin trade to perfection.. Merry Christmas !! PS see the link for a lame vid on the first PVH being discovered !
BITSTAMP:BTCUSDLong
by Benjamix