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Broadening Wedge

STANDARD BANK (SBK) 4-HOUR TIMEFRAME SHORTIn the spirit of load-shedding in South Africa, i decided to try out the dark theme. Without futher ado, let's start our analysis. The price for this stock is forming a descending broadening pattern, and i expect it to continue to bounce against the pattern's support and resistance zones. The price for this stock is currently creeping towards a resistance level at the 19 650 mark, and it will be interesting to see if prices will break this zone or reject and continue lower. A possible target for a short position is the 18 280 level. I would only open a small position, as this trade is likely to be against the prevailing trend, as the 200 moving average is currently below the price, signalling bullish bias. Well, so much for indicators!
JSE:SBKShort
by munyaelliott
CVC is doing an $LTC MoveHi friends! Ive recently noticed a very familiar price action that we saw on $LTC in recent months on CVC. If it does follow the pattern, it will likely send $CVC on a 200% rally from its current price. We have also seen similar behavior on $KMD and $STORM. It has recently bounced from its 200 day EMA and has stayed above it since March 10. That's it guys. I welcome your feedbacks. This is just a guide, not a trading advise. Hit like and follow for more chart updates! Thanks -Your Poop Trader
CLong
by PoopTrader
1
Everything under control. Was it trap? I warned!Come on. Everything under control. Broadening WEDGE enabled. It was a beautiful BULL TRAP coming out of a large Falling Wedge followed by a False BULL FLAG. Great move. Great trap. Bears are still in control, are not they? Take a look at my previous STUDIES and they will prove the armed farce. You were warned. I'M NOT TOP TRADINGVIEW I'm not a FAMOUS I do not want your MONEY I'm here to help you And in the end I'm the CRAZY! It was a BEAUTIFUL SHORT SQUEEZE
BITMEX:XBTShort
by f3rG0D
2
DJIA on Wave 3 in Broadening PatternWhile studying the charts, I noticed that a 2.618 Fibonacci extension nicely coincides with the top trend-line of a potential broadening pattern. Do I believe this will play out? No. Is it possible? Definitely. I doubted we'd see 26,000 without a wave down, so at this point, what's another 1000 points up. No big deal in this crazy market. Please see my other chart for a bearish outlook that predicts the formation of a symmetrical triangle. Tips are appreciated if this plays out and helps you get ahead of the market in the coming months: ETH: 0x13cd45d7d282ee0ee4635645cce2e2a566d9bed8
DJ:DJILong
by Cryptogold14
1
#ELF unleashedELF have been in accumulation for long and even in this pump didn't fully achieved targets. We are inside a broadening wedge and we are going for the kill before mainnet release at 31st March. ABCDE Wave pattern will be completed soon giving us a reversal buy zone, I'd like to call attention that point E (buy) more often than not reverses half way to bottom, and we have here some pretty sweet spots to get ELF, being them 61.8%, 78.6% fibos and finally bottom of broadening wedge and support at 2868 sats. Our macro targets here are huge, and we didn't even achieved this time algo target of -23.6% fibo or 127% ext fibo Breakout zones: 3250 - 3340 - 3449 - 3592 > open to Macro targets - breaking this ranges will take us above, they are resistances our main resistances to achieve macro targets. Take-profit zones: 3617 - 3855 - 4158 > MACRO > 4543 - 4731 - 4969 - 5657 open to 6771 - last and respectively 361.8% fibo As a heads up, we have been profiting quite few times with ELF swings and this major move was expected already where we booked 36% profit, If you'd like to join us or more info, PM, we are a free channel.
Long
by Jnsane
Right Angled Broadening Wedges - Short 20x Bitmex NOWIdentifying a Right-Angled Broadening Wedge Right-Angled Broadening Wedges come in two varieties, ascending and descending. They consist of a horizontal trend line and a sloping trendline . The Ascending Right-Angled Broadening Wedges (ARABW) have an ascending trendline above the horizontal trendline with price action in between. The Descending Right-Angled Broadening Wedges (DRABW) have a descending trendline below the horizontal trend line with price action in between. With both versions price broadens over time. Prices should be seen to touch both trendlines twice. Two touches to form the horizontal trendline and two touches to form the sloping trendline . Breakouts from these two patterns often follows a partial rise or a partial decline. What is a partial rise or decline? After the two trendlines have been formed the pattern can be identified. When price rises off the lower trendline , and doesn’t reach the upper trendline before falling back to the lower trendline . This is a partial rise. When price falls off the upper trendline , and doesn’t reach the lower trendline before rising back to the upper trendline . This is a partial decline. More often than not a breakout from the pattern will follow. The partial rise or decline never happens after the breakout.
AShort
by f3rG0D
Right Angled Broadening WedgesIdentifying a Right-Angled Broadening Wedge Right-Angled Broadening Wedges come in two varieties, ascending and descending. They consist of a horizontal trend line and a sloping trendline. The Ascending Right-Angled Broadening Wedges (ARABW) have an ascending trendline above the horizontal trendline with price action in between. The Descending Right-Angled Broadening Wedges (DRABW) have a descending trendline below the horizontal trend line with price action in between. With both versions price broadens over time. Prices should be seen to touch both trendlines twice. Two touches to form the horizontal trendline and two touches to form the sloping trendline. Breakouts from these two patterns often follows a partial rise or a partial decline. What is a partial rise or decline? After the two trendlines have been formed the pattern can be identified. When price rises off the lower trendline, and doesn’t reach the upper trendline before falling back to the lower trendline. This is a partial rise. When price falls off the upper trendline, and doesn’t reach the lower trendline before rising back to the upper trendline. This is a partial decline. More often than not a breakout from the pattern will follow. The partial rise or decline never happens after the breakout.
AEducation
by f3rG0D
1
LMAO! BULL TRAP? YEAP - BROADENING WEDGEThat's really funny. The trap is armed! A FALLING WEDGE IN A ROLLING TRIANGLE With a BROADENING WEDGE? I'm literally ready to see it! To the moon? 100k? Just a lunatic to believe that. Or rather, the same that follow the great TOP TRADINGVIEW. You are too funny. Stop spreading false specs. Look for another job. This movement is totally bass. Come on UKRAINE TRADER copy everything you can, you need to sell your signals, right? They are very rare and arise only at the end or in the final stages of a long bull market. Normally, they assume the appearance of an inverted symmetric triangle, and may also appear as ascending and descending triangles. The symmetric type consists of a series of price fluctuations, by means of a horizontal axis, with each tertiary top higher than the previous one and each tertiary fund lower than its predecessor. When we connect the tops and bottoms with two straight lines, we will see that the tops are inclined upwards, and that of the tops are inclined downwards. Unlike the triangles, whose limits are respected, in the formations of enlargement, the ascents and descents are not always interrupted in the limit of the lines, making a little difficult its tracing. The pattern also contradicts a lot in the sense that a penetration of a previous top usually indicates a resumption of the bullish trend while the breach of a previous fund commonly signals either the beginning or the continuation of a bullish trend. I AM NOT FAMOUS I DO NOT WANT YOUR MONEY I will not get you wrong
BITMEX:XBT
by f3rG0D
1
BLZ Bullish CaseHi friends! Welcome to PoopTrader's forecast for $BLZ There are a lot of reasons to believe $blz is about to melt faces and could very well steal the limelight from waves and $strat. First reason, a bullish diversion signal appeared in 1D Chart which spans to over 30 days. Second is that it recently broke out from a falling wedge which is bullish. Third is that it is about to complete a full blown broadening wedge at the bottom which could be prelude to huge bullish targets in the coming days. Poop targets are in the chart. This could be overly optimistic targets for some but you all know what crypto is capable during #altseason. This is just a guide, not a trading advise. Hit like and follow for more chart updates! Thanks -Your Bullish Poop Trader
Long
by PoopTrader
Komodo ($KMD) Wyckoff Accumulation AnalysisHi friends! Welcome to Poop's Wyckoff Analysis on Komodo. Ever since I learned about Wyckoff Method, I began to include it in my trend trading strategy for the simple reason that it is among the best tools a trend trade could use to spot bottoms and top formation. Today I'm showing you how it looks on $KMD Chart and hopefully aid you in your trading. $KMD is on a slight variation Wyckoff Schematic -2, That looks like a broadening wedge bottom, specifically its already at its Phase D on Wyckoff Events and Phases. It of began to show signs of forming accumulation on an broadening wedge bottom on Aug 22 last year specifically on the Secondary Test on wyckoff events after a correction from the point of Automatic Rally . This is the point where I began to follow its progress. Currently, it is sitting at the Back UP or the Last Point of Supply after it has corrected from its recent top which was a Sign of Strength in the Wychoff Events. This point is coincides with the end of wave 2 (Elliot Wave Count) a buy opportunity to take advantage of the trend reversal which could potentially give us a 70% mark up . After this target it will likely have a correction that could likely bounce at a resistance turned support (Upper blue line). This will be our second buy opportunity that can give us a target of 65% move . The entire projected move is around 150% from its current price level. That's it friends, I looking forward for your comments on this analysis. A definition of terms on the labels included in the chart is at the bottom, for your appreciation. This is just a guide, not a trading advise. Hit like and follow for more chart updates! Thanks -Your Wychoff Poop Trader Definition of Terms Included in the chart label: PS—preliminary support , where substantial buying begins to provide pronounced support after a prolonged down-move. Volume increases and price spread widens, signaling that the down-move may be approaching its end. SC—selling climax , the point at which widening spread and selling pressure usually climaxes and heavy or panicky selling by the public is being absorbed by larger professional interests at or near a bottom. Often price will close well off the low in a SC, reflecting the buying by these large interests. AR—automatic rally , which occurs because intense selling pressure has greatly diminished. A wave of buying easily pushes prices up; this is further fueled by short covering. The high of this rally will help define the upper boundary of an accumulation TR. ST—secondary test , in which price revisits the area of the SC to test the supply/demand balance at these levels. If a bottom is to be confirmed, volume and price spread should be significantly diminished as the market approaches support in the area of the SC. It is common to have multiple STs after a SC. Test— Large operators always test the market for supply throughout a TR and at key points during a price advance. If considerable supply emerges on a test, the market is often not ready to be marked up. A spring is often followed by one or more tests; a successful test (indicating that further price increases will follow) typically makes a higher low on lesser volume. SOS —sign of strength, a price advance on increasing spread and relatively higher volume. Often a SOS takes place after a spring, validating the analyst’s interpretation of that prior action. LPS —last point of support, the low point of a reaction or pullback after a SOS. Backing up to an LPS means a pullback to support that was formerly resistance, on diminished spread and volume. On some charts, there may be more than one LPS, despite the ostensibly singular precision of this term. BU—”back-up” . This term is short-hand for a colorful metaphor coined by Robert Evans, one of the leading teachers of the Wyckoff method from the 1930s to the 1960s. Evans analogized the SOS to a “jump across the creek” of price resistance, and the “back up to the creek” represented both short-term profit-taking and a test for additional supply around the area of resistance. A back-up is a common structural element preceding a more substantial price mark-up, and can take on a variety of forms, including a simple pullback or a new TR at a higher level.
Long
by PoopTrader
6