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Broadening Wedge

OH MY $SPY !! Here is my full analysis - Lots to Review!$SPY has me on the edge of my chair here on the weekly and boy is there lots to review.. Let's start with where we left off last time..  The INVERSE HEAD & SHOULDER is still in play, I know, I sound like a broken record, but it's true, not broken, and we closed the daily on the $390 support level to back up this theory. (Green Outline) represents a BROADENING DESCENDING WEDGE (Bullish) which has been respected since the beginning of the year in January. A bounce off $390 will send it upwards to a 3rd tap of the upper trendline and possibly break-through. A break through does not necessarily mean new ATH, OMG we broke through, "new all time highs" .. umm no sir .. this particular pattern could break-out and epically FAIL.. here is why.. (Purple Outline) is highlighting a RISING WEDGE (Overall Bearish) - should we hold the line here, at $390 on the weekly, this pattern will continue upwards to tap the upper trend for a 3rd time (generally followed by a heavy rejection - hence bearish), this compliments the INVERSE HEAD & SHOULDER mentioned above, but technically would end up failing as it nears the neckline aka top channel of the rising wedge.  But let's not lose sight so quickly, we still have to hold the line near $390 tomorrow in order for these patterns to play out without failure. I provided a chart earlier today from my phone of the current falling wedge on spy 15 min - 1 hour time frame so I am hopeful for a run up BUT if we break below -- there are many areas of support and plenty of gaps to fill and trades to be played. GAPS are marked in RED.  Good luck traders!
AMEX:SPY
by ChaldeaCode
8
$DOT/Broadening Wedge In the Money Zone (PENDING)$DOT has formed a nice broadening wedge at the 886 range from the last swing high to swing row and is now trying to establish/validate a new local higher low above $6.76 at the $7 range. The MACD and RSI has printed hidden bullish divergence on both oscillator's indicating that momentum is started to build back up to possibly break through the top of the wedge and have a nice run... We were due for a pullback after the last few weeks being manly green candles.. Overall, this is healthy price action and I don't think anyone should be panicking, as this is just traditional price action after a good few weeks for crypto...We also got some good news from the ETH merge. Cheers **DISCLAIMER, THIS IS NOT AN ACTIVE TRADE ATM, I AM JUST FOLLOWING THE STANDARDS OF TRADITIONAL TECHNICAL ANALYSIS. ANYTHING CAN HAPPEN**
BINANCE:DOTUSDLong
by BShellhammer
1
S&P 500 - A new all-time high this year! | Elliott Wave + Wedge SPX500, together with Nasdaq, has incredible power and is a great opportunity for traders and investors. On the 4h/daily chart, we have a descending broadening wedge, so you can wait for a breakout of this pattern to enter a long position.  According to my Elliott Wave analysis, an ABC correction has ended, and there is a strong possibility of a new impulsive wave to the upside!  As you can see, we have a total of 3 trendlines on this chart, which prints a very nice market structure.  The previous all-time high is the next stop, and after that, we will go much higher. The price is currently sitting on the 0.618 FIB, which is definitely the strongest fibonacci level that provides a tremendous buying opportunity at this point. Look at my ideas about Bitcoin, Ethereum, and TOTAL crypto market cap in the related section down below. For more analysis, please hit "Like" and "Follow"!
SP:SPXLong
by UnknownUnicorn2537518
80
🤖 #BTCLIVE - 05.08 - #IDEA 🤖🤖 #BTCLIVE - 05.08 - #IDEA 🤖 70:30 Long-Term Bullish:Bearish Technical Analysis: Current Status: Confirmed a descending broadening wedge - since the 1st August with the latest to failed breakouts. These are particularly bullish patterns - based on historical data showing a 79% frequency of breaking up from them. In the same data set it is claiming a 33%, although suggest you ignore that. With options expiration there is expected volatility which could see the breakout happen today although based on the most recent rejection we have seen some good support come at the POC line and 20 DEMA was lying in wait just below too. If it breaks out again things are turning v.bullish although breakout is not confirmed yet. Bullish Scenario Breaking and retesting $23.4k will see a short term target of approx. $24k and a bigger term target of $25.5k Bearish Scenario A Break down and retest of $22.7k will likely start the descent to $21.5k at the lower range of the longer term - breaking down on that will spell major bloodshed. Key News: - Pornhub no longer uses VISA/Mastercard likely to fall back on Crypto - Coinbase has received a class action lawsuit alleging the #crypto exchange made false claims regarding its business activities - Options Expiration - Elon Musk said to expect a recession Metrics: Exchange + Exchange Reserve - As the exchange reserve continues to fall, it indicates lower selling pressure. - Exchange Netflow Total - Net deposits on exchanges are high compared to the 7-day average. Higher deposits can be interpreted as higher selling pressure. Miners / Miners' Position Index (MPI) - Miners' are selling holdings in a moderate range compared to its one-year average. + Puell Multiple - Miner's revenue is decreasing significantly compared to the cost they put in. This could indicate that price is undervalued along with the increasing miner's motive to hold their coins. On-Chain + aSOPR More investors are selling at a loss. In the middle of a bear market, it can indicate a market bottom. + Binary CDD - Long term holders' movement in the last 7days were lower than the average. They have a motive to hold their coins. + Net Unrealized Profit and Loss (NUPL) - Investors are in a Fear phase where they are currently with unrealized profits that are slightly more than losses. + Transfer Volume - The total number of coins transferred has increased by 315.00% compared to yesterday. + Active Addresses - The total number of active wallets used to send and receive coins has increased by 21.00% compared to yesterday. + Transactions - The total number of transactions has increased by 72.00% compared to yesterday. Sentiment + Coinbase Premium - US investors' buying pressure is relatively strong in Coinbase. - Korea Premium - Korean retail investors' buying pressure is relatively strong. - Fund Premium - Investors in funds and trusts including Grayscale have relatively weak buying sentiment. Derivatives + Funding Rate - Long position traders are dominant and are willing to pay to short traders. - Taker Buy Sell Ratio - Selling sentiment is dominent in the derivatives market. More sell orders are filled by takers. / Open Interest - As OI decreases, it indicates investors are closing futures positions and possibility of trend reversals. In turn, this might trigger the possibility of long/short-squeeze caused by sudden price movement or vice versa. + Liquidation - 15624591.41 of short positions were liquidated in the last 24 hours.
by Kryptochristian
HLF: It was just a bear market rally?Herbalife Nutrition Short Term - We look to Sell at 24.72 (stop at 26.71) Price action has formed an expanding wedge formation. A move higher faces tough resistance and we remain cautious on upside potential. Selling spikes offers good risk/reward. Further downside is expected. Our profit targets will be 19.00 and 17.00 Resistance: 25.00 / 37.50 / 56.00 Support: 19.00 / 15.00 / 12.00 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
NYSE:HLFShort
by VantageMarkets
RLC/USDT LONG SCALP SETUP! Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this RLC trade setup. RLC looks good here. Breaks out from the bullish descending broadening wedge pattern in 2hr time frame. You can open a long position here with the tight stop loss. Entry: At CMP and add more up to $0.94 Target1:- $0.99 Target2:- $1.04 Target3:- $1.08 Target4:- $1.14 SL:- $0.90 Lev:- 5x-10x If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Long
by CoreCrypto1
4
Bitcoin BTC - New bull market just started! Elliott Wave + Wedge The price is currently above 22 000 USD and we have had a capitulation wick to 17 600 USD to kick out high leverage traders. I do not see any reason why bitcoin should not respect the previous all time high support from 2017 (around 20 000 USD)! Bitcoin on the weekly chart is currently sitting on the main support: Previous 2017 Swing high + 0.382 FIB + ABC correction completed! The price is forming a falling wedge pattern, which is definitely a good sign that can lead to a new bullish trend. As per my Elliott wave analysis - ABC correction (ZigZag 5-3-5) should be completed successfully and we can start a complete new impulse wave. Only Bitcoin is a safe bet for the longterm. It's the best store of value and altcoins are awesome for short-term to mid-term massive gains. I expect tremendous pumps for selected altcoins, you can find them in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
62
Binance BNB - Strong buy signal! + Elliott wave + Triangle Elliott wave analysis on BNB was really hard, but this is my outlook on the 4h / daily chart. Don't forget that BNB on the weekly / monthly scale is extremely bullish, so we should follow the main trend. We have a broadening wedge / descending channel, which are usually both bullish patterns. Also the price is printing a local ascending triangle in the end of the trend - good to see! Impulse Elliott wave for this huge downtrend should be completed and it is possible that we will never see this low price again. BNB is indeed one of the most bullish altcoin in crypto. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
27
TrueFi TRU - Downtrend is over, can pump hard! + Elliott Wave Due to my technical analysis, i think this downtrend can be over and we can expect a pump anytime soon! On the daily chart we have a broadening wedge and also a local ascending triangle, both bullish patterns. If we take a look at the RSI indicator - we can spot a bullish divergence, always great to see. As per my Elliott wave analysis, the massive impulse wave to the downside should be completed and because of that, I expect an ABC retracement. Main Profit target is 0.618 FIB + end of the wave 4 (High liquidity area). We can also get stopped by the descending blue trend line, but i think it will break up! Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" & "Follow"!
Long
by UnknownUnicorn2537518
15
Right Angled Descending Broadening WedgeChart Story here is.. from a Ascending broadening wedge the bears took it down.. and there was a great chance that a Bullish divergence would appear. It did... course went up and so a Descending triangle formation was there to bring the course down again. Because the price then widens a bit on the downside in a sideways move, I consider it a Right Angled Descending Broadening Wedge for now. Besides this pattern, you could probably also make a W pattern out of it but the characteristic of the Broadening wedge is "often", that after hitting the top or bottom 2 or 3 times the price comes back halfway during a rise or fall and then breaks out. these scenario's makes it possible to trade them but in times of macro economic uncertainties at the moment, caution is advised at all times. manage your risks at all times. disclaimer: this is not a financial advise
TVC:SILVER
by Tims.Technische.Analyse.
ADAUSDT wants new liquidityThe price got a rejection from the 0.618 Fibonacci level, where the price created the Neckline of M pattern. The price created a double top as well on 0.5$ level. How to approach? The market created a demand zone on 0.42$, so the price could create a bearish impulse in order to grab new liquidity for the reversal trade. According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
2
long term logarithmic growth fan pattern horizontal supportthe gann fan and log view with broadening wedge indicates stock is trending toward long term support. if we cant close over the 4/1 monthly its probably headed for that lower trendline. were at horizontal support so a bounce starting here would probably head for the 2424 area. closing above the mid 2400s and we could head for 2988 where TRAMA is currently hanging out. if 2050 breaks it could go as low as 1785 but its much more likely we see a monthly bounce soon.
NASDAQ:AMZNLong
by cerealpatterns
BTC: $32K NEXT, HERE'S WHY?Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this BTC update. BTC made a low of $28,700 and now I'm expecting an upside movement. BTC is forming a descending broadening wedge pattern in the 4hr time frame. If this pattern plays out perfectly and holds the $28,700 level then we can expect it to reach the upper trendline of the wedge. You can also open a long position here with the tight SL of $28,500 and target will be $32k-$33k If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Long
by CoreCrypto1
1
Descending Triangle for WEED?wow, hard to believe canopy is getting near my entry point in 2016-2017. This stock has been a rollercoaster since rec legalization in Canada. A Potential trading range is highlighted in green. Any price movement that is sustained below or above the green lines is noteworthy. If WEED doesn't hold the green line of support a gap down to CAD $2.80 is highly probable. If WEED breaks to the upside out of the downward sloping resistance of the broadening wedge go long, set your stop loss above the resistance line, and trade accordingly. If the top of the broadening wedge doesn't hold as support a decline back down to the baseline support is likely and it was a fake-out.
TSX:WEED
by ScotianBot