SHIB hit its full falling wedge target with quickness!Didn’t wait around at all to hit this target, no further TA for the follow up move yet I need to reasses the chart and find what it’s next macro pattern will be. *not financial advice*
Bullishbreakout
GME's Swing to $290? Falling Wedge Breakout Alert! 📊✨
GameStop's Falling Wedge Formation: A Swing Trade Analysis
Introduction:
In the ever-volatile realm of the stock market, GameStop (Ticker: GME) has caught the eye of traders once again with its intriguing chart pattern formation. A closer look reveals a falling wedge setup, a classic bullish pattern that suggests a potential reversal from the downtrend.
Analysis:
The falling wedge pattern in GME's chart is characterized by converging trend lines that have been forming over the past months. This pattern typically indicates that the selling pressure is starting to wane, and a bullish reversal might be on the horizon.
As we dissect the chart, the immediate target for this swing trade appears to be the top of the wedge. This level, acting as a significant resistance in the past, could be the first milestone GME might hit as it attempts to reverse its downtrend.
Long-Term Swing Target:
Looking beyond the immediate resistance, the longer-term target for GME could be in the vicinity of the ~$290 region. This ambitious target is derived from the height of the wedge projected upwards from the breakout point, a common practice among traders to determine potential swing targets in wedge patterns.
Strategic Considerations:
For traders considering this setup, it's crucial to wait for a confirmed breakout above the wedge pattern. Volume should accompany this breakout to validate the move, providing a stronger conviction for the long position.
Risk Management:
As with any trade, risk management is paramount. Setting a stop-loss below the lower trend line of the wedge or at a recent swing low inside the wedge can help mitigate potential losses should the pattern fail to materialize as expected.
Conclusion:
The falling wedge formation on GameStop's chart presents an intriguing opportunity for swing traders. With a careful approach, focusing on confirmation and risk management, this setup could offer a favorable risk-reward ratio, aiming first for the top of the wedge and then potentially for the longer-term target in the ~$290 region.
Disclaimer: This analysis is for educational and informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
SiaCoin actin like it wants to trigger an invh&s breakoutIf it validates the breakout on the current breach of the neckline the measured move target is about 2 and a half cents. Nice to see SiaCoin actually doing something for once, been a long while. Must be a true tell sign the bull market is back. *not financial advice*
An update t my Algorand Chart We can see as is common with most cryptos, the Algo went back below the purple trendline after its 1st initial breach above the purple channel. Now that we have broken above again and retested that line as support probability increases significantly for it to validate the breakout this time around. So I have posted an updated chart with the measured move line adjusted accOrdinary to reflect the new expected price target should it validate here. We must remember that often times price will send a few candles above a neckline and then dip back down below anywhere from 1-4 times before the real breakout so there is still a mild probability it could once again correct back below the trendline before it actually validates the breakout. Being that it already has once before though, and that there’s lots of room left to climb on the stochrsi indicator there is relatively good probability that the breakout validation can be confirmed on the current breach above the channel. *not financial advice*
Solana’s breaking above an invh&s that’s also a right shoulder Priceaction is currently above the neckline of this daily chart inverse head and shoulder pattern on solusd with one daily candle close above the neckline so far. Should it trigger the breakout the measured move target is $135 which would put price action above the neckline of a much bigger weekly chart inverse head and shoulder pattern’s neckline. The measured move breakout target for that larger invh&s. Pattern would be around $242. Last October we saw the Dow Jones Industrial chart also start to break above a big inverse head and shoulders pattern that also had a right shoulder which was it’s own smaller inverse head and shoulders pattern just as we are seeing come to fruition now on the Solana chart. We must remember on that chart we had an initial fakeout above both necklines around July so there’s always a chance the initial break above the necklines for this solana chart starts as a fakeout too. However since then, The DJI chart has hit the target of it’s smaller inv h&s target and is very close to hitting its bigger inv h&s target so I’d say using that as a precursor, probability is rather high for solana to also hit both of its breakout targets within the coming months. *not financial advice*
Xrp appears t be breaking up from a 4hr timeframe invh&sAs always with any timeframes under the 1day, the reliability of chart patterns playing out starts to reduce the smaller and smaller the time frame you go to but the 4hr does seem to validate its fair share of chart patterns often enough to take this 4hr inverse head and shoulders serious. If it can reach it’s full target it will climb to 59 cents here Ithink the next few days to a week or two, however we can see the pump is currently running into some long standing resistance that it may take quite a few retests on before it can break through those and head to the full target. The good news is, in reaching the full 59 cent target by breaking above the current resistance, we will likely also trigger/validate the breakout of a much bigger higher time frame chart pattern or 2 that should hopefully create a domino effect and send price soaring in the near future. *not financial advice*
FETUSD finally triggering inv h&s patternsFetch AI validating its inverse head and shoulder breakout patterns here and well on the way to both targets $1.12 for the lower neckline and $1.234 for the higher neckline. Shown here on the weekly timeframe. *not financial advice*
Link daily bullflag target= $23 weekly bullflag target= $25Link starting to act like it’s about to break upward form this daily timeframe bullflag in teal. We can see below that it has already broken upward from the larger weekly timeframe bullflag in pink. Our next stop should be $23 to reach the daily bullflag target and then $35 to reach the weekly bullflag’s target. No guarantee the current candle is the breakout candle but it does feel like even if it isn’t the breakout candle is still just around the corner. *not financial advice*
Hbar breaking above 2 different inv h&s patterns. We can see a pink neckline and an off white neckline here that price has broken above. This should take hbar to a measured move breakout target of around 11-12 cents. *not financial advice*
MINA ANALYSIS🔮 #MINA Analysis 🚀🚀
💲💲 #MINA was trading in a Descending Broadening Wedge Pattern in weekly time frame, give a perfect breakout and trying to retests the levels. If the price of #MINA closes above $1.4000 then we will see a bullish move and also the price of #BTC must stable. 📈📈
💸Current Price -- $1.3803
📈Target Price -- $2.2500
⁉️ What to do?
- We have marked crucial levels in the chart . We can trade according to the chart and make some profits. 🚀💸
🏷Remember, the crypto market is dynamic in nature and changes rapidly, so always use stop loss and take proper knowledge before investments.
#MINA #Cryptocurrency #Breakout #DYOR
Inverse head and shoulder target on bitcoin = 47700Almost to the full breakout target of this inverse head and shoulder pattern I posted awhile back. If you view this same pattern on the logarithmic chart it gives you a much higher target around 64-65k but I think the linear chart’s lower target shown here has much higher probability of being reached. Eventually the other target will get reached but we will probably see a sizable correction before that full target is achieved imo. *not financial advice*
Link appears to be finally breaking up from the bullflag. After countless wicks above the pink channel on the daily time frame, link finally broke upward with authority and has already reached the channel’s measured move target. Once we switch to the weekly timeframe shown here, we can see that channel is also a very valid looking weekly bullflag and the measured move target for the bullflag Breakout is $25.30 or so. Now that it has reached the 1st target of the two (channel breakout) some consolidation or slight pullback before heading up to the higher bullflag target is always possible, but I anticipate it reaching the full bullflag target soon enough *not financial advice*
J_K Bank LONGmulti year breakout beckons.. can go really high.... we will take it step by step. TP 1 first then we will reassess
algo appears to be possibly breaking up from purple channelWe can see here how algo’s current daily candle is confidentially above the purple channel’s top trendline and currently seeing a bullish impulse. If it validates the breakout at this spot the target is around 39 cents. *not financial advice*
ICP can head to $11.11 by maintaining support above pink channelWe can see its noticeably above the pink channel here. If it can maintain solidified support on the top trendline of the pink channel it should validate the breakout and it’s target will be $11.11 …currently we can see the other channel seen here is brown is still resistance at the moment but on the way to the target from the pink channel breakout we will need to also break above the brown channel and flip it to solid support too. Once we do, its breakout target is a little bit higher than the pink ones target so as we head to hit the pink channel breakout target, will likely also hit the slightly higher target of the brown channel breakout as well. *not financial advice*
Cup and handle to watch on the Bluzelle weekly chart. We currently have 1 weekly candle close above the rimline of the cup. I want to see at least 2consecutive weekly candle closes above the rim and a 3rd candle maintaining support before I’m ready to say probability favors a breakout validation. If it does breakout here the measured move will be around 63 cents. *not financial advice*
Will Doge trigger the channel breakout?We can see Doge’s price action has just recently breached the top trendline of this channel its been in for so long. Should it validate the breakout the target from here would be a measured move to 13 cents. Of course there’s always a decent chance that this candle could go back under the trendline before it closes, s as always patience must be exercised here. Of course the closer we get to confirming phase 2 of the bull season the less the priceaction of most chart patterns is going to dip back below the the trendline before the official breakout confirmations so its possible this could validate a breakout on this initial first brea above the trendline as well. I’m personally going to wait and see where this candle closes..I anticipate if it can close 3 consecutive daily candles above or maybe 1-2 weekly candles above the trendline then it is likely to validate. *not financial advice*
Avax confirming the log channel breakout.You can see on this log chart that Avax has confirmed a breakout above the yellow channel. On its way to the breakout target it has los broken above an inv h&s neckline. This is a very asymmetrical inverse head and shoulders pattern as we can see the right shoulder is extremely tiny and the head appears to be Siamese. All the same if this inverse head and shoulders pattern also validate the breakout target for it is around $56. *not financial advice*
If Solana hits full target it will gain 358% from recent bottomMany cryptos are testing the breakout up from a bear flag right now (gala, mana, qnt to name a few). Many of these bear flags flag is also a descending channel. Their flags seem most valid on a weekly chart…I just took a look today at solana and sure enough it also formed a bear flag with a descending channel for a flag, but it is already way further along in its breakout than many of the others. If it reaches the full measured move target which is the length of the flag pole than it will have made 358% gains from the bottom. Also the fact that it has clearly broken upward from its bear flag should increase the likelihood of the other alts currently in the same pattern breaking upward from theirs as well…of course this is not always the case….there has been plenty of times in the past when the entire market was forming cup and handles and only 4-5 of the cup and handles broke up and reached their targets before the rest failed…failures like that usually only occur after we have been in an uptrend for awhile, so since this would be a reversal breakout from the current downtrend it increases the likelihood that most of the patterns should trigger since the bullish momentum is only just now getting started. A good early indicator will be if solana hits the full 100% target. *not financial advice*
15 consecutive daily candles above totals descending channelWe can see price action came back down to retest the top trendline of this descending brown channel with exact precision and held above it now for 14 consecutive 1day candle closes. It is very likely to close a 15th consecutive candle here soon. We can see one wick back below the top trendline of the channel that was ultimately supported by the 1 day 5ma(in orange). That 50ma is now getting closes to rising above the channel itself for added springboard support. We can also see that the daily stoch rsi is reet as well with plenty of room to head upward. Everything is looking very good for the breakout of this channel to be validated in the ear future. *not financial advice*
Greyscale appears to be breaking out from cup & handle patternFresh off the heels of their victory against the SEC, it seems as though it is now very likely this breakout will be confirmed on this cup and handle pattern on the 1 day chart on the GBTC greyscale chart. We can see priceaction has already retested the rimline as solid support before the current big green impulse candle. Also a very nice bullish impulse on the volume candle as well for bullish confluence. *not financial advice*
Solana nearing the precipice of a breakout?We can see that solusd’s price action is now retesting the top trendline of this purple symmetrical triangle it has been in since around august of 2023. Obviously it only matters once we break above this trendline and flip that trendline to solidified support. Until that time one must remain levelheaded and not chase any breakout that is unconfirmed. If it were to trigger a breakout sometime within the next few days the target would be around $50 or slightly higher. The top trendline of this triangle also qualifies as an inverse head and shoulders neckline. We can also see that the measured move target for the breakout from the descending tan channel is above this neckline which increases the probability we will trigger the breakout of the purple triangle on the way up to hit the measured move target of the tan descending channel breakout. *not financial advice*
XRPUSD working on a horizontal channel breakout. Not a sure thing that the breakout will confirm here, always a chance it could correct back inside the channel once or possibly even twice before triggering the real breakout, though of course the current move could easiy be the breakout. Either way sooner rather than alter the breakout should be official and once that happens the target will be around 63-64 cents. For now the current bullish impulse looks very convincing. If it can maintain solid support on the top trendline of the channel then we will almost certainly see the recent deathcross be uncrossed and confirmed a fakeout. *not financial advice*
