Descending Broadening Wedge
EURCAD SYMMETRICAL TRIANGLE, BROADENING WEDGE, MOVING AVGEURCAD D1
Symmetrical Triangle, break out either direction
Broadening Wedge Inside Triangle which usually Sells Off 55% (Bulkowski )
100 and 200 ma crossing suggests Down Trend
Right now price is stymied by 100ma on WK Volume needed to push lower.
Price resistance above by 50 ma. Volume needed to move lower.
Historically in downtrends price remains below 50ma giving more rise to short bias.
Sell Signal: When Daily closes outside of trendline on triangle.
I believe this price action is representative of the weekly changing trend direction
and creating a new channel. Hence, the broadening wedge.
She's most likely a sell at the appropriate time
AUDNZD Long: Expanding Wedge Complete at Critical LevelGreetings traders! AUDNZD has reached an important level. The 4H shows a nice expanding triangle that may add support near a potential point E. On the daily chart, there is strong support from a parallel channel. In addition to this, we have two precisely confluent fib levels (1.272AB=CD and 1.5AB extension). Since I'm seeing some pin rejection at the base of the channel, a tight stop may be placed below the pins. If price makes new lows, it is time to re-evaluate. If not, it may be possible to catch a larger move toward the missed monthly pivot for June which would mean major pippage and a trade with great R/R.
Bullish Confluence:
Expanding wedge support
1D Parallel channel support
RSI Oversold
3 missed pivots above price, including an unhit pivot for June
Happy trading!
Broadening Wedges Descending in FormationBuy Break out Resistance at 1263-1264 SL at 1250, Better Buy throwback if there's one with a Stop loss at 0. profit taking can be very high if the structure is valided by the market. look at the graph..
ADTN: Broadening Top, right-angled and descendingADTN
Breakout has not occured yet but for upward breakout, target price is 17.31 and downward breakout's target price is 12.44. Currently, it looks to be best setup for an upward breakout. Swing traders can short now if they want the intraformation trade and buy when it shows the reversal.
thepatternsite.com
thepatternsite.com
Aussie Long Set up to 0.807 and 0.89Price broke out from the falling wedge pattern on divergence (on lower TF chart).
Yesterday's candlestick formed a doji and we can expect a dip to 0.7705, a preferred level to take long positions
First target comes in at 0.807
Leave the second target to 0.89 (Long term, at least 2 months) and move to 0.78 when first target is reached.
Advantages:
Initial risk is for a rally to 0.807
On daily close above 0.781, move both trades to BE
When trade 1 reaches TP, move trade 2 SL to 0.78
Collect +ve swaps as well
Fundamental Risks:
RBA could sit tight going forward on recent Q1 GDP print of 0.9% + better than expected jobs report
FOMC next week see's no change but could maintain a hawkish view on rates
USD likely to decline in the run up to rate hikes
Dollar/10yr Treasury spread chart below shows a potential rally to 42, which if holds could see a renewed decline to the downside after a break of the rising trend line. Next support at 36 and then 31 if 42 forms resistance.
GBPUSD - Chart PatternsNotes on chart detailing the various moves based on chart patterns. Expecting a rally to 1.545 - 1.55 and then a decline to 1.51 - 1.50 and eventually to 1.495 and 1.465 (if the H&S is validated and price breaks below 1.50 support (a strong level).
*This is an H4 compressed chart, so the timeframe for this tp play out will be days/weeks
Descending and Broadening Wedge - Longdetails and approx. levels in chart.
(pattern statistics by Bulkowski).
good luck
Return to the breakdown zoneIt's hard to define exact levels of resistance around this area, but we seem to have a descending wedge into strong support here in the $210s, which should result in snap back up for a correction. After that is anyone's guess, but I'm still leaning toward a long term bear market.
Given the oversold condition, I would say a snap back to the $240s is likely. There was a good breakdown trade opportunity at $235, but I missed it. That said, I think there will be more shorting opportunities in the future. Volume is nothing spectacular at this moment, so we should see a break in the selling soon.
Bullish on TTWOBullish divergence, break desending wedge, volume confirm. stochastic out from oversold. one white soldier confirmation and continuation
GOLD MINING Itself To New Lows - XAU/USDAfter a big bearish run Gold found support at 1200.00 as far back as June 2013 and has since been stuck in a descending triangle. As price has been squeezed lower we saw a false breakout at the end of September 2014.
Since this breakout we have seen price create this descending wedge.
More recently price broke out of this wedge, retested the trend line, before continuing back down to hit support at 1200.00 yet again. However following Thursdays Non-Farm Payroll announcement, a breakout past the support occurred and was able to close below this level.
A retest of the 1200.00 level as resistance would create a great entry to short this pair in a bearish continuation whilst the USD is still growing in strength...
USDJPY Descending Wedge Into Previous StructureLooking at a long opportunity here on the USDJPY for a few reasons. The first is a retest of our previous outside return and the second is the descending wedge pattern that exist. I'm typically not a wedge, triangle, flag, or pennant trader, but I am a structure trader so when all the starts are in align I take it.
SYNDICATE members I'm producing a video as we type with a more in depth look at the mindset behind this trade idea along with a few other setups as well.
$DJI - No Pasaran! - Descending Broadening WedgeNo Pasaran! - i.e. "They shall not pass!!!!!!" The upper red line opens for the bulls way to the level 18,000. And then what? Another half year rally.
thepatternsite.com
en.wikipedia.org
