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Descending Broadening Wedge

Rising/Falling Wedge Ascending Wedge in an uptrend-bearish 1. This pattern occurs when the slope of price candles’ highs and lows join at a point forming an inclinin wedge. 2. The slope of both lines is up with the lower line being steeper than the higher one. 3. Place an order to breakdown and out of the wedge. The drop out of the wedge can be very dramatic. Descending Wedge in a downtrend -bullish 1. This formation occurs when the slope of the price candle high and lows join at a point forming a declining wedge. 2. The slope of both lines is down with the upper line being steeper than the lower one. 3. To trade this pattem, place an order on a break up and out of the wedge.
BINANCE:ETCUSD.PEducation
by yaser_rahmati
1
BTC triple bottom and descending broadening wedge breakout? I'm looking at daily timeframe. As always after CPI release/today/ BTC price drops and then pumps doing long and short liquidation. I expect it to drop 18.6-19.1K making triple bottom and moving up. I think this time it will succeed to break horizontal rectangle resistance and hit 24-25K. Before upward continuation, it will test the broadening wedge trendline as it did previous time mentioned on the chart. then it will test 28-30K horizontal resistance and broken trendline. As I mentioned in my previous analysis a test of that trendline is inevitable. Check bellow the attached links and pay attention to my previous analysis.
Long
by ergal91
Standard chartered HTF. Bulls are back in town.Afternoon chaps and chapettes, we are looking at STAN forming a multi-year descending wedge, if we break out we should see some nice upside. RSI has worked its way out of resistance from circa 2007. Will go into more detail zoomed into the daily. UK banks have the lowest exposure to Russia comparable to the rest of Europe, Standard chartered has no direct meaningful exposure which is of course very positive. Most of Standard Chartered exposure comes from Asia which means interest rate hikes will be lesser impactful on income due to Asia generally cutting rates. Targeting 8-10% growth up from 5-7%. $750mln buy back program initiated at the last earnings report.
LSE:STANLong
by Chopstick_Charlie
TOTAL M.CAP UPDATE! ARE THERE ANY CHANCES OF PUMP IN ALTS?Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this TOTAL M.CAP update. Total M.cap is used in the reference of BTC and Alts. If Total M.cap pumps whole market starts pumping. Total M.cap is still defending its crucial support level (Green box). We might see some more downside moves in the market and after that, we can expect a good pump. As you see in the chart, Total M.cap forms a descending broadening wedge-like pattern in a 2-days time frame. So after hitting a lower trendline of the wedge we can expect some bounce across the board. IMO it's better to wait for a few more days and some confirmation to take entries in Alts. What do you think about this? Do you also think we can see some more downside movement in the market and pump after that or do you have any other view? Share your views in the comment section. If you like this idea then do support it with like and follow. Thank You!
CRYPTOCAP:TOTALShort
by CoreCrypto1
1
Lucid breakout?I'm liking the look of this inverse Head & Shoulders forming, as well as approaching the down trend resistance we've been in since November. RSI broke this downtrend a while ago and recently re-tested, so I'd expect to see similar happen on the chart. We're also in a descneding broadening wedge, recently bouncing off the bottom and looking to head towards resistance. Waiting for confirmation will be the best trade, breaking $20 then getting a successful re-test of the neckline and trendline. My take profit target will be $25 to secure profits of about 25%, although it may overshoot to previous resistance of up to nearly $30.
NASDAQ:LCIDLong
by SlumberJack92
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
Bitcoin - Short term bull ideaKeep it plain, simple and minimize the noise! We nailed our last few trades! :) Sorry for the phone upload, but here we see the bull flag we were watching has turned into a descending broadening wedge (bullish pattern). If we get our confirmations, my target is around 33-34k. Also not surprised if we just nuke straight through this, as the market is clearly bearish . At the moment - the market is sideways, choppy and RISKY. I have various different set-ups I'm watching and always waiting for confirmations of each one BEFORE entering a trade. Comment your ideas down below :)
Long
by tradermoth
OGNUSDT is creating a descending channelThe price is creating a descending channel on the 4 timeframes and now the market is getting the liquidity from the daily demand. At 0.5 $ the price has a resistance. How we can approach it? If the price is going to have a breakout from the descending channel and retest the 4h resistance as new support, 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 🦐
Long
by InkyGrip
4
AUDUSD trade idea on 1H timeframeprice played inside descending broadening wedge and also respected the support level at 0.70530, for a short term trade we can take the upside movement inside the DBW pattern. please wait until rejection occurs clearly on the lower timeframe for a buy entry. Good luck traders! **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
2
Tesla to $1700? Hey Traders, As you can see on the Daily Line Chart of Tesla (TSLA). The price action has formed a Descending Broadening Megaphone/ Wedge which is a Bullish Pattern. Now in fundamental terms, I think this is impossible at the moment because Tesla already has such a big market cap but in technical terms, this looks like it could happen. Tesla is a company mainly based on fundamental terms, so that's why various short sellers pick it unaware it defies bearish technical analysis. However, on the Bearish side, the MACD on the weekly looks like it will revert to red bearish histograms, foreshadowing maybe a correction. But, I highly doubt it will hit $1700 in 3 years. Safe Trading, -Pulkanator
NASDAQ:TSLALong
by Pulkanatir
9