Descending Broadening Wedge
CURLF Descending Broadening Wedge| Volume Influx| Technical HighEvening Traders,
Today’s Analysis – Curaleaf Holdings, Inc. – as swing trade into technical target as US voting season approaches.
- Macro broadening wedge
- Dynamic Resistance broken
- 200 MA support
- RSI bearish divergence
- Volume influx
- Back test long
CURLF has broken bullish from its macro descending wedge, initiating the pattern with a clear technical target. The break has put in a valid higher high, first sign of a probable trend change.
The Dynamic resistance was broken with conviction; a back test will be in confluence with the 21 MA and the .618 Fibonacci.
This will allow for a risk defined long entry
The 200 MA is holding as support, price will remain bullish as long as it trades above.
The RSI has a valid bearish divergence; this indicates a correction being probable to the .618, a clear trade location with technical confluences.
There is a clear volume influx coinciding with the break of the pattern, follow through is required for continuation.
Overall, in my opinion, CURLF has validated its macro pattern; a back test is a valid long entry with defined risk. On a fundamentally scale, this sector will be approaching voting, speculators are likely to be positon themselves for macro swings.
What are your thoughts?
“Win, loss whatever emerges in the short-term, place and manage your next trades untouched, unattached... always keeping your eyes on the long-term picture.” ― Yvan Byeajee
Keanu NEO Looks good setting up for a nice buy above the descending broadening wedge
3rd test above the wedge
NZDJPY Descending Broadening Wedge| Local Support| RSI Channel Evening Traders,
Today’s Analysis – NZDJPY – trading in a probable broadening wedge, confirmation will be on a break of resistance.
The immediate price target however is the local support for an S/R flip confirmation.
Points to consider,
- Local trend bearish
- Down sloping resistance objective
- Local Support S/R Flip
- RSI channel
- Volume Below Average
NZDJPY’s immediate trend is bearish with consecutive lower highs under major structural resistance.
Price holding the .618 Fibonacci increases the probability of establishing a lower high compared to the Dynamic resistance.
An impulse move back to local support for an S/R flip confirmation is probable.
The RSI is in a clear channel, breaking the support of the channel will coincide with a move down.
Volume is currently below average, an influx is highly probable when price action tests local support as this is a clear trade location.
Overall, in my opinion, NZDJPY is likely to test local support for an S/R flip retest. Holding this will increase the probability of taking out the Dynamic resistance of the larger macro falling broadening wedge.
What are your thoughts?
Thank you for following my work!
And remember,
“Once you find the system that works for your style/personality and confidence is gained, wash, rinse, repeat over and over again.” – Sunrisetrader
Weekly levels and trendlines. Descending broad wedge breakout?Just thoughts from a noob.
Descending broad wedge break out and retest on the weekly.
Weekly Descending Broadening wedge I see a broadening wedge on the log weekly time frame with this weeks candle holding the upper trend line as support. If we can continue to hold that line as support there could be a chance from upside action before the month ends.
XBTUSD Macro short setup and analysisChart pretty much says it all, we decreased volume near HTF (High time frame) resistance meaning buyer exhaustion in this case. We formed both
a MTF (medium time frame) ascending triangle and a class c (weak but still there) regular bearish divergence. If anything you should at least hedge your crypto exposure (full: 100%) but in my case I went net short with a stop right above 10,5. I'm doing weighted exits starting from high 8's all the way down to high 7's.
Happy trading!
cept0r
BEAM has a reason to popBEAM has a hard fork around 28.6.2020 so I have set an alarm you can see indicated in purple in case of any bullish action. A break out of this descending broadening pattern and horizontal resistance would be a reason for me to raise an order.
But I remain neutral until I see signs of a pump.
BTC/USD - descending broadening wedge could push us above 10kBTC /USD is in a descending broadening wedge on the weekly and on the last count of the move.
This formation breaks out to the upside in about 80% of cases.
Wait for a weekly close above the formation if you want to play it safe or you might end up buying the top in case this setup is one of the 20% that fail.
If you do enter now remember to keep a proper stop loss in place in case it doesn't work out.
Plain and simple chart pattern so I left out unnecessary indicators.
Good luck and let me know what you think!
Why this time things might be different for BTCHello,
Looking at the bigger picture, Bitcoin is very close o confirming one huge achievement: exiting the enormous descending triangle it had entered 2017. I think if the breakout gets confirmed on the weekly timeframe, the other two patterns I have on the chart might have a chance to play out:
1) V-shape bottom, with a target close to 16k
2) Descending broadening wedge pattern, with a target close to 18.6k. I observe that no one is talking about this pattern. I just spotted it. What's interesting about this scenario is that the possibility to touch 3,8k price was there all the time and COVID-19 was only the spark(the story that the big players needed). Jesus, only if I could've spotted this in February! :) This pattern also implies that if BTC doesn't continue its rise, and will reenter the broadening wedge, the price can hit 2k, near the lower part of the broadening wedge. An unlikely scenario, if you ask me.
Can we fall from 9.9k(where we are at this moment)? Absolutely! But I think we are getting more and more close to entering a bull market. Will it be this year? Will it the next year? I don't know. :)
Good luck with your trades!
Sisif
[XAUUSD] Potential UpI see at big timeframe have a pattern falling wedge and there is a little timeframe have a descending broadening wedge. Disclaimer on
Gold 15 Minutes Buying OpportunityXAUUSD 15 Minutes Descending Wedge Formation ----> Bullish Breakout
Hmm. Are we about to pop? Howdy.
SO..
Given the way BTC has been acting, it's hard for me to accept that this is a possibility.
- We have a descending broadening wedge, a BULLISH REVERSAL PATTERN that, if confirmed -will give us a TARGET OF $10.4K
- We also appear to be in the business end of the huge CUP AND HANDLE pattern
- ALSO, we are at the apex of the RIGHT SHOULDER in what many traders are calling an extremely large INVERSE HEAD AND SHOULDERS.
This is looking EXTREMELY BULLISH to me, but it's hard to believe considering the few days we've had.
BUT some things to consider:
BULLISH DIVERGENCE ON THE 8HR RSI
CME GAPS ABOVE, FIRST ONE AT $9K..
What do you all think?
Are we about to MOVE UP or head back down?
UVXY PROSHARES , Inverse Trade Fun!The ETF fund UVXY has exited out of a descending wedge and seems to be playing out. Regardless of the fact that it does reverse splits, this does seem to be a good play if not just in the short term. I have Fibonacci targets at $42, $63, and $79
XRP/USD Descending WedgeHello traders,
XRP/USD is breaking a descending wedge on 4h intraday charts, the Bitcoin is going up as well, giving space to altcoins grow in USD pairs, we belive XRP has a chance to test the Key Resistance level (Key Level is one point the price worked as support and resistance many times over those last moments.
Please, push like button and follow us to receive more trading ideas like this.
NZDUSD, a buy signal is starting to form!we are seeing price has reached the daily key support level (last roadmap link attached below!) and starting to form a descending broadening wedge pattern, please wait for trendline resistance breakout before placing any buy order. be patient!
Plan : trendline breakout --> wait for price to bounce off from daily key support level --> wait for the rejection candle pattern to form e.g. bullish engulfing , pinbar etc --> BUY
**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 like i do, please write it in comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX
UBER - Descending broadening wedge, look for breakoutUber looking for a potential short term rebound through the pivot point around $33.00
Look for opportunity to take profit at 35 where it initially lowered months back.
15% profit swing trade set-up.
EOS Descending Broadening Wedge Formation |Bull Flag|Low Volume Hello Traders!
Today’s chart update will be on EOSUSD which has a bull flag forming above the 200 MA average after breaking bullish from a descending broadening wedge formation.
Points to consider,
- Trend broke bullish
- 200 MA serving as support
- Local resistance from Fibonacci Extensions
- RSI respecting support
- Stochastics projected downwards
- Volume clearly declining
EOSUSD trend has broken bullish with a confirmation of an influx in volume from its descending broadening wedge. The technical target is associated with the first price touch in the formations upper resistance line.
The 200 MA is currently serving as support; EOS is consolidating and forming a bull flag which is a continuation pattern in this instance.
Local resistance is provided by the Fibonacci Extensions, EOS technical target aligns with the 1.277 Fibonacci Extension – a level prone to profit taking.
The RSI has bounced of support, currently holding in the upper regions as price consolidates. Stochastics is currently projected downwards, can stay trading in current region for an extended period of time as price develops.
Volume in clearly declining, an influx of volume will come to fruition in either direction, EOS needs bull volume for follow through from current probable bull flag formation.
Overall, in my opinion, a break will come to fruition, key levels have been broken which has changed the trend of EOS. Consolidation above the 200 MA is very bullish; especially with a bull flag forming, which will be confirmed with volume.
What are your thoughts?
Please leave a like and comment,
And remember,
“There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.”
― Yvan Byeajee,
Qurate Retail LongMixed signals on this ,
Primary wedge ( white ) got broken but failed to rally due to lack of buyers, Head and shoulders pattern created from a secondary impulse up after break out , sending us to lower levels, secondary descending channel has been created where price consolidates in at the moment,
RSI on Daily shows class A bullish divergence, I was originally long on this and will be for as long as RSI confirms it.
Rolls Royce PLC longDesceding wedge with Bullish divergence on the MACD as shown on the Daily,
profits will be taken at the 0.5 Fib retrace level from previous all time high to current lows
