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Descendingwedgepattern

Descending Wedge & Bullish Divergence on March SoybeansFundamental Outlook: There’s no beating around the bush - the fundamental outlook for soybeans is bearish. Global ending stocks are now at all time highs per the last WASDE report, and export demand for U.S. soybeans has slowed considerably - currently down around 19% year-over-year. As South American harvest progresses, the outlook of the Brazilian soybean crop has also improved. Talking Technicals: Despite the bearish fundamental outlook - the descending wedge, bullish divergence on 14-day RSI, and declining volume profile presents a bullish setup. Managed money funds remain aggressively short - holding a net-short position greater than 150,000 contracts across futures and options on soybeans. An upside breakout could result in short-covering, ultimately propelling prices higher in the near-term. Descending wedge patterns typically see sharp, upside breakouts which would be akin to the price action observed in a short-covering rally. Check out CME Group real-time data plans available on TradingView here: www.tradingview.com Disclaimers: CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CBOT:ZSH2024Long
by Blue_Line_Futures
The Descending Channel Pattern 📈🐂Understanding the Descending Channel Pattern: The descending channel pattern is a price pattern that forms on a chart over an extended period. It consists of two parallel trendlines: an upper trendline that connects the lower highs and a lower trendline that connects the lower lows. These trendlines create a descending channel that slopes downward. Key Characteristics of the Descending Channel Pattern: Slope: The channel slopes downward, indicating a gradual decline in price over time. Support and Resistance: The lower trendline serves as support, and the upper trendline acts as resistance. Prices typically move within this channel. Duration: Descending channels can persist for weeks, months, or even longer, making them suitable for long-term trading strategies. Trading the Descending Channel Pattern: Here's how you can effectively trade the descending channel pattern in Bitcoin: Identify the Pattern: Begin by identifying a clear descending channel on the Bitcoin chart. Look for multiple touches on the upper and lower trendlines. Entry Point: Consider entering a long (buy) position when the price approaches the lower trendline, which acts as strong support. This is often an optimal entry point. Stop-loss: Place a stop-loss order below the lower trendline to manage risk. If the price breaks below this support, it could signal a trend reversal. Take Profits: Set your take-profit levels near the upper trendline, which acts as resistance. This is where you can consider selling your position to lock in gains. Confirmation: Look for additional confirmation factors, such as positive news developments, strong trading volume, or bullish indicators, to increase your confidence in the trade.
Long
by Yaroslav_Krasko
🚀Short-Medium Term $DOGE #Long Setup🚀#dogecoin #doge $doge #dogetothemoon A short term descending wedge has formed, with the lower timeframe RSI's reset, down and away from the local POC. The bottom of this wedge has hit the immediate 0.618 fib level, however that more "macro" 0.618 level has yet to be reached. Coincidentally, the measured move of an invalidation would, in fact, take price down to this "Golden Zone". Here, I've laid out 3 different possible outcomes. 1) Wedge plays out and a new high is made around $0.083 2) Wedge invalidates and upwards short-term trend is lost and price bounces at the "Golden Zone" 3) "Golden Zone" is surpassed and the high-volume node below it catches the knife and price bounces even further. #NFA #DYOR
Long
by DoozerInvest
FTMUSDT is testing the new breakout Currently, the price of FTMUSDT is attempting to break out of a descending channel after a clear retest of the 0.5 Fibonacci level. A descending channel is a technical pattern in which the price of an asset moves downwards between two parallel trend lines. The upper trend line acts as a resistance level, while the lower trend line acts as a support level. The descending channel is a bearish pattern that indicates that the price of the asset is in a downtrend. In the case of FTMUSDT, the descending channel is a long-term pattern that has been in place for several weeks. The upper trend line has acted as a strong resistance level, with the price repeatedly being rejected at this level. The lower trend line has acted as a support level, with the price bouncing off this level multiple times. After a clear retest of the 0.5 Fibonacci level, which is a key support level, the price of FTMUSDT is now attempting to break out of the descending channel. A breakout is a technical pattern in which the price of an asset moves above a resistance level, indicating that the bullish momentum has taken over the bearish momentum. If the price of FTMUSDT is able to break out of the descending channel and create a higher high, this would be a signal to apply Plancton's rules and consider taking a new long position. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
BTC/USD - 1D Chart Update with Triple Ichimoku CloudsQuick BTC/USD 1D chart update. A range of $12K to bottom $9K price target for BTC/USD is still in play. $9K will probably be hit with just a quick wick downwards from $12K. V Calculation (Negative) V= B-(C-B) = D C $25,160 - B $17,538 = $7,622 B $17,538 - (C-B) $7,622 = $9,916 Note that the above calculation is from the 1M Chart but i have added it onto this 1D chart. Note that BTC is still under our 3 unique Ichimoku Clouds. Here is a closer look at this 1d chart: If we look at our main Ichimoku Cloud we can see that: The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the mid-point of the short-term momentum is sideways at the moment on this 1d timeframe. The Ichimoku Cloud Base Line (Kijun Sen) is indicating that the mid-point of the mid-term momentum is sideways at the moment on this 1d timefram. The Ichimoku Cloud Lagging Span (Chikou Span) is indicating that momentum at the moment is sideways. Note that the Lagging Span (Chikou Span) is still under the past price. End of the Bear Market will be signified when the price crosses back above our Leading Span B (Senkou Span B) of our third largest Kumo (Cloud) and all 3 Kumo Leading Span A (Senkou Span A) create a Kumo Twist turning all 3 green. Note that the Leading Span B (Senkou Span B) is near the trope of the Descending Wedge Pattern. BTC is still in its downwards Pitchfork Pattern and is getting very close the its Pitchfork Median Line. Note that the Price found Resistance from its Upper Light Green Pitchfork Resistance Line. BTC is still in a Descending Wedge Pattern and a massive Ichimoku Y-Wave. Looking at the Bollinger Bands, we can see that BTC is still way below its Bollinger Bands Middle Band Basis 20 Period SMA. Note that both the Middle Band and the Lower Band are still pointing downwards and the Upper Band is starting to curve downwards. So we could see some consolidation before the next big move downwards. Looking At the Average Directional Index (ADX DI) we can see that the Trend Strength is strong with the ADX (Orange Line) at 39.04 and still above its 9 Period EMA (Black Line). Positive Momentum has increased slightly but is still low with the +DI (Green Line) at 9.47. Negative Momentum has dropped but is still dominant with the -DI (Red Line) at 29.95. For your viewing pleasure, here is a look at the amazing accuracy of all 3 of these unique Leading Span A (Senkou Span A) and Leading Span B (Senkou Span B) Clouds (Kumo) as support and resistance levels. This is all my opinion so i hope this has been helpful.
BITSTAMP:BTCUSDShort
by entertheroach
5
Copper’s many tangosIn the following charts below, we will highlight why copper looks interesting to us right now. Firstly, the Copper Outright prices (orange) vs the Calendar spread (black). Copper calendar spread tend to move in-line with its outright prices, until major turning points, when the calendar spread leads the outright price movement. In February 2022, we observed the copper calendar spread making a significant move lower, with the outright prices following suit in April. With the calendar spread making a significant move higher now, is this what they call déjà vu? Secondly, copper prices and the Chinese Yuan have a relatively high correlation as China is the world’s largest buyer of the metal, and by a significant margin. The recent weakness in the Yuan has led copper prices lower, but with the CNYUSD pair seemingly recovering now, could some strength in the Yuan lead the copper rally? Thirdly, the Gold/Copper ratio generally trades within a pretty defined range, with out-of-range moves happening during major market events. The ratio’s recent high can be attributed to copper weakness compared with gold. With signs of the ratio retracing off the upper range, have we marked the end of this move? And is it time for copper to gain some ground against gold? Looking at the price charts, we see copper trading near the significant long-term support level of 3.3. Previous attempts to break this support in July and September were both rejected. On a shorter timeframe, we see a descending wedge pattern forming, which is generally considered a reversal pattern. The same setup is also observed on the Micro Copper contract, which offers greater flexibility and precision in execution. Copper’s interesting relationships with major currencies and commodities, allow us to analyze it from multiple angles. With some relationships at major inflection points now, we lean bullish on copper. Entry at 3.44, stop at 3.1335. Target at 3.8320 and 4.0000 . If you’re keen on understanding more about Copper and its many relationships, do check out our previous research piece: www.cmegroup.com The charts above were generated using CME’s Real-Time data available on TradingView. Inspirante Trading Solutions is subscribed to both TradingView Premium and CME Real-time Market Data which allows us to identify trading set-ups in real-time and express our market opinions. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios.
Editors' picks
COMEX:HG1!Long
by inspirante
13
BTC/USD Descending Wedge with Quantitative TighteningBTC/USD 1M Chart: This is the 4th Descending Wedge Pattern that BTC has been in on the weekly and this 1 month chart. Note that BTC broken downwards on 2 of its Descending Wedge Patterns before continuing upwards. Things we have to take into consideration 1: We are already in a world wide recession! 2: The FED is about to start Quantitative Tightening which may not be priced into the markets! 3: Quantitative Tightening will possibly take BTC to $12,00 and below! 5. The crypto spot market is controlled by the Binance funding rate! 4. Before the media says the country says its in a recession…… It already is. 5. Be prepared. If the MACD Line (Blue Line) crosses below the 0.0 Base Line into the Negative Zone of the MACD Indicator then BTC will OFFICIALLY be in mid-longterm distribution on this 1 month timeframe. Since March 2020, quantitative easing took BTC from about $3,800 to about $68,000, some may say this was even from 2011! So now that we are entering Quantitative Tightening! What happens next? Interesting times and opportunities ahead. I hope this is helpful with your trading and Hold-ing.
BITSTAMP:BTCUSD
by entertheroach
2
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