Get started

Downwardwedge

Gold can make downward impulse from resistance line of wedgeHello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price a few moments ago rebounded from the support line and started to grow near this line. Soon, the price reached the 2290 support level, which coincided with buyer zone, and soon broke this level, after which made retest and continued to grow. In a short time later Gold reached a 2380 resistance level, which coincided with the seller zone and even rose higher than this level, but soon declined back, making a fake breakout. But soon, the price backed up to the seller zone, where it some time traded inside, after which turned around and started to decline in the downward wedge. In a wedge, Gold broke the 2380 level at once and soon support line, after which declined to support line of this pattern. Then XAU bounced up from the support line and tried to rise, but failed and declined back, after which rebounded up again. At the moment, Gold trades near the resistance line of the wedge, and I think XAU can rebound down from the resistance line and decline to the support line of the wedge, breaking the support level. After this move, Gold will break the support line and continue to fall, therefore I set my target at 2250 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
Binance Coin can rebound up from support line to 561 pointsHello traders, I want share with you my opinion about Binance Coin. By observing the chart, we can see that the price some time ago started to decline inside the downward channel, where it reached the resistance line at once, and then rebounded down to the support line of the downward channel. Later, the price bounced up from this line and rose to the seller zone, which coincided with the resistance level, but soon turned around and fell lower this level, breaking it. After this, BNB reached the 600 level and then made impulse down to 539 points, thereby exiting from the downward channel, breaking the support level, which coincided with the buyer zone and entered to upward wedge. In this pattern, the price soon broke the 561 level again and in a short time later rose to the resistance line of the wedge, which coincided with the resistance level, but at once rebounded and fell to the support line. A few moments ago, the price bounced from this line and now I think that Binance Coin can correct to the support line and then rebound up to the resistance line of the wedge, thereby breaking the resistance level. So, for this case, I set my target at 561 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
Gold can exit from downward wedge and then continue to riseHello traders, I want share with you my opinion about Gold. If we look at the chart, we can see how the price some time ago entered to upward wedge, where firstly it rebounded from the support line and made a strong upward impulse to the resistance level, which coincided with the seller zone, thereby breaking the 2150 support level. After this movement, Gold turned around and started to decline to the support area, where later it bounced and started to rise. A short time later price exited from the upward wedge and rose to the 2195 resistance level, and soon Gold broke this level and even rose higher than the seller zone. But later price turned around and started to decline in a downward wedge, in which the price broke the resistance level one more time and in a short time declined to support line of the wedge. Also recently price rebounded from this line and started to rise to the resistance line. So, I think Gold can reach the resistance line, after which it rebounds down to the support line and then makes an upward impulse, thereby exiting from the downward wedge. For this reason, I set my target at the 2180 level. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
1
LTCBTC - close to the end of an descending wedge- Litecoin is at the all time low of the last two years. - Has been in a downward wedge for the last year. - under all moving averages on the daily. - Make no mistake It is weak. - Currently at a double bottom at 0.004041 and A wave - Could go a little lower to hit the bottom of the wedge and make a final C wave. - Expecting a bounce off the bottom of the wedge. - It should hopefully start a new 5 wave structure up. - It should at the very least test the top of the wedge for a 15% rise. - Then we have to wait for confirmation of a break of this wedge structure. - Note also falling volume and falling price is also bullish. - A bullish divergence on rsi formed - higher lows on rsi and lower lows on price. As always trade at your own risk and have proper risk management.
Long
by System791
Litecoin - downward wedgeJust an idea, however with Bitcoin Dominance so strong and most of the Alts dying a slow death. This is probably a little optimistic in the current climate, however these are just observations. Last downward wedge, price nearly made it back to the last high at 0.0183 we had a small bullish divergence just before the turn. Looks very similar to the current wedge. If BTC continues as it is, and Bitcoin Dominance remains strong, then this will probably go lower. Careful with your trades.
Long
by System791
BTCUSD 3 DRIVES PATTERN FIBS MATCH UP TAKE A LOOKBTC chart within the downward wedge has been making a bullish 3 drives pattern, but I will say it also made one with the last hump I will put link below. So it seems to be moving within this Wedge pattern since January the fibs line up about 68% extension on the tops and 1.2 on the bottoms its textbook now we just need it to hit the bottom of the wedge at $5500 and fire up to 10K usd so lets see what happens happy trading everyone. This is not financial advice it my opinion. Do your own research and analysis and make your own decisions.
by bdfulker2
BTCUSD Confluence of Support Bounce Probable??????? We have a huge confluence of support right here. We are testing the trendline from the December High. It also is right were the current upward trend from June is along with price resistance/support lines. If you look at the daily chart there is currently at a huge confluence of support and it is likely that we will see an bounce or a reversal of this downward move. When we broke out of the resistence from december we never tested it as support therefore the price needed to come down and test that same trendline that was resistance for so long. So there is a high probability of a bounce. I hope we reverse on this bounce and continue up. I am not sure which way we will go, but if we go down below 6k I believe we will follow this trendline from the December high down. This trendline is the thin orange line that is extending from the green pennant trendline from december high. I am not saying this will happen but if it does I am putting a target between 2.9K and 4K. But until we break below are current trendline I am expecting a bounce in the short-term which could be wave 2 or 4 of an upward impulse meaning the move can't be over. Others think this is a correction from the downward, but with this impulse reaching 8400 it should have invalidated most of those bearish counts. So whats next move????? There is one other count where we just move sideway with lower highs
BITFINEX:BTCUSD
by bdfulker2
AEBTC is the 4th time the charm with ACCUMULATION PHASE AEBTC has finally broken out of the downward wedge. But it currently is in its 4th accumulation phase at lower prices. Is this the price that holds and catupults it back to its possible value of about $5 - $8 or will it fall again for a 5 accumulation phase. As i said it broke out of the downard wedge and had a nice spike from its spring and now the price has come back down and it is testing the top of the wedge as support. It should push of and up higher. Lets see if this happens as I am hopeful but extremely caustious. There is extreme upside potential, but all the alt seem to get the price pushed up and then the support gets pulled out from under it. I am hopeing this is a short time occurence and that the entire market will soon be back in an upward trend, but that might takes a few more months. So use risk management and remember this is not trading advice it is my personal opinion and for educational purposes only
A
by bdfulker2
Will The BTC Bulls Win or will the Resistance overcome???????BTC has been showing very bullish price action and momentum as of late. The bears have been pushed up against the ropes and now must fight there way out. Personally I am hoping that the bulls win and we break out of this downward wedge. We have wicked out on the daily. But need a strong push and at least one close above the trendline on the daily. This point we found ourselves poking out of is significant my trendline also will invalidate whatever bearish counts are still out there. But if you look we are currently on touch 5 of the resistence trend of the downward wedge. But there were about 4 touches of this trendline as support as well. So "LONG" story "SHORT" (pun intended) we need to close above about $8400 to invalidate the bearish counts. To invalidate the upward movement as a wave 4 correction from the may downward thrust. Becuase wave 4 can't overlap wave 1. which some say ends down around $8400 which is also around this downward trendline that has been significant since before the ATH. So will we thrust through now, or maybe after a correction, or will the bears fight there way out of the corner and off the ropes "resistence line" to knock down the bulls to lower. I hope the bulls win but we will have to see as this is may be the bull run of our life time as some would say!!! What are your thoughts?
BITFINEX:BTCUSD
by bdfulker2
1
Will LITECOIN go down to under $100? - Bearish w/ Bullish WavesHow are you Crypto Maniacs! Litecoin indicators are surprisingly neutral at this point. That is of course not something an investor who is in Litecoin wants to hear right now, but on the other side, it is better than being bearish. MACD is leaning more towards bearish side in short term, however in medium term, which entails few month, it is bullish as it is in accumulation stage. RSI is neutral with bullish signals in terms of being at 40% most of the time which indicates a good buy for those of you thinking of getting in for 2-5 Month. Volumes are negative which is what we should expect in market like this one guys. I see Litecoin dropping to around $100 levels before making a recovery. Until we break that downward wedge, we will not be going anywhere. You can buy in at time of a break, however please have safe sell orders in place until market moves to stabilize with Bitcoin. Overall we like Litecoin. Technology is very nice and as for investors it is a very liked coin due to it's long term reputation. Invest only what you can afford to lose or you're going right back to poverty on drop. We are not your financial advisors.
COINBASE:LTCUSDShort
by CryptoManiac101