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Falling Wedge

📉🌊 Potential Falling Wedge Pattern Formation on $WAVES ChartBINANCE:WAVESUSDT $FallingWedge $PatternFormation $TradingView Greetings, fellow traders! 👋 I'd like to share an intriguing chart pattern I've identified on the BINANCE:WAVESUSDT chart. It appears that a potential falling wedge pattern is forming, suggesting a possible bullish reversal in the near future. Let's delve into the details! 1️⃣ Falling Wedge Formation: The BINANCE:WAVESUSDT chart displays a sequence of lower highs and lower lows, converging within two trend lines. This pattern closely resembles a falling wedge, characterized by a contracting range. Falling wedges often signify a bullish reversal. 2️⃣ Volume Analysis: Volume analysis is crucial for pattern confirmation. Ideally, we would expect to see diminishing volume as the wedge develops, followed by a surge in volume upon breakout. This could indicate increased buying interest that may potentially propel the price higher. 3️⃣ Resistance and Support Levels: It is essential to monitor the upper resistance trend line and lower support trend line. A breakout above the resistance line, accompanied by notable volume, might suggest a bullish breakout. Conversely, a breakdown below the support line could invalidate the pattern. 4️⃣ Price Target and Stop Loss: Should the falling wedge pattern confirm, a common technique to estimate the potential target is to measure the widest part of the wedge and project it from the breakout point. Regarding stop loss placement, it is often advisable to position it below the support line to mitigate potential losses. Nevertheless, it is important to remember that technical patterns should be used in conjunction with other forms of analysis, such as fundamental research and market sentiment, to make well-informed trading decisions. To summarize, the BINANCE:WAVESUSDT chart is currently exhibiting a potential falling wedge pattern, indicating a possible bullish reversal on the horizon. Nonetheless, confirmation through a breakout above the upper resistance trend line and a surge in volume is essential. Traders are advised to exercise caution and implement appropriate risk management strategies. What are your thoughts on this pattern? Share your insights below! Remember to conduct your own analysis and consult with financial professionals before making any investment decisions. #WAVES #FallingWedge #PatternFormation #BullishReversal #TradingAnalysis #TechnicalAnalysis #Cryptocurrency #TradingView
CRYPTO:WAVESUSDLong
by STP_MrNodeItAll
SMG Falling Wedge BreakoutThe largest player in cannabis without having the risk/exposure to the schedule 1 plants and cutthroat competition in the sector, SMG, has broken out of a falling wedge pattern with lower PPO and TDI indicators that are close to turning bullish. All eyes/ears are on the Senate as a vote on Safe Banking for the cannabis sector is expected this month. businessofcannabis.com If approved this would clear a major hurdle for the cannabis industry for both long-term growth and the path toward federal legalization. Currently long with an entry price of of $64.34, a stop-loss at $60 and a take profit at $80. Stop-loss and take profit levels will remain adaptive to price movement.
NYSE:SMGLong
by PrepForProfit
💱EURCHF - A triangle is formed. We wait for a bounceEURCHF continues to decline and forms a pattern. a break in the support of which will form the continuation of the trend. TA on a high timeframe: 1) A flat is forming. But, the price does not reach the resistance and continues to fall to the support. 2) The retest at 0.97505 might form a breakthrough, which will send the price to 0.97200. TA on the low timeframe: 1) Within the triangle, the price drops to 0.97375. A retest of the figure support and subsequent pullback is possible. At the moment the price continues to form a pattern 2) Within the figure we may buy from support and sell from resistance. 3) I expect strengthening of the price from the support area till the retest, then from the upper border we will consider short set-ups Key support📉: 0.97357 Key resistance📈: 0.97660
Long
by Gold-Tech
6
GOLD → The market is buyback the fall, but for how long? OANDA:XAUUSD makes a retest of local support at 1902, but amid a weaker dollar, the market buys out the drop. The price returns to the range. Global and local trend coincide and have a common downward direction. The price rebounds from 1902 on the background of the dollar weakening from the news on Thursday. It is too early to speak about the global change, because the Fed is still preparing to keep the rates at the same level or even to raise the rates, in which case the dollar will continue its strengthening because of the high inflation. The price comes back to the range and most likely it might strengthen to 1920. But in the medium term I see a continuation of the fall towards 1902 or 1893. Resistance levels: 1920, 1933 Support levels: 1912, 1902, 1893 The market is bearish and most likely, from one of the key resistance levels, the continuation of falling is expected on the background of negative fundamentals for gold. Regards R.Linda!
OANDA:XAUUSDShort
by RLinda
23
EURUSD → Fundamental and TA diverge. What's next? FX:EURUSD has been declining all week. The correction continues to the lower boundary of the uptrend, and after a false breakdown of support the market responds with a bullish reaction. The daily timeframe is turning a triple top, but everything is ambiguous. Price is in a global fleet. Within a local uptrend, a false break of channel support increases liquidity and the market builds bullish volumes, against the news this reaction may be temporary. If the wedge resistance is broken, a consolidation above the line can be formed, followed by an impulse towards the key resistance. The Fed is not going to give up and is increasingly saying that rates will either be kept or increased in the medium term, in which case the currency pair may show us a bearish mood. Support levels: 1.08485 Resistance levels: the upper boundary of the wedge, 1.0945, 1.1000 I expect an attempt to break through the resistance of the wedge. If it succeeds, the price may head towards 1.0945 within the channel. But if the consolidation in the wedge continues, there will be a chance to break through the trend support. Regards R. Linda!
by RLinda
10
GOLD → FOMC meeting forms a bearish candleOANDA:XAUUSD is testing 1933 and after the third retest it forms a false-break. A Triple Top pattern (local value) appears on the chart. The price decreases to the support and forms a local consolidation. The retest of the 1912 area indicates to us that the market is preparing for a decline. A pullback to 1920 might be the key maneuver. If the price rebounds to 1912 and continues consolidating near the support, it is a good hint that the market is about to break the support and test the new low. But again, as long as the price is in the 1912-1938 range, it might continue rising above the 1920 level. Consolidation could last for quite a long time. Since at yesterday's FOMC meeting the majority supported holding the previous level or a rate hike, it is a priority to consider selling. A bearish candlestick is forming on the daily chart after the retest of the resistance area. If the sellers are ready with volumes, the price can quickly test the global low in the medium term. Resistance levels: 1920, 1930, 1933 Support levels: 1914, 1912, 1909. The price is squeezed in the 1920-1912 consolidation, the next retest of support may result in a breakout. Regards to R.Linda!
OANDA:XAUUSDShort
by RLinda
22
🥇GOLD - False breakdown of global resistance Gold after breaking the channel support falls down and almost tests the key support of 1910, but during a quiet session and lack of liquidity the price goes into consolidation. TA on the high timeframe: 1) A false breakout of downtrend channel resistance is forming. We see a bearish reaction. 2) The nearest liquidity is below 1910 and the price can test the area TA on the low timeframe: 1) We see consolidation between 0.382 and 0.236 Fibo. A retest of the resistance could form a false-break and in that case the price will head towards 1910 2) Relative to the global price channel, gold has the potential to go down to 1840, but it needs to get past 1910 and 1895. 3) The market is bearish and most likely continues to prepare for further declines. Key resistance📈: 1912 Key support📉: 1910
OANDA:XAUUSDShort
by Gold-Tech
11
SOLUSDT → A breakout resistance could give momentum to 25.00BINANCE:SOLUSDT forms the bottom at 9.39. After the formation of the global low, the price forms a prolonged consolidation near resistance and now the phase of realization of the accumulated potential begins. What to expect from the price in the medium term? Moving averages are showing a strong consolidation. A descending wedge is forming. On the chart I marked the key level of 20.00, which plays a rather important role after the price breaks out of the range. Buyers will have to try hard to hold this area. If the price consolidates above the 20.00 level, the potential for a medium-term long trade to 25.82 will open. Against the background of bitcoin strengthening SOL continued to consolidate and shows weakness in the market, but while bitcoin stands still we see a bullish reaction from SOL. Support levels: earlier broken channel boundary, 18.22, 16.00 Resistance levels: 20.00, 22.4 I expect a bullish price reaction to break resistance of the multi-month price channel. A breakout of the level of 20.00 may form a strong momentum towards 25.82 Regards R.Linda!
Long
by RLinda
11
🥇GOLD - Inside the range price breaks support Gold is testing the resistance area of the global trend and breaking the local support. A rebound from 0.382 could reach the retest area and then the downside phase could activate. TA on high timeframe: 1) Price is testing the liquidity area of the global downtrend channel 2) The liquidity zone 1939-1935 is not reached, most likely a market maker trap may follow TA on the low timeframe: 1) A breakout of uptrend channel support forms 2) The price tests 0.382 Fibo and starts to form a pullback. There is a chance of the retest of the channel support or the level of 1932. 3) The price may also strengthen to 0.618 Fibo before declining further 4) The global TA says about the priority of further falling. 5) I think the local correction will end soon 6) The price may stay in the 1932-1910 range all week Key resistance📈: 1932, 1939. Key support📉: 1921, 1910
OANDA:XAUUSDShort
by Gold-Tech
14
💱EURUSD - A resistance retest is forming. Breakout or rebound? EURUSD is retesting the wedge resistance and the level of 1.09125. But on the D1 the price is trading under the strong resistance, forming a false-break TA on the high timeframe: 1) False breakdown of 1.09125 level. Consolidation and decline below 1.08800 will form further momentum 2) The price is in the "wedge" pattern, breaking through one of the lines will open a new potential after the consolidation. TA on the low timeframe: 1) Price makes a retest of 1.09125. The local trend is ascending, hence it is likely that the price can break the resistance 2) The price will continue growing in case of breaking through the wedge resistance and the level of 1.09125. 3) On the rebound from the wedge resistance, the price will head towards 1.08440 and continue its consolidation in the figure Key resistance📈: 1.09125 Key support📉: 1.08800, 1.08400
Short
by Gold-Tech
9
GOLD → Is further decline possible? What is going on?OANDA:XAUUSD is in a correction phase. The global trend on the chart is bearish. There are several preconditions for a possible further fall. What is going on and what to expect from the price? We see a breakout of the global price channel and the formation of an upward correction. I drew a local support line to make the situation clear. Price breaks support after a strong resistance area appears on the chart. The bears increase volumes and start to pressure the market. On the daily timeframe we see an attempt to break the uptrend. The price forms a correction to the resistance area. The correction may confirm the market's intentions, after which the price will start to fall, but for that we need confirmations. That might be a breakout of supports 1920 and 1912, in which case the price will head towards 1893, which will be a retest of support - a signal for a further breakout. Support levels: 1920, 1912 Resistance levels: 1926, previously broken support, 1933 I expect a retest of 1920 with a possible breakout as the bears increase their activity. A retest of 1912 will form a breakout attempt, which could also be successful. I wait for the decrease. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
29
EURGBP → The market is getting ready to continue falling FX:EURGBP is forming a counter-trend correction to increase liquidity and accumulate potential for a possible further decline. The trend is bearish and now there are signals that could continue the trend Note the local uptrend channel. This is most likely a correction on the background of a bearish trend. Price can't go down all the time, so the market needs to make these maneuvers. The price broke through the support of the correction, we expect the price consolidation. At the moment, the support of the ascending channel and the level of 0.85412 plays a key role. Consolidation below these areas will form entry points for possible sales. The moving averages have moved towards resistance. Impulse is forming. Support levels: 0.85412 Resistance levels: the earlier broken through channel boundary, MA50, 0.86000, MA200 I expect continuation of falling after the price consolidation under the specified levels. Most likely, the trend will continue. Regards, R.Linda!
Short
by RLinda
15
Potential Falling Wedge Pattern Formation on $SUSHI/USDT Chart#SUSHI #DEFI #FallingWedge #PatternFormation #TradingView Hello traders! 👋 I wanted to share an interesting chart observation I made on the $SUSHI/ AMEX:DEFI pair. It appears that a potential falling wedge pattern is forming, which could indicate a bullish reversal in the near future. Let's dive into the details! 1️⃣ Falling Wedge Formation: The price action on the $SUSHI/ AMEX:DEFI chart shows a series of lower highs and lower lows, converging between two trend lines. This pattern is commonly known as a falling wedge, characterized by a contracting range. Falling wedges are often considered bullish reversal patterns. 2️⃣ Volume Analysis: Volume plays a crucial role in confirming patterns. Ideally, we would like to see declining volume as the wedge develops, followed by an increase in volume upon breakout. This could indicate a strong buying interest that could potentially propel the price higher. 3️⃣ Resistance and Support Levels: The upper resistance trend line and lower support trend line are important areas to monitor. A break above the resistance line, accompanied by a surge in volume, may suggest a bullish breakout. Conversely, a breakdown below the support line could invalidate the pattern. 4️⃣ Price Target and Stop Loss: If the falling wedge pattern confirms, a common technique to estimate the potential target is to measure the distance between the widest part of the wedge and add it to the breakout point. As for stop loss placement, it is often set below the support line to limit potential losses. Keep in mind that technical patterns are not foolproof and should be combined with other forms of analysis, such as fundamental research and market sentiment, before making trading decisions. To summarize, the $SUSHI/ AMEX:DEFI pair is exhibiting a potential falling wedge pattern, which suggests a bullish reversal might be on the horizon. However, confirmation is required through a breakout above the upper resistance trend line and a surge in volume. Traders should exercise caution and consider utilizing proper risk management strategies. What are your thoughts on this pattern? Share your insights below! Remember to do your own analysis and consult with financial professionals before making any investment decisions. #SUSHI #DEFI #FallingWedge #PatternFormation #BullishReversal #TradingAnalysis #TechnicalAnalysis #Cryptocurrency #TradingView
Long
by STP_MrNodeItAll
🥇GOLD - A counter-trend correction may end up GOLD is forming a counter-trend correction within the ascending price channel. The momentum appears after breaking through the wedge resistance. But at the same time the price is under strong resistance 1938 TA on a high timeframe: 1) Price forms a global downward price channel. 2) The market is recovering and a retest of the trend resistance area will happen soon 3) Also ahead is the level of 1938, which plays a key role in the mid-term. TA on the low timeframe: 1) The local price channel is forming on the background of a global bearish trend. 2) The price is headed towards the resistance of 1932, most likely, it will succeed to break through this area, as the retest is formed 3) We are interested in the channel resistance at 0.618 Fibo, which may push the price down to the support 4) The correction is formed on the background of a global downtrend. Chances are high that the fall will continue Key support📉: 1921 Key resistance📈: 1932, 1938.
OANDA:XAUUSDShort
by Gold-Tech
21
💱USDCHF - Triangle. Why Should We Expect a Decline USDCHF after the retest of the resistance of the global range forms a symmetrical triangle. A breakout of one of the boundaries will form a distribution TA on the high timeframe: 1) Price in 0.91200 - 0.88600 range 2) Resistance was tested earlier. Within the range, price moves from one boundary to the other 3) In our case liquidity from 0.89000 to 0.8600 has not been tested. TA on a low timeframe: 1) Since the market is most likely aiming to continue its move down to the liquidity area, the priority is to expect a support breakout 2) Price may consolidate in a triangle for a few more days and then test the limits of the pattern for a breakout 3) I expect a breakout of support and a decline to 0.88600. But if the price breaks 0.9000, it will go up to 0.91190 Key support📉: 0.89430 Key resistance📈: 0.9000
Short
by Gold-Tech
8
GOLD → The limit level of 1920 pushes the price up OANDA:XAUUSD strengthens to 1931 and reaches its local target. The resulting pullback forms a strong limit area formed by buyers 1920. What could this lead to? Locally, I expect the price to rise to the local targets and liquidity zones, as the price cannot fall all the time. Such zones are: 1933, 1935, 1939 The daily technical analysis points us to a break of the uptrend and the formation of a correction. The trend correction can confirm the break and after the retest of one of the key resistance levels, which is 1935-1939, the market can activate the volume bears and the price will continue the implementation of the trend breakout. At the moment we are interested in the resistance area of the range. The price may reach it in the near future and then we will follow the price reaction to this area. Here is a likely scenario: Support levels: 1920, 1912 Resistance levels: 1933, 1935, 1939 I am expecting growth this week, but in the long term I will consider a fall, as TA on D1 is pointing this way Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
31
C98USDT → Realization of accumulated potential BINANCE:C98USDT enters the phase of realization of the accumulated potential. A prolonged trend may change its direction, but in order to do that the bulls will have to take the priority in their hands. Global and local wedge are marked on the chart. The resistance boundaries of the figures coincide and the price breaks the area, consolidation is formed in the green zone and C98 starts to form a bullish momentum. For the buyers, the resistance at 0.1751 is important at the moment. If the price breaks through and fixes above this area, the cryptocurrency pair can form a bullish momentum. Resistance at 0.3258 will be the priority target in this case. Lately bitcoin is strengthening and forming consolidation of 30000-31000. A breakout of resistance will also give momentum to altcoins. Support levels: MA-50, 0.1540, 1.1209 Resistance levels: 0.1751 I expect the retest to 0.1751, which might end up with a breakout of resistance and in this case the price will continue growing. I am interested in the target of 0.3258 and 0.5750. Regards R.Linda!
Long
by RLinda
20
Bitcoin - Huge crash soon! Retest is required (wedge) The price of Bitcoin recently pumped from the falling wedge pattern with a very strong impulse wave. But the problem is that because of that, we have an unfilled FV GAP on a previous breakout point, and the price tends to go back and retest it. Usually, when patterns break, the price tends to go back and retest them! In this case, we can completely retest the wedge at the trendline (which will be a deep retracement) or retest the breakout point of the wedge and fill the FB GAP. In the confluence, we have the 0.618 Fibonacci retracement of the impulse wave, giving us a pretty good long trade with a solid risk-to-reward ratio. We are going to go down sooner or later; the probability of it is actually very high. But there is also a chance of going higher to 32399 first to take the liquidity above the previous swing high from 2022 before retesting the wedge! It was a huge pump, and buying or speculating on price increases is very risky. I would not do that at all, so rather prepare your shorts at higher prices or at confirmation of the downtrend! From the Elliott Wave perspective, I can already see a completed impulse wave that screams for a retracement. The trendline of the impulse wave is broken, and we could definitely go down next week! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
212
🥇GOLD - Breakthrough Wedge. Price could strengthen Gold breaks the wedge resistance and forms momentum to retest 0.382 Fibo. Buyers are able to strengthen the price from 1910 to 1932, it all depends on whether the price can form a consolidation above the support. TA on the high timeframe: 1) A bounce from 1893 is forming. In terms of technical analysis the price makes a test of 1938. On the background of a bearish trend, the price can bounce from 1938. 2) The liquidity area, which may be of interest to the whales, is around 1938. 3) Before a further decline, a correction could lead price to strong resistance TA on the low timeframe: 1) Retest of 1910 support (Fibo 0.236) will show further price direction. 1.1) Consolidation above 1910 will form an entry point to buy 1.2) Breakout and consolidation of the price below the level (within the wedge) will form an entry point to sell) 2) The bulls are trying to take control of the situation. 3) An attempt to change the local trend is formed on the chart. This situation may lead to an increase to 1932 Key support📉: 1910 Key resistance📈: 1921
OANDA:XAUUSDShort
by Gold-Tech
17
GOLD → Breaking the trend on Friday, BUT...OANDA:XAUUSD market is still bearish. Breaking through the resistance of the descending channel may not play a key role. The price is in a global wedge and we see a bounce forming from support. On Friday, we saw a strong rally that many did not expect. The price was bullish on the inflation related news. Looking at the technical picture some things might become clear. Pay attention to the D1 chart below. A global wedge is forming. At the moment the market is still in a consolidation phase in a downtrend format. The retest of the wedge resistance is forming. At the moment, there are no prerequisites for the price to break the resistance of the wedge in the area of 1935-1939. Breaking through this area will form a strong momentum that will start to strengthen the price. At the moment there is a high probability of price fall from resistance. Consolidation may continue. The Fed is not going to cut rates, therefore, the strengthening of the dollar after a small correction may continue, and gold may fall in the medium term. Support levels: 1912 Resistance levels: 1920, 1938 I expect a correction to the support and possible strengthening of the price to the resistance. If the price breaks through 1912, it will head towards the area of 1902. Regards to R.Linda!
OANDA:XAUUSD
by RLinda
32
XLMUSDT - Breaking through bearish trend resistanceBINANCE:XLMUSDT forms the bottom, relative to which the price develops positive dynamics. After testing 0.0758, a rally is formed and the price makes a retest of the trend resistance. As we can see, a three-day accumulation is formed in relation to the resistance. The market is obviously ready to continue rising, but in order to do that the price needs to overcome the resistance. The resistance at 0.1035 is worth mentioning. The bulls may fight hard for this level and if they manage to hold this area, the coin will show a good result in the middle term, because the level of 0.1035 is the range support, whereas the resistance and the target for the price may be the upper boundary at 0.1305. Support levels: 0.0959 and 0.0987. Resistance levels: upper trendline, 0.1035, 0.1130 I expect a confident bullish position above the level of 0.1035. An indicator for this will be consolidation above the level. Medium-term perspective - growth up to 0.1305. Regards R. Linda!
Long
by RLinda
12
Bullish Reversal Potential on $FIL: Falling Wedge PatternGreetings, Traders! Today, I'm thrilled to share an intriguing technical analysis discovery on the stock of Filecoin ( TSX:FIL ). A falling wedge pattern has emerged, indicating the potential for a bullish reversal in the near future. Let's dive into the details! 📈 Ticker: TSX:FIL 📅 Timeframe: Daily Chart 📊 Pattern: Falling Wedge 📉 Understanding the Falling Wedge Pattern: A falling wedge is a bullish chart pattern characterized by converging trendlines that slope downward. Typically formed during a downtrend, it suggests diminishing selling pressure and the potential for a reversal. This pattern indicates the possibility of an upward price movement. 🔍 Identifying the Falling Wedge on TSX:FIL : Upon analyzing the daily chart of TSX:FIL , the following observations come to light: 1️⃣ Recent downtrend: TSX:FIL has experienced a decline in price over the past weeks. 2️⃣ Converging trendlines: The upper trendline connects the lower highs, while the lower trendline connects the lower lows. 3️⃣ Decreasing trading volume: As the falling wedge pattern forms, the trading volume has been declining, indicating a potential reduction in selling pressure. 📈 Price Targets and Trading Strategy: If the falling wedge pattern on TSX:FIL plays out as expected, a potential bullish breakout above the upper trendline might occur, signaling a reversal and potential price appreciation. Consider the following price targets: 1️⃣ Target 1: Resistance level near $80.00 2️⃣ Target 2: Psychological resistance near $100.00 🛡️ Risk Management: Implement the following risk management techniques to protect your capital and manage risk effectively: 1️⃣ Set a stop-loss order below the lower trendline to safeguard against unexpected price reversals. 2️⃣ Adjust position size based on your risk tolerance and overall portfolio management strategy. 🔔 Conclusion: Stay watchful as Filecoin ( TSX:FIL ) continues to develop this falling wedge pattern. The formation suggests the potential for a bullish reversal in the near future. However, please remember that technical analysis has limitations, and market conditions can change. Consider incorporating additional analysis and fundamental factors before making any trading decisions. Disclaimer: This post is for informational purposes only and should not be considered as financial advice. Always conduct your own research and consult with a qualified financial professional before making any investment decisions. Happy Trading! 📈💰 #TradingView #TechnicalAnalysis #FallingWedge #BullishReversal #FIL #StockAnalysis #ChartPatterns #TradingStrategies #Investing #Finance #MarketAnalysis
Long
by STP_MrNodeItAll
2
DXY Dollar strenght ahead?Fundamentals: The US #10year #yield is aiming for 4% whilst the US 2 year yield is aiming its previous hight. This is most probably on the back of higher sticky inflation which will require higher rates from the FED. This development is positive for the relative strenth of the #dollar in the #dxy Technicals: On a weekly graph, the DXY (inspite of a short spike) has traded inside a falling wedge. We are now trading at the top of the falling wedge. Within the falling wedge, we currently have a right shoulder as part of an inverse head & shoulders pattern. Potential Upside: If we see both the falling wedge and inverse head & shoulders breaking to the top, the wedge's projected move is marked in yellow and the inverse head & shoulders projected moves are marked in white.
TVC:DXY
by chsmit