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Falling Wedge

XRP - Another 83% - 350% pump is very likely! (must see) Another 83% pump to 1.3244 from the current price in the next few days or weeks is more than likely! Why 1.3244? It is the next strong resistance because we have there the 0.618 Fibonacci retracement from the previous major wave. Also, there is a trendline from 2018 -> 2021, which is dynamic resistance, but it's near the specified FIB level! XRP looks very strong because bulls were able to break a falling wedge pattern and an ascending triangle pattern on the weekly chart! Together with the recent bullish news, the XRP coin surged after a judge delivered a huge win to Ripple in the SEC case. If the bulls are able to break the 1.3244 level, then the next resistance I see is the previous all-time high from 2018, which is at 3.2834. But make sure to sell your XRP here, because it's probably not going to break on the first touch. And a 50% or 70% crash from this level is very possible! The market cap of XRP is $38,028,893,068 compared to ETH $232,527,075,117 and BTC $589,643,779,223. The market cap of XRP is pretty big already, so there is not too much room for some crazy 100x profit. Make sure you understand it if you are a hodler and expecting moon gains. 350% to reach the previous all-time high is definitely possible in the medium term. What do you think about XRP? Let me know in the comment section right now! 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. XRP pumped from 0.49 to 0.92 and made a 100% profit in a single day. It was rejected by the 0.618 LOG FIB and the middle of the previous triangle from 2021. Now the price is around 0.72, which is a pretty good pullback to buy XRP. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
62
DOGEUSDT → Consolidation moves into the distribution phase BINANCE:DOGEUSDT is forming a consolidation in the format of a wedge. Within the consolidation, the price makes a false breakdown of support and thus feels the bottom of the market. The price is forming a rather long descending wedge. The pattern is a bullish possibility to turn the market. After a false breakdown of the support, consolidation is formed above 0.0705, which successfully breaks the resistance of the wedge. The phase of consolidation on the market is smoothly passing into the phase of distribution (realization of accumulated potential) The main task of the bulls is to hold the support area at 0.0705 by all means. If the position is successful, the price will go up. The medium-term potential in our case is the resistance at 0.09460. Support levels: 0.0705, 0.0639 Resistance levels: MA200, 0.0817, 0.0946 I expect consolidation above this support with the subsequent formation of a medium-term impulse towards our targets. Regards R. Linda!
Long
by RLinda
31
GOLD → Resistance breakout is directed towards a trend changeOANDA:XAUUSD is finally confirming a trend change. The price passes through a key liquidity area and forms a strong momentum. What's happening? Pay attention to the D1 chart below. The price is breaking the trend resistance. A rather interesting picture is developing in which gold is gaining upside potential towards 2000. The price is testing the resistance at 1959. Probably, the price can form a correction to the previously broken boundary and the chance for this is quite high. But with a strong consolidation of the price above the level of 1959, a bullish impulse to 1970 or even to 1981 will be formed. The Fed is talking about rate hikes and aggressive policy, but at the same time inflation is showing a green signal and is starting to weaken from 4% to 3%. Investors and analysts are not expecting a long-term complication of the situation, the dollar is likely to continue to weaken. The moving averages show a strong support area. There is strong resistance at 1967 ahead. It is worth paying attention to it. Resistance levels: 1959, 1970, 1981 Support levels: 1955, 1945, previously broken channel boundary. I expect consolidation relative to 1959. The market needs to decide on the potential. A correction is possible from the level, but if the bulls hold the area of the key level, the growth will continue. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
25
MASKUSDT → Tandem signal: resistance breakout and SMA crossing BINANCE:MASKUSDT is forming a correction in the format of a descending wedge. A rather strong consolidation is forming at the base of the uptrend under the resistance of the wedge. What to expect from the price? The coin breaks through the formed descending resistance and begins to form a bullish impulse. Since the bullish signal is formed at the base of the trend, the price demonstrates a rather weighty potential of 70-120% We have a tandem signal: moving averages crossover + wedge resistance breakout. Altcoins have recently improved dynamics and are starting to show good results, which suggests that the cryptocurrency market may come to life in the medium term. Support levels: 3,335, trend support, previously broken wedge boundary Resistance levels: 3,650 I expect a retest of the 3.650 level followed by a breakout. The buy signal is quite strong and there is a high probability that the coin will show bullish dynamics and rise to 4.840 or 6.00. Regards, R. Linda!
Long
by RLinda
10
💱EURGBP - A break of support forms a signal EURGBP is breaking the descending triangle support and at the same time forming a retest of the previously broken boundary. Global trend, 0.85220 resistance plays a key role TA on the high timeframe: 1) A break of flat support defines a new path for price. A channel to 0.84600 is opened 2) Price is in the liquidity zone. The resistance level at 0.85220 may form a sell entry point TA on the low timeframe: 1) Bears are developing their scenario. After the support breakout, a predictable retest is formed 2) Global trend and local trend coincide. Both are downtrending 3) If the price enters the triangle range, an impulse to the resistance of the figure may be formed, but in the long term I expect a decline from both the triangle resistance and the level 0.85220 Key support📉: 0.84600 Key resistance📈: 0.85220, 0.85550
Short
by AndeWave
5
SMG Gap UpScotts Miracle Grow is up +7% and trading above $70 after a gap up this morning - trade was initiated last week on the falling wedge breakout. Gaps tend to get filled so I've adapted to the price action and moved my stop-loss order up to just below today's candle at $68.45. No way to lose money on the trade now if price reverses, upside target remains near $80. Lower PPO and TDI indicators are still reading bullish and increasing in their bullish trends. Buy Price: $64.34 Stop-Loss: $68.45 Take-Profit: $80-ish Gain on trade if I get stopped out at $68.45: +6.3% Gain on trade if price reaches the take-profit level near $80: +24%
NYSE:SMGLong
by PrepForProfit
2
AUDCHF - Has A Bullish Falling Wedge Chart Pattern Formed?Analysis: Looking at the charts we can see that price seems to not know where it wants to go. One minute it's heading to the upside and the next it's heading to the downside. This can make it quite hard to trade during these times but we see a setup occurring on this pair. Price recently has been heading to the downside however we are actually bullish on this pair and we think that a breakout to the upside will occur. Where price is currently we have marked out a strong area of previous support. When this level was touched in the past, we saw a huge strong bullish move happen, so we expect that this will happen again, as key levels tend to hold more then once and this level has be held 3 times, making it a very strong support level. To add to our idea, on the higher timeframe, we can clearly see a bullish falling wedge forming. This is a bullish chart pattern which is often followed by a breakout to the upside so this is what we expect to see happen on this pair as this is the pattern that we have. We're also at the bottom trendline of the chart pattern so we expect that there will be some bullish pressure around this area which will hold price and push it to the upside. All of these technical confluences together line up to give us a bullish bias on this pair but lets take a look at the fundamentals. Fundamentally the AUD is the 2nd weakest major currency whereas the CHF is the 3rd weakest major currency so this slightly goes against our idea, however overall we are bullish on this pair. Tomorrow we have some news coming out for the AUD which could give us the catalyst that we need to see price breakout to the upside. This isn't the best looking setup by any means and it does go against the trend slightly however it's still to our trading plan so it's still valid. It doesn't matter how the setup looks, all that matters is the result. As long as you stick to your trading plan and let your edge play out, you'll be profitable. Not every setup will look perfect and the sooner a trader learns this the sooner they will become profitable. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Stay Safe - The JPI Team Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
28
MATICUSDT → Breakout figure and an attempt to change the trend BINANCE:MATICUSDT breaks through the resistance of the key figure and opens a new bullish potential. If the nearest resistance is broken through, the price can form a strong momentum. Earlier we saw an attempt of strengthening, which smoothly changed from an ascending price channel to a bearish wedge. The latter figure is quite capable of breaking the trend and changing it, for this in our case, the price needs to pass through the resistance of 0.7440. Recently cryptocurrencies, both bitcoins and altcoins, start to recover, and there are even some fundamental reasons for that. The moving averages act as resistance, but at the moment the MA-50 is being tested and in case of a breakout the 31% range will open, which is quite an interesting prospect for us. Support levels: 0.6500 Resistance levels: MA-50, 0.7440 I expect consolidation near resistance, followed by a breakout and bullish momentum. The medium-term target is 0.9700. Regards, R. Linda!
MLong
by RLinda
14
GOLD → The price is standing still. What's going on? OANDA:XAUUSD continues to stand still and form a consolidation within the 1938 - 1912 sideways range. The rebound to resistance is likely to continue in the format of a bounce to support. On the daily and weekly chart there is a consolidation in the red zone, after the breakdown of the key support levels. Most likely an energy buildup is forming before the rally in one direction or the other. In order for the counter-trend correction to be recognized as a trend change, the price has to break the resistance 1935-1939. In this case the market will start to form a strengthening of the price and a bullish trend will start to form. At the moment within the counter-trend correction you should wait for the decline from the resistance 1933, or the retest to 1920 (1912) with further breakout and decline to the global minimum. Support levels: 1920, 1212 Resistance levels: 1933, 1935, 1939 I expect a local rise followed by a fall - since that is how the price behaves inside the range. The Fed is still aggressive policy and most likely, the market has decided to rest a bit before the further movement. Regards R.Linda!
OANDA:XAUUSDShort
by RLinda
32
GOLD → Mid-term perspective OANDA:XAUUSD breaks the uptrend. A break of the support of the bullish price channel ends the impulse to 1893 and forms a smooth transition to the state of consolidation in the flat boundaries On Friday, the price makes a retest of the previously broken support level of 1935. Tandem of technical and candlestick analysis does not give the preconditions for a possible breakout of the resistance in the near future. In the first half of the week the price might again test the 1935-1939 area and make a false-break. The situation looks bearish at the moment, so my main priority is the downside of the price to 1907 with a new attempt to break-through this support. The moving averages are also pointing at the formation of a global flat. 1954-1870. The strong pressure from the sellers is likely to be still present in the market. The medium-term outlook points to a possible further decline. To make a bet on further growth from the technical analysis point of view, the price should break through the resistance area of 1935-1935, and then the momentum to 1960-1981 will be formed. There are some interesting news in the week ahead. The inflation in the west is still high and in that case the gold has negative fundamentals as the Fed continues to aggressively look at the rates. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
19
📉🌊 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 AndeWave
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
EDITAS bottoming in process, turnaround soon, target min ~22 USDEDITAS could be in the bottoming process, I am watching it for a few years now. We have a falling broadening wedge, on which we had a breakout already. This is part of a bigger falling wedge (blue). It is techincally possible, we had put in the lows at 6.35 as a wave 5 (as an ending diagonal), which is part of wave V as a last wave, of the biggest Wave (II). This would indicate, for quiet a few years we have the lows. Now, it is possible (~20%) that the wave(II) can extend, and that currently what we are forming is just a wave(IV) as a bigger ABC correction, but we should NOT ignore this good opportunity. In the primary scenarion (bottom is in place): we already had a 5 count up (sorry for the inconsistency in the colors and the letterd counts) as a diagonal, completing the orange wave I (or wave A) up, and now, alongside with the news that shares are issued, we are having the orange wave II as an abc pullback. Due to the impulsiveness, this is certanly an a wave down, and it does not seem finished yet. It will be followed by a b wave up, and then agan a c wave down. I have marked the turnaround/support boxes. Possibly, with the abc we could form a head and shoulders (but target wont be reached). We would like to have the turnaround optimally in the green box. It could have a deeper pullback, so chances are, it will drop to the orange box. (I am scaling in) Under the orange box is what I call the "danger" zone; it COULD still turn around, but more often than not, it is just not playing out, and being extremely risky, signaling, that possibly new lows are coming I have already made 3 positions opened between 8-9 USD from previous months (accumulation) Strong support (which will be my scale in zones for further accumulation): ~8.80 ~8.40 ~7.75 I am also swing trading it(several days->weeks, shorting/buying) on a short frame based on elliott counts/luxalgo/support zones/MA's. (i.e.: if a wave seems done, put in a hedged long for 3 counts up for b wave, then short it down hedged till .618 OR 5 counts down) On the daily: RSI is cooling down from overbought levels, and MACD possibly diverging (already converged) 200 day MA is rejecting us,180 as well. 15day SMA, 21day EMA, 9day SMA rejected us. 50/52 day SMA is below us, but with the bottoming/pullback likely we will sip below that (but converging upwards) On the weekly: we getting rejected for a while on the 9.85 levels, indicating a pullback for many weeks now (again, my primary scenario it wants just a wave 2 pullback in) RSI is pulling back, but have not diverged with the trendline, and possibly will not, i expect to provide support MACD is coming up nicely to the base level, but deccelerating. Invalidation for the setup is the brushed yellow line.
NASDAQ:EDITLong
by tommtajlor
3
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 AndeWave
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 AndeWave
14