$SAVE Spirit Airlines Massive Falling wedge SetupSpirit Airlines
Showing a massive trendline from $40 range.
Take profits as we break the wedge up to the $33 area and maybe even back up to $40
-- Long Term Swing Trade setup here
Enjoy!
Falling Wedge
$PLUG - Long Term Swing Trade - Falling Wedge SetupNASDAQ:PLUG
Wedging since 2021!!!
TPs at each fib level but ultimately swing to ~$48
Push Play Enjoy -- This is charted not in LOG scale
Bullish Falling Wedge Pattern Forming on $UPWKHey Traders! Today, I want to share an exciting technical analysis discovery I made on the stock of Upwork Inc. ( NASDAQ:UPWK ). It seems that a bullish falling wedge pattern is forming, indicating a potential reversal in the near future. Let's dive into the details!
📈 Ticker: NASDAQ:UPWK
📅 Timeframe: Daily Chart
📊 Pattern: Falling Wedge
📉 What is a Falling Wedge?
A falling wedge is a bullish chart pattern characterized by a contracting range between two downward sloping trendlines. It typically forms during a downtrend and signifies a potential bullish reversal. This pattern suggests that the selling pressure is diminishing, and buyers may soon regain control, driving the price higher.
🔍 Identifying the Falling Wedge on NASDAQ:UPWK :
By analyzing the daily chart of NASDAQ:UPWK , we can observe the following:
1️⃣ A clear downtrend in the stock's price over the past few weeks.
2️⃣ Two converging trendlines: The upper trendline connects the lower highs, while the lower trendline connects the lower lows.
3️⃣ Decreasing trading volume as the pattern develops, indicating a decline in selling pressure.
📈 Price Targets and Trading Strategy:
If the falling wedge pattern plays out as anticipated, we can expect a potential bullish breakout above the upper trendline. This breakout could trigger a bullish rally, possibly reaching the following price targets:
1️⃣ Target 1: Resistance level near $40.00
2️⃣ Target 2: Psychological resistance level near $45.00
🛡️ Risk Management:
As with any trading strategy, it is essential to manage risk effectively. Consider implementing the following risk management techniques:
1️⃣ Set a stop-loss order below the lower trendline to protect against unexpected price movements.
2️⃣ Adjust position size according to your risk tolerance and overall portfolio management strategy.
🔔 Conclusion:
Keep an eye on Upwork Inc. ( NASDAQ:UPWK ) as it develops this falling wedge pattern. The formation suggests a potential bullish reversal in the near future. However, remember that technical analysis is not foolproof, and market conditions can change rapidly. Combine this analysis with other relevant factors before making any trading decisions.
Disclaimer: This post is for informational purposes only and should not be considered as financial advice. Always do your own research and consult with a qualified financial professional before making any investment decisions.
Happy Trading! 📈💰
#TechnicalAnalysis #FallingWedgePattern #UPWK #BullishReversal #TradingView
COMP Possible Breakout!BINANCE:COMPUSDT lurking around SR flip level.
Plan A: Once price breaks out, Possible Long via Retest or pullback with potential upside targets 41, 47 and 57
Plan B: Short to possibly 31.00 zone
Remember CRYPTOCAP:BTC will drag BINANCE:COMPUSDT in it's direction so watch out for the possible Head and Shoulders on CRYPTOCAP:BTC that hasn't accelerated away yet proving Plan A / Plan B ideas. You can review my thoughts on this CRYPTOCAP:BTC Head and Shoulders here: tinyurl.com
Always having Plan A and Plan B scenarios so we can react once the markets provide an opportunity to execute our edge.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations.
$M Long Swing Opportunity with Big Price TargetsNYSE:M is in a downtrend channel but I think there is a long opportunity as long as it holds the 15.9 level with targets of 19 and 22.65
-Falling Wedge breakout and retest wedge-line as support
-Bottom of channel bounce with strong green candles
-Buying volume vastly outweighs selling volume from trend
-RSI showing momentum with plenty of room to run
Good idea to wait for a confirmation hold above 16 old support for entry
BTC QUICK UPDATE!!Hello everyone, if you like the idea, do not forget to support it with a like and follow.
Welcome to this quick BTC update. Currently, it is trading around the
26.4K level.
According to the chart, BTC is trading inside a falling wedge-like structure which is generally a bullish pattern. After the SEC sued's Binance and Coinbase markets took a dip but recovered strongly within a few hours and this dip made a deviation below the wedge.
As of now price is holding the $26.2k support so we can expect a bounce back from here. The real resistance is at the $27.5k level. Once we break and close above this level expect a good move up to the $32k- BER:33K level.
Also, keep in mind that if we go again below the wedge and close it then bears will take full control and we might see a heavy dump in that case.
As of now, it looks fine to me and looks even better if we are able to break the wedge.
if you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
Falling Wedge Break -> Double TopSPX broke out of a falling wedge on the weekly, and is headed for the same ATH.
It could reach a new ATH at its 1.5x measured target (not pictured above), but I would expect the double-top to play out should DXY move up above 105 and head towards 118-122.
Long until we hit the double-top, then short.
More related ideas and previous posts linked below.
USDCAD I Bullish CAD News but in the rangeWelcome back! Let me know your thoughts in the comments!
** USDCAD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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BTC 0 or hero? 📈 Chart Analysis:
falling wedge: Top tip wait for breakout and retest of the AVWAP before taking a long, however we did get an engulfing candle on the reaction from the 150ema so i have gone long already trying to front run patterns is not the best thing to do so be cautious if you are to do the same!
We got the retest of the Head and Shoulders resistance in prep for the latest sec vs binance news which took us to out first target 150EMA: top tip play any SHORTS super carefully here as the reaction from the 150 was extremely bullish but know we could still see out lower avwap target currently at the 18k area 😉
additional info!
Currently in a Stage 3: where we look for Bullish continuation patterns (falling wedge) and/or topping patterns Head and shoulders
OBV still in a stage 1 and looking weak!
🔔 Risk Management:
Adjust your position size based on your risk tolerance and use proper risk management strategies, such as trailing stop losses, to lock in profits as the price moves in your favor.
⚠️ Disclaimer:
This analysis is for educational purposes only and should not be taken as financial advice. Always conduct your own research and consult with a financial advisor before making any trading decisions.
Bullish Breakout Imminent for Bitcoin Amidst Falling WedgeBitcoin is currently forming a falling wedge pattern, a bullish chart pattern that is typically seen during downward trends. This pattern is characterized by a narrowing range with lower highs and lower lows. The falling wedge suggests that the selling pressure is starting to weaken and a breakout to the upside is likely.
Over the past 24 hours, it has seen a change of approximately 4.6%, indicating a positive momentum. The volume over the past 24 hours has been substantial, further supporting the potential for a breakout.
The falling wedge pattern is nearing its apex where the upper and lower trendlines converge. This is typically where a breakout occurs. If BTC touches the higher level of the wedge, we could see a bullish breakout. However, it's important to note that while the technical analysis suggests a bullish scenario, the future of the market is never certain.
In terms of news sentiment, the overall outlook for Bitcoin remains positive. Recent news highlights include the launch of Bitcoin NFTs on the Binance NFT Marketplace, and the price of Bitcoin breaking the $26,000 mark. However, there are also regulatory concerns, with Coinbase facing scrutiny from U.S. State Securities Regulators and the SEC suing Coinbase for alleged securities law violations. These developments could have an impact on the broader crypto market, including Bitcoin.
In terms of trading strategy, traders should watch for a breakout above the upper trendline of the falling wedge pattern. If this occurs, it could be a good opportunity to enter a long position. However, it's also important to set a stop loss to manage risk. A stop loss could be set below the lower trendline of the wedge.
Traders should be aware of the technical resistance levels at 29048, 29143, and 29813, which might experience selling pressure. On the upside, if the bullish momentum continues, price objectives could be around the 30420.74, 31237.11, and 31477.37 levels, and potentially as high as 38403.97. On the downside, support is expected around 25604.51, 24440.41, and 22769.39, with stop losses suggested below these levels.
In conclusion, while the technical analysis and current trends suggest a bullish outlook for Bitcoin, traders should always be prepared for different scenarios. Always remember to manage your risk and trade responsibly.
Disclaimer: This analysis is for informational purposes only and should not be considered as financial advice. Always do your own research and consult with a professional before making any financial decisions.
Down to 5.5 and Lower or Back to ATH at 19.4Scenario A:
- Confirmed Head/Shoulders top, successful re-test and then down to 5.5%
- Likely headed much lower after losing the lower trendline of a long-term rising wedge, which has also been successfully re-tested and has continued down
- Possible because of two confirmed patterns and re-tests.
Scenario B:
- Unconfirmed Falling Wedge, which if it breaks up from will target ATH at 19.4% and bring us back into the rising wedge on pending a 2nd re-test.
- Double-top and then true exit of the rising wedge before heading much lower
- Possible because this behavior would be similar to the behavior following its previous set of peaks in 2017-18.
Nearing the end of a long-term Falling WedgeSuku appears to be at or near the end of a falling wedge it has been forming since inception. A bullish break of the wedge has a 1.5x target that is identical to Suku's listing day high.
💎 Ethereum (ETH) is on the rise! 💎 The price surged by an impressive move on May 28 surpassing a key resistance level and consolidating around $1,894 since then.
💎 This consolidation phase provides an excellent opportunity for Paradisers to consider accumulating ETH, especially if there is a pullback towards the stable support level at $1,853.
💎 The bullish thesis for Ethereum price would be invalidated if it breaks down below the $1,829 support level.
💎 As Ethereum continues its journey, it's essential to closely monitor these key levels and market dynamics Stay tuned and make your moves wisely! 💪💎
Bitcoin -> Look At The Daily PatternHello Traders,
welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that Bitcoin recently perfectly retested and already rejected a quite nice previous weekly support zone which was now turned resistance at the $30.000 level.
You can also see that there is a next weekly support zone coming in at the $25.000 area, so I am now just waiting for Bitcoin to retest this next demand level before I then do expect another weekly rally towards the upside.
On the daily timeframe you can see that over the past couple of days Bitcoin has been forming a very obvious falling wedge formation which is normally a bullish (continuation) pattern, so I am now just waiting for a breakout above resistance trendline and then I do expect another daily push to retest the $30.000 area.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
Black swan event or pump? $BTC update!📈 Chart Analysis:
Potential falling wedge: Top tip wait for breakout and retest of the AVWAP before taking a long
Are we retesting the Head and Shoulders resistance in prep for a "Black Swan" event that will take us to our low target?: top tip for an early SHORT position you could take the short now and place a stop above the highest high of this retest OR on the falling wedge break out area ;)
additional info!
Currently in a Stage 3: where we look for Bullish continuation patterns (falling wedge) and/or topping patterns Head and shoulders
OBV still in a stage 1 and looking weak!
🔔 Risk Management:
Adjust your position size based on your risk tolerance and use proper risk management strategies, such as trailing stop losses, to lock in profits as the price moves in your favor.
⚠️ Disclaimer:
This analysis is for educational purposes only and should not be taken as financial advice. Always conduct your own research and consult with a financial advisor before making any trading decisions.
$SOLUSD - Falling wedgeHi guys! 👋🏻
🔔 Solana is forming a falling Wedge and waiting for a breakout to reach the targets
🔔 New Ethereum - Solana bridge which is an EVM on Solana coming, so expecting a high impact of this product on both blockchains.
🔔 Falling wedge is a sign for a trend reversal. Breakout will signal for an uptrend in this case.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
Falling Wedge Targeting Weekly High from Initial ListingPossibility - SUKU could be seen as at the end of a falling wedge that has a 1.5x target which perfectly intersects with its ATH during its initial listing.
A more realistic target and long-term outlook is indicated on the USD pair chart linked in related ideas below.
ETHEREUM - Bullish Falling Wedge 📈Hey Traders👋🏻
The ETHEREUM Price Reached a Strong Support Level ✔️
Currently, ETH formed a Falling Wedge ✔️
The Price Failed To Create New Lower Low📉
The Resistance Line of the wedge is Broken 🔥
So, I Expect a Bullish Move📈
i'm waiting for a retest...
-----
TARGET 1: 1992.81🎯
TARGET 2: 2097🎯
___________
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Suku to 10-11 cents?Suku broke out of a falling wedge here. Earlier charts I've posted were expecting 10-11 cents, even up to 13-15. Let's see if it finally gets there after the long consolidation from its move up earlier in the year, in January.
Some confluence from the OBV indicator to support this - on balance volume has been consistently rising throughout the consolidation within the wedge. Note that last time OBV was at this level, back in January, was when we saw the last larger move up.
Going against this - DXY may be in for a strong move up soon. It could be delayed or even move down instead, but if it gets a strong move up, I imagine this is going down, or at least not going much further beyond the previously mentioned targets.
This applies to pretty much everything right now:
I Cannot Short This !!!🌟The MATICUSDT is in a Bullish phase by reaching a PRZ zone & is in a Falling Wedge Pattern.
🌟 Bullish signals in the PRZ area are:
- Support zone
- Pivot S1 monthly
- The Bottom of the Wedge area
- Falling Wedge Pattern
⭐ Note if the PRZ is broken downwards with the strength of Bearish candles or Wedge broken from the bottom , this analysis of ours will be failed.
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Hormel Foods: Bullish Deep Crab with Bullish DivergenceHormel Foods is trading within a Falling Wedge as it Bullishly Diverges at the PCZ and the Earningss Date approaches.
There is also a Bullish Piercing Line on the Daily right now.
✅LTC is about To do a Bullish movement!🌟The LTCUSD is in a Bullish phase by reaching a PRZ zone & is in a Falling Wedge Pattern.
🌟 Bullish signals in the PRZ area are:
- Support zone
- Pivot S1 monthly
- Bullish Channel
- The Bottom of the Wedge area
- Falling Wedge Pattern
- Moving EMA100
⭐ Note if the PRZ is broken downwards with the strength of Bearish candles or Wedge broken from the bottom , this analysis of ours will be failed.
✅Investing in something that is easy is rarely profitable.
Robert D. Arnott
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🌍Thank you for seeing idea .
Have a nice day and Good luck.
