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Falling Wedge

META - falling wedge pattern (bullish)After a strong 28% gap post earnings on 2nd Feb, META has now given up about half its post-gap gain. However, its longer term bullish picture remains intact if we look at the following factors: 1. Stock is still trading above both its 20 and 200 day moving average (the latter of which is beginning to flatten out, a precursor to turning up) 2. A falling wedge pattern is forming (potentially bullish) 3. Bullish divergence forming between price and RSI (*see Note below) A break out of this wedge could be an opportunity to long again if one has taken profit earlier or has gotten stopped out as stock went into this steep retracement. I would put initial stop loss slightly below the most recent pivot low (which will be the candle just prior to the wedge breakout). However bear in the mind the stock's momentum could be slower for now until the next catalyst appear. *Note that while a bullish divergence could materialize into a short term bounce lasting about 2 to 3 candles, it does not translate into a longer term trend change on it's own. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:META
by Juliac
XRP - It's time after 5 years of waiting! Hodlers have been waiting more than 5 years for this upcoming pump that is going to happen to XRP! The best part is that you don't have to wait; simply catch the largest moon phase and profit. I expect XRP to double in price first to hit the symmetrical triangle's POC, which is around 0.81. Maybe even higher, to 0.94, where the 0.618 FIB and high liquidity zone are. After the bulls break the 1.00 level, XRP will go absolutely out of control, and there is nothing that can stop the massive, mind-blowing pump. At this moment, XRP has been moving in the falling wedge pattern, and as you can see, the price is consolidating exactly at the wedge's trendline. We are likely to see a large green dildo very soon, and you should probably set up a breakout order, such as a stop market, stop limit, or conditional order. Or you can buy right now for a higher RR. The breakout could be very quick; you could wake up in your bed and see XRP is 40% up because this is what XRP does. 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 post trade setups privately. On the chart, we can see a failed head and shoulders pattern. It looks like the bulls successfully defended the threat that would send XRP to 0.1. It's very positive, because the bulls are here and they want the price to go higher. From the Elliott Wave perspective, XRP is a little bit different than other coins. We can see 3-wave structures everywhere, and it's not an easy job to do an Elliott Wave count on this coin. I know more about XRP than anyone else. When XRP starts to pump, it's usually a beast. The problem is that it's been a little pump and dump over the past few years. But this time should be different, and the bulls should hold the price after the pump. Let me know what you think about XRP. Do you think it's time for a pump, or is it going to die? Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
63
Another Reason to look at BCHFalling wedge broke out a good while back but has yet to make a strong move up towards measured targets, as shown above on the 3 day chart. Also: - The long sideways movement is typical of accumulation prior to a stronger move. - MACD has been diverging the entire way down, - RSI has been diverging as well, and more recently stronger divergence. Hitting both targets would provide nearly 1100% gains vs. Bitcoin from current price if this plays out: Related idea here:
Long
by dudebruhwhoa
1
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. After the CPI data, BTC quickly pumps above the $22k zone from the important support level of $21.5k level. So what's next? BTC is forming a falling wedge-like structure in 4hr time frame which is generally a bullish pattern. Currently, it is trading near the upper trendline of the wedge. We need to break and close above this wedge for a bullish breakout. Once it breaks above the wedge we can expect more pump up to $24k from here. In case of rejection, we might see another retest of the $21.5k level and expect a pump from there. So the plan is really simple here. Either wait for a breakout or wait for some dip up to the $21.5k level. Invalidation of this bullish scenario if we get a 4hr close below the $21.3k level. If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Long
by CoreCrypto1
8
Algo with perfect retest of green channel tl as supportPerfect support retest of the bottom trendline of the green horizontals channel. In reaching there price also broke above the purple falling wedge…we can also see now that price is testing the turquoise neckline of an inverse head and shoulders as well. I have put the inverse head and shoulder target and the falling wedge targets on the chart for now. Will add the channel breakout target if/when we get closer to its top trendline. *not financial advice*
COINBASE:ALGOUSDLong
by DrDovetail
3
ATOMUSDT - OversoldIn this market I wish I had more money to invest ( "you need money to make money " ). Anyways... Observe the above 5D chart (USDT pair). Consider the following: 1) Price has declined nearly 87% from its all-time high 2) Falling wedge pattern on RSI 3) Price sitting at previous resistance/support (no indicator this level will act as support now though) 4) For a consecutive 50 days (80 if we ignore the green doji candle printed on 16 April) ATOM has been depreciating 5) RSI at heavily oversold levels 2D BTC pair below satisfying the same above points Timeframe: Not sure Return (initial) : 0.5x - 2x Leverage: Most I would use here is 2x. PS : Not sure why but the 2D BTC pair is extremely strong. Not financial advice!
Long
by unknownpower
WOOUSDT wants the supply zone?WOOUSDT has seen substantial growth in recent times, as indicated by a return of more than 79% since my previous idea. The market for this asset recently broke out of a falling wedge pattern, with support noted at 0.18. The price has since retested the 0.5 Fibonacci level, allowing it to acquire new liquidity. The next target for this asset is expected to be the supply zone at 0.24 dollars, so According to Plancton's strategy , we can set a nice order ––––– 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