EUR USD TRADE SETUP DAILY TIMEFRAME EUR USD has formed a Symmetrical Triangle on the daily timeframe, and a breakout has occurred now we need to wait for a retest of the pattern before looking for an entry Short/Sell on the lower timeframe
Forexpatterns
Decoding the Rising Wedge Pattern in Forex Trading 📈📉👩💼
In the world of forex trading, recognizing and understanding chart patterns can provide traders with invaluable insights into potential price movements. One such pattern, the rising wedge, is a powerful tool for identifying impending trend reversals. In this article, we'll delve into the details of the rising wedge pattern, explore its characteristics, and provide real-world examples to help you navigate the forex market more effectively. 🚀📊🔍
Decoding the Rising Wedge Pattern
The rising wedge is a bearish reversal pattern characterized by its narrowing price range between two ascending trendlines. It signals a potential shift from an uptrend to a downtrend, often preceding significant price declines. Key features of the rising wedge pattern include:
1.Two Sloping Trendlines: The upper trendline connects the higher highs, while the lower trendline links the higher lows. As time progresses, the price range between these trendlines contracts, creating a wedge-like shape. 📉↗️📉
2.Volume Analysis: Typically, volume diminishes as the pattern develops. This reduction in volume signifies decreasing interest and participation in the upward movement. 📉🔊📉
3.Bearish Implications: The narrowing price range indicates weakening buying pressure, as sellers gradually gain momentum. A breakout below the lower trendline confirms the pattern's completion and suggests a potential trend reversal. 🐻📉📈
Examples
1.Currency Pair A - EUR/USD:
2.Currency Pair B - GBP/JPY:
3.Currency Pair C - AUD/NZD:
Navigating the Rising Wedge Pattern
1.Confirmation: While the pattern provides a bearish signal, traders often wait for a breakout below the lower trendline to confirm the reversal before entering a trade. 🔄🔍📉
2.Risk Management: Place stop-loss orders above the upper trendline to protect against false breakouts. ⛔️📈🛡
3.Target Levels: Project the potential price decline by measuring the height of the pattern and subtracting it from the breakout point. This can guide your profit-taking strategy. 📏📊💰
Mastering the recognition and interpretation of the rising wedge pattern empowers forex traders to anticipate trend reversals and execute trades with confidence. By studying the pattern's characteristics, volume trends, and breakout confirmation, you can enhance your trading strategy and make informed decisions in the dynamic forex market. 📚🔍📊
With the rising wedge pattern in your arsenal, you'll be able to ascend to profitable insights and navigate the forex market with skillful precision. 📉🔍💼👩🏫✨
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CADCHF LOOKING FORWARD TO HOLD🤔I see Bearish signs. Let's see 15m/1hr coming in for entry type.
Thanks for reading
AS ALWAYS TRADE SAFE AND STAY SAFE!
NZDCHF 15mins 👀 MUST WATCH Style of entry on 15mins/1hr. Lower time frame correction should form before entry.
Thanks for reading
AS ALWAYS TRADE SAFE AND STAY SAFE!
GBPAUD POSSIBILITY Watching this as a reversal. Our major focus is if it makes the lower time frame continuational correction to continue the ride down that will be my possible entry.
Thanks for reading
STAY SAFE AND STAY SAFE!
AUDJPY AWAITING MOVE Still waiting for a bearish implusive break and a lower time frame correction to confirm that selling opportunities. Pending order
Thanks for reading
AS ALWAYS TRADE SAFE AND STAY SAFE!
April Monthly CandleThe April Monthly Candle is starting to fit inside the March Candle just like last month. You know what happens when these start to nest inside one another. If the Monthly pattern continues this could be another huge breakout. But this time the break would be because of the adoption & development as companies like Walmart & McDonald's have been vacuumed up in the Shopify Bitcoin deal earlier this month. It's not going to be about how many BTC you own but if you own ANY Sats at all. NFA. Do what YOU want! Sea Shells, cow dung, EX Are Pee, whatever.
GBPUSD Wedge - Breakout Expectation Bull or Bear?GBPUSD has been consolidating since the start of August. We now see a wedge pattern. Expecting a breakout above or below this wedge.
If above, Price can rise to 1.3300 handle.
If below, expect price to fall to 1. 2900 handle.
Short term trades to scalp this wedge range is fine but use low risk and short stop losses. Otherwise wait for confirmation of direction break.
Good luck trading! Please help like these free analysis as others will benefit from seeing them as well.
Let me know how I can help.
Charles V
www.cvfxmanagement.com
Trading made Simple
AUDUSD Signal based on pattern triangle ! Simple, 48 hrs Pattern Triangle with T1 and T2 trendlines, this pattern will be crossed in next 48 hrs and that cross will be the most important signal for AUDUSD for this week. After crossing ther will be possibility for formation fo the new Trend Channel . Mostly Triangle is crossed on 5th touch, but I think now we can not bet on that, you can trade to any direction where trendline will be crossed, T2 - BUY and T1 - SELL
GBPCHF ShortBearish Pattern + Possible double top + possible small head and shoulders inside
The price have been making some strong push for the up side and geting rejection. We can expect the price to come down
EURUSD. Will the price go up the pattern?Hello ladies and gentlemen.
This chart shows the most popular currency pair in the forex market - this is the Euro and the American Dollar.
Is the price in a cup and handle pattern, this means that by diving down,
Price will inevitably go up to its target.
Good luck to you. Do not get coronavirus.
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This idea does not provide the financial advice.
EURUSD Long SetupPrice has recently been trending in downside momentum, now over the last week has been in consolidation (a descending channel with abcde correction), which it broke to the upside. Now a possible retracement (retest of the broken structure) might come and then we get a possible big move to the upside.
Scenario: Long; @(50% - 61.8%) retest of broken structure.
Stoploss: @(0.786%)
Takeprofit: @(1st(-0.272%,)(2nd(-0.618%))
Short EURUSDShort on EURUSD after head and shoulders pattern and break through key levels. Bears power is also gaining traction
BITCOIN ANOTHER PUSH SHORT TERM?On some smaller time frames bitcoin looks to be forming a bull flag. The 4 hour looks like its going to push the local range top of 3800. We've dumped on low volume even after the ETF withdraw. If bitcoin stays steady and continues pushing upwards, it will look really strong. Until then bitcoin is still in a downtrend.
USD/JPY MELTDOWN!!!!Whats up traders so based on my technical analysis I see a head and shoulders forming precise analysis with the retest of 110.510 support breaking it and causing a meltdown. With tomorrows NFP data if its negative but even if its positive there is resistance at 111.730 on the daily time frame. Depending on the market behavior tomorrow will determine my next move,
SPX500 Historical Moment - Potential Short SetupIS DOLLAR READY
FOR CORRECTION ?
-----------------
WILL United States
SUPPORT UK AND
SAVE GBP ?
----------------
Short Targets would be 1500
GBPUSD 2016-2020 FORECASTPotential Two Scenario's
------------------------
Scenario 1:
----------------
Dollar has to crash
to prove GBP will appreciate
Scenario 2 - AFTER ARTICLE 50
--------------------------
MORE JOB LOSSES
(-VE) INVESTOR CONFIDENCE
INDUSTRIES EXIT (NISSAN ETC)
SWING TRADE ALERT!!!GOING LONG GBPUSD IF MEETS MY ENTRY @ 1.2950 KEY SUPPORT, WILL BE HOLDING IT THROUGH THE WEEK
