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Possible Rising Wedgefrom first hours of this last move up to 8800 i was skeptic. even though i traded this move but i got out of market yesterday by parking on USD. i just thought that this move to 8800 more and more is getting similar to wave 5 on wave principle (elliot wave theory) and now by forming a possible Rising wedge it is going to be a very one actually. So If we see a dump to the upward support line of rising wedge, the relative high (swing high at 8800) will be confirmed and considering that: we would have a perfect rising wedge. Happy shorting that after breakout.
BITSTAMP:BTCUSDShort
by farzinsabbagh
ETHUSD inside a bearish rising wedge on the weekly chartThis wedge doesn't have an apex until August but odds are good we will see a break from the wedge much sooner than that...here I have picked a rough estimate area of where I think the priceaction will break out of the wedge and have put both a bearish breakdown projection as well as a bullish one. Although probability should favor a bearish breakdown to occur. its always wise to factor in the opposite outcome which is what I've done here. Should it break down bearishly however odds are good that in doing so it will only form a higher low to follow up the recent higher high on the daily and if we could then follow that higher low up with one more consecutive higher high I would be confident that we were finally entering the bull market.
BITSTAMP:ETHUSDShort
by DrDovetail
Rising flag - pennantFlags and Pennants Pattern We will now analyse the flags and Pennants Pattern, two other Patterns of the technical analysis. Flags and Pennants are short-term continuation patterns ; are among the most reliable Patterns and they represent “short breaks” (not longer than 20 sessions) during a Trend, before the Trend continues to go in the initial direction. Let’s analyze them point by point. Remember, that in order to understand better the Patterns of the technical analysis, you should know how the Trend Lines and Resistances/Supports work (For this reason we suggest you to read: What is a Trend and what are Trend Lines; Resistance and Supports). Features of Flags and Pennants Pattern – When they occur: both Patterns occur during a strong Uptrend or strong Downtrend, that have high volumes of exchanges. – What are: The Pennants are similar to the Pattern of the symmetrical Triangle, but they have a shorter duration and they are smaller (They are also similar to another Pattern, The wedge). The Flags are similar to the Pattern of the rectangle, but they have a shorter duration and they are smaller. – In Flags, prices are contained between two parallel lines. – In Pennants, prices are contained between two convergent lines. – Duration: both figures, can last from 1 to 12 weeks and should normally last from 1 to 4 weeks (if they are over 12 weeks, a Pennant would be classified as a symmetrical triangle while a Flag as a rectangle). If they last between 8-12 weeks, their reliability as Patterns is less. – Volumes: High during the Trend that precedes these Patterns; Decreasing and Low, during the formation of these Patterns. Then, rising in the Breakout point (When the Prices go out the Pattern). – Breakout: although they are usually continuation patterns, it’s always better to wait for the Breakout from one side of the Patterns to be sure whether there will be a rise or a decline. Finding other confirmations (From oscillators or of Candlestick Patterns), and even a Pullback it would be better (There is a Pullback when the Prices return to the line that they have just cutted, then bounce on the line and come back to continue in their initial direction). – Minimum Target Price: you have to measure the width of the Pattern, and project it from the point of Breakout upward or downward (depending on whether prices have gone out from the Pattern with a rise or a decline).
BITFINEX:BTCUSDEducation
by IgorPorokh
8
EURJPY Rising WedgeThe rising wedge we see on the 1hr chart EURJPY looks very solid, descending volume represents lower interest in pushing the price up. The take profit is calculated on the save side by the "rules" of a wedge that the opening is the profit after breakout, I'm keeping a wider stop since I've seen many wedges that been published by me here getting stopped and then showing to be a very valid good profitable wedge. These you can look back at yourself for education purposes. Thanks for reading my analysis and I hope you like it! Wesley
Short
by W4DL
AUDNZD Rising Wedge breakoutI've been looking at this wedge last week and thought it would take longer to break so waited before posting. Now it looks like it's already making an attempt to break the resistance of the wedge. Trading it directly as shown on the chart. Good risk reward ratio and tight stop in case of a false breakout. Looks very bullish at the lower timeframe so this is a good moment to go long. Thanks for reading, I hope you like my view. Feedback is welcome. Wesley
Long
by W4DL
NZDJPY Rising Wedge On the 1hour chart I'm looking at a rising wedge that gives us a short opportunity. When zooming out a bit it's a very clear picture of a longer downtrend that conforms a short fits in. To trade this I'm going to enter as shown with a great RR of 3.58 (yes, including premature entering instead of breakout). I've chosen for this approach because I probably won't be looking at the chart at breakout. The tight stop will cut the losses pretty quick if things don't workout but still higher than the previous high. To everyone noticing that this wedge has a possibility for a bigger drop. That's right! But because the long term downtrend is not at this level but a bit higher my thoughts are there could pop up some buyers we want to be in front. Thanks for reading this analysis and hope you traders have a great trading week ahead. I would appreciate a like or a follow if you like my view. Wesley
Short
by W4DL
Make American stock market rise again Something is moving American index are still in this uptrend that we have exploited in past sessions by positioning ourselves on a long trade. So far, the SP500 price is reaching its resistance area around 2820 points: from here it is very likely that an important retracement can start if the price does not breach this key level and confirm its breakdown. Toward the highest (?) If the static resistance does not yield, SP500 will try to retest the dynamic support identified by the EMA20 on weekly periods, passing around the area near the 2715 points; if the rise in the indexes should continue, the target that SP500 will point will be in the 2936 area, toward the highest historical price. In any case we will wait to reach the 2820 points before entering the market.
SP:SPXLong
by BFCMInvest