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Rising Wedge

EURAUD - Is A Reversal On The Horizon?Analysis: Looking at the chart we're able to see that price recently seemed pretty bullish and due to the news that came out for the USD last week it's had an affect on the AUD and we've since seem some AUD weakness, however we see a potential reversal happening soon. At this of area resistance we marked out we've seen that price has tagged this area before and then made a strong move to the downside so we expect that this will happen again. We also have a bearish chart pattern, a rising wedge pattern. Usually when we see this pattern forming we see sudden weakness and price drops to the downside so this favours our bearish reversal thesis. Fundamentally the EUR is the 2nd strongest major currency, whereas the AUD is the 2nd weakest major currency so this doesn't favour our idea, but this isn't the full picture either. If we look a little further we can see that as of the most recent report on institutional positioning we saw a decrease in long positions on the EUR, signalling more bearishness could be on the horizon. Which favours our idea. We also have a speculation that the EUR will lose its strength that it once had as other currencies become stronger and we're starting to see this happen already. This is why fundamentally we like the look of the AUD over the EUR for now. With the technicals and fundamentals together we are bearish on EURAUD. This is a risky setup as it's going against the trend, however with trading you have to take risk because that is what trading is. The difference is having your risk under control, rather then gambling! 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.
Short
by jpeacockfx
14
BTCUSD → FB before the breakout, waiting for the retest BITSTAMP:BTCUSD is testing strong resistance at 30575, but a false-break of the level tells us that the price is not ready to grow (at the moment). It might form a pullback or flat pattern below the level before rebounding further Globally, we have a bullish trend, the price is getting stronger. The rally is followed by a consolidation and a pullback, after which the cycle repeats again. The price is gradually renewing its highs. Fundamentals are getting stronger amid a surge of activity and some positive investor interest news. The moving averages on the D1 show us a bullish trend, the same is true for the weekly chart. The price forms a range after breaking through 25000. The range boundary is 30285 - 25000. I would not expect in the medium term a decline to 25000, most likely the price may form a consolidation between 30000-28500, after which the price will continue to form resistance retests for a breakout. Support levels: 29800, 28500 Resistance levels: 30575 I expect a consolidation or a technical pullback after a rally. Bitcoin is not highly susceptible to technical analysis, but it is excellent on fundamentals. Fundamental background is more inclined to a positive trend. In the medium term, I expect growth after the breakout of 30575. Sincerely R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
6
BNBUSDT Inexorable drop about to happenInexorable drop event expect while a Bump & Run formation is popping. The correlation on price action and time, as the precedent drop correspondent w/ the Chaikin Money Flow divergence, is so much reliable to me. Price on 1h chart just formed a hidden bearish divergence on CMF in conjunction w/ Awesome bear divergence. Fisher transform is beautifully suggesting direction Whales like to sell retailers confidence. Retest to the neckline accomplished.
Short
by firmestudio
1
Bitcoin - Parabolic phases (1 million USD in 2044) As per my calculations, the price of Bitcoin will be 1 million USD in 2044, which is 21 years ahead. And it's still a pretty optimistic price target, in my opinion. Please do not expect some big parabolic phase to reach 500,000 USD in the next few months or years. This is not going to happen because you are too late for the party. In 2017, the crypto bubble popped, and phase 2 of the parabolic phase ended. 2017 was historically the biggest year for altcoins and bitcoin. Everything went up, including scam coins, and it will never be like this again. Now Bitcoin is in phase 3 / phase 4. Phase 3 is not sustainable because otherwise Bitcoin could hit 100 million USD in 10 years. Just calculate the market cap; it doesn't make any sense. That's why I am sober all the time and focus on realistic price targets. Bitcoin is still a good investment, and you can trade the major cycles. Buy low, sell high. It's easy to say, but it's not that easy for the majority of market participants. If phase 4 of the parabolic cycle breaks, then it's likely for Bitcoin to go sideways for 5–10 years, but in my opinion, it's not going to happen because the trendline of the parallel channel is pretty low, and with the current date, Bitcoin has to drop below 4700 dollars, which is not going to happen. This is a very realistic technical analysis. 1 million USD in 2044 is not impossible, but the majority of retail trade thinks that 1 million should be hit in a few years.  In approx. 2140, all Bitcoins should be mined, and there will be no new BTC mined at all. Miners will receive rewards from the transactions of chain users. 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. Thank you, and for more ideas, hit "Like" and "Follow"!
BITSTAMP:BTCUSD
by UnknownUnicorn2537518
118
Rising wedgeA rising wedge in an up trend is usually considered a reversal pattern. This pattern is at the end of a bullish wave, by creating close price tops, shows us that the supply has intensified and there is a possibility of a trend change. Of course, nothing is certain and if the buyers are more willing and strong, this pattern may be broken in the direction of the market rise. A rising wedge in the middle of a downtrend, is considered a corrective move and is known as a continuing pattern. For example, take a look at the above chart of Ethereum on the weekly time frame
Education
by Dealerify_HUNTER
📈How to Trade: Rising Wedge Pattern?🗣️ The rising wedge pattern is a bearish chart pattern commonly observed at the end of an upward trend in financial markets. It signifies a possible reversal in the trend and is the opposite of the bullish falling wedge pattern, which occurs at the end of a downtrend. Traders interpret the rising wedge as a period of consolidation following a medium to long- term trend, indicating a loss of momentum. This pattern is often used as a signal by traders to initiate short-selling positions or exit their existing positions. 😘 To identify and utilize the rising wedge pattern: 1| Identify an ongoing trend in a specific currency pair or asset. 2| Draw trend lines that connect the highs and lows of the trend, establishing support and resistance levels. 3| Wait for price consolidation and observe the narrowing of the support and resistance lines, forming a rising wedge pattern. 4| Notice how the upper trend line acts as resistance and the lower trend line serves as support, converging towards each other. 5| Once the price breaks below the support line of the rising wedge pattern, consider placing a sell order. 6| Implement a stop-loss order at the same level as the support trend line to manage risk in case of a price reversal. 7| Determine a profit target by considering the distance between the highest and lowest points of the wedge pattern, or by using technical indicators or previous support levels as references. 😘 Key Takeaways: 💥 The rising wedge pattern is a technical chart pattern used to identify potential trend reversals. 💥 It appears as an upward-sloping price chart with two converging trend lines. 💥 Typically, trading volume decreases during the formation of a rising wedge. 💥 The rising wedge pattern is generally regarded as a bearish chart pattern that suggests a possible breakout to the downside. 💥 Wedge patterns can form in either the rising or falling direction. #stocks #trading #tradingview #spy #frogalgo #investment #business #money #funds #stocktrading #stockmarket #foryou
AMEX:SPY
by A1TradingHub
Exact sciences corp Exact Sciences is a biotech stock that is overpriced. It's time to sell We touched 3 times the resistance line of a rising wedge pattern, impulsive wave pattern, and RSI 71 weekly overbought zone, the Q2 doesn't seem good. A leg down to 60$ retesting 69$ which is the resistance line of a rising wedge dropping below 40$ and based on the Q2 announcement either we drop hard to 25$ zone or we bounce back to 0.886 FIb 146$ zone which is a sign of a bearish bat pattern please take note that I'm not a financial advisor
NASDAQ:EXASShort
by MarketPax
3
SPX 500 Analysis(Rising Wedge Pattern)!SPX 500 Analysis on Weekly Timeframe! Rising Wedge Pattern in SPX500 Rising Wedge Pattern Formation after a Strong Downtrend SPX500 was in downtrend before now we are seeing a temporary uptrend but if we observe carefully it is an unstructured uptrend, for trend reversal it has to break 4323.56 level. Now SPX500 has formed a Rising Wedge Pattern. This pattern formation happened after a long down move. Now SPX500 is taking a pause and trading inside a wedge. If SPX500 able to break Support Trendline then the Primary trend will continue which is a Downtrend. I have done all important Analysis on the chart. I hope this will help you to forecast the further direction of SPX500.
SP:SPX
by Avinash9087
Great Bear Flag Will Soon Break"The Bull Market is back!" Say the TV talking heads. But in spite of the tech runup, small caps remain stagnant and 40% of stonks still trade below their 200 DMA. So, the 'bullishness' is limited to the glamour go-go issues. NVDA, MSFT, AAPL, MSFT, AMZN, GOOG META... etc etc all go higher, while the rest languish. That ain't a bull market, it's a Bear Market Rally. And now we go VIX squeezed back down under 16, the flag is nearly unfurled imo. P/C and bear sentiment crushed to lows not seen since Jan 2022. Everyone thinks it's going higher, that's when it rolls over. Double-double top; beware of drop. Y2K meltdown took two years. This one probly be about the same. When you think it's over, think again. Bear ain't over until all hope is lost and greed crushed. Get ready.
TVC:SPXShort
by DaddySawbucks
61
📈How to Trade: Rising Wedge Pattern📌 What is the Rising Wedge Pattern? The rising wedge is a bearish chart pattern found at the end of an upward trend in financial markets. It suggests a potential reversal in the trend. It is the opposite of the bullish falling wedge pattern that occurs at the end of a downtrend. Traders recognize the rising wedge as a consolidation phase after a medium to long-term trend, indicating a decrease in momentum. Traders often use this pattern as a signal to take a short-selling position or exit their current position. 📊 How to Identify and Use the Rising Wedge 🔹 Identify an existing trend in a currency pair. 🔹 Draw support and resistance trend lines along with the highs and lows of the trend. 🔹 Wait for price consolidation and the contraction of the support and resistance lines, forming a rising wedge pattern. 🔹 Observe the upper trend line acting as resistance and the lower trend line acting as support, converging towards each other. 🔹 Place a sell order once the price breaks below the support line of the rising wedge pattern. 🔹 Set a stop-loss order at the same level as the support trend line to manage risk in case the price reverses. 🔹 Consider setting a profit target based on the distance between the highest and lowest points of the wedge pattern or by using a technical indicator or a previous support level as a reference. 💥 Key Takeaways: 🔸 The rising wedge is a technical chart pattern used to identify possible trend reversals. 🔸 The pattern appears as an upward-sloping price chart featuring two converging trendlines. 🔸 It is usually accompanied by decreasing trading volume. 🔸 A rising wedge is often considered a bearish chart pattern that indicates a potential breakout to the downside. 🔸 Wedges can either form in the rising or falling direction. 👤 @QuantVue 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
6
EURUSD ---> rising wedge and a break down possibilityHello everyone, I would like to share my analysis on a chart that depicts a completed rising wedge pattern. The rising wedge is a bearish pattern that often signifies a reversal of the current trend. The pattern is formed by drawing trend lines that converge as the price consolidates within a triangle-like shape. Based on my observation of the current chart, I believe that the price will continue to compress until it reaches the pink area, which represents the liquidity pool. Furthermore, it's worth noting that there have been a lot of stop-loss orders gathered, indicating a potential downward movement. This can be attributed to the fact that traders often set stop-loss orders at key technical levels to minimize their losses in case the trade goes against them. To support my analysis, I have also identified an RSI divergence, which is a technical indicator that measures the strength of a price trend. The RSI divergence suggests that the momentum of the price is slowing down, which supports the possibility of a downward movement. However, it's important to remain vigilant and prepared for a potential break of the bottom line of the rising wedge pattern, which could lead to a different outcome. If the price breaks the bottom line of the pattern, it could signify a continuation of the previous uptrend. I have indicated the target for this short position on the chart, based on my analysis of the historical data. If you're interested in further analysis, I recommend taking a closer look at the historical data that I have included as examples. Thank you for your attention, and I hope that this analysis provides you with useful insights into the current market situation. ________________________________________ always do your research. If you have any questions, you can write them in the comments below, and I will answer them. And please don't forget to support this idea with your likes and comment
by melikatrader94
25
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.
CRYPTOCAP:OTHERS.D
by dudebruhwhoa
1
Bitcoin - Buy exactly here for the long term! (premium solution)Bitcoin is ready to go higher, but this uptrend is starting to be a little bit extended, and we need a correction to 21k. I have been warning you for a long time about a huge crash that is going to happen soon or later. We still have an unfilled CME GAP, and exactly in the GAP we have the 0.618 LOG FIB retracement (15476->33000), which is a good confluence to buy Bitcoin for the long-term and ride your position to a new all-time high! It looks like Bitcoin is going to reach levels around 32k - 33k. I do not expect the last wave to be huge because of the previous waves (1) and (2). We can use the Fibonacci extension tool to measure the expected length of the last wave. Buying Bitcoin at the current or higher price for the long term is not worth it because you can definitely buy it cheaper at 21k later this year. Set up notifications for my ideas so you will be alerted in your email when I publish new analyses immediately! The pitchfork that you can see on the chart is still holding, which is, of course, a good sign for the bulls. But in the event of a breakdown of this pattern, you should be very cautious. I think it's going to trigger a massive selloff. If we take a look back to the bear market in 2021 - 2022, we can see a five-wave structure, which is pretty much undeniable. It can be a triple zigzag or an impulse. My outlook on this idea is bullish, so I marked it as a triple ZigZag. It's probably a complex correction because the last fifth wave looks like an ABC zigzag wave. 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. Above the 32399 level is a high liquidity area, so there is a pretty good chance that the market wants to take all stop-loss orders from traders before the huge ABC correction happens! The 25k level has already been tested, so if you want to still buy here, it's probably not a good idea. Maybe for a short-term bounce, it could be. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
105
Nifty Trade Setup (30-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. So today market was sideways with 60 points movement only. Market for only scalpers not for trend followers it was expected as there was big gap up opening and when there is big gap opening do expect sideways price action. As posted yesterday that from price action on 1 Day TF price is moving in rising wedge and today it opened above both horizontal resistances mentioned on chart. (Unable to post yesterday chart i.e. 29-May-2023 due to basic member) Now as gap opening and positive global markets and positive earnings from major companies. This gap might act as good support zone which become flip zone (Resistance turned to Support) Not Expecting any gap downs but still to need as backup plan i will always try to plan my trade setup based on if price opens flat, gap up or gap down. For tomorrow this will be my trade setup: 1.) If opens flat and will wait for break of the Resistance zone of 60 points which formed today with resistance at 18641 and support at 18580. if it breaks one above then i will look for buying opportunities for target of rising wedge trendline 18670 to 18680. 2.) If opens gap up the will wait to form price action or any rejections from rising wedge trendline for target for todays resistance (18641) 3.) If open gap down and today's support of 18580 becomes resistance then will look for shorting for target of 18560,18510. Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. Also one can comment on how I can make this trade journal better any improvements I need in it :) .
NSE:NIFTY
by TradeInsights