Get started

Rising Wedge

VET/USDThis is a longterm analysis of a possible 3 year outlook for VET/USD using the 1 week chart. Here is a closer look at this VET/USD 1 week Chart. On this 1 week timeframe, VET has been back above its Least Squares Moving Average (LSMA) since the week of 7th March 2022. Note that a weekly close ABOVE the LSMA is considered a BUY SIGNAL for this indicator. VET is also back ABOVE its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 week timeframe. Note that the Upper and Lower Bands are still contracting indicating VET still has plenty of room to move up or down before expansion kicks in and it becomes over extended on this 1 week timeframe. VET is Back ABOVE its 100MA (Red Line) but still BELOW its 50MA (Blue Line) on this 1 week timeframe. VET is in a massive Rising Wedge Pattern, the APEX of which is around the week of 5th - 12th May 2025 and is at around $8.8 as indicated by the Rising Converging Blue Lines. VET is also in a Triangle Pattern as indicated by the Converging Black Dotted Lines. Looking at the Trend-Based Fib Extension we can see that at the moment, VET has found some resistance from its 0.236 level at $0.0876. Note that the Fib Levels are based on Log Scale. VET closed the last weekly Volume Bar ABOVE its Volume 20 Period MA, in the Green and this weekly Volume Bar will also close ABOVE its Volume MA. VET is above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 3 Weekly Candle that i have selected. Looking at the Moving Average Convergence Divergence (MACD), we can see that we have a BUY SIGNAL on this indicator for this 1 week timeframe because the MACD Line (Blue Line) has crosses back ABOVE the SIGNAL Line (Orange Line) creating a new Green Histogram. This is the first new BUY SIGNAL since the week of 25th Oct 2021 and it’s the first new Green Histogram since 22nd Nov 2022. Note that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line, so the next key thing will be when the MACD Line (Blue Line) crosses back over and ABOVE the 0.0 Base Line into the Positive Zone. Looking at the Relative Strength Index (RSI) for this 1 week timeframe, we can see that Momentum is upwards at the moment and the RSI (Purple Line) is back above its 9 Period EMA (Orange Line) and indicating upwards momentum strength. Note that the RSI (Purple Line) has plenty of room to move up before entering the Overbought Zone which is above 70 on this 1 week timeframe. Looking at the Average Directional Index (ADX DI) we can see that the Trend Strength is still weak with the ADX (Orange Line) at 14.51 under the 20 Threshold and under its 9 Period EMA (Black Line). Positive Momentum has increased with the +DI (Green Line) rising to 25.101 and ABOVE its -DI (Red Line) which is at 19.21. A very good sign on this 1 week timeframe will be if we continue to see the +DI (Green Line) expand further away from the -DI (Red Line) as well as the ADX (Orange Line) crossing back ABOVE its 9 Period EMA (Black Line) and AOVE 20 Threshold. With such a large rise on the Daily, we shouldn't be surprised if VET re-traces back to its LSMA or even its Bollinger Bands Middle Band Basis 20 Period SMA on the 1 day timeframe. Here is a look at the 1 day chart so you can see the Expansion of the Bollinger Bands. Note that VET found support today from its LSMA Level on the 1 day chart. Obviously a lot can happen and change in 3 years with the Crypto Market, VET can easily break ABOVE or BELOW and CLOSE a Weekly Candle ABOVE or BELOW the Rising Wedge Pattern's Trend Lines to invalidate it way before it ever gets to the APEX. The first crucial step for VET will be CLOSE a weekly Candle ABOVE its 0.236 Trend-Based Fib Level at 0.0876 and if needs be, to successfully re-test that level as strong support. Key things to look out for the potential start off on this VET/USD longterm 1 week timeframe in no particular order: For the Positive Side: 1: A successful close ABOVE the 0.236 Trend-Based Fib Extension level. 2: Expansion of the Upper and Lower Bollinger Bands while the Price is above the Upper Band. 3: A successful Weekly Close ABOVE the 50MA, 4: The BB Middle Band 20 Period SMA crossing back ABOVE the 50MA 5: The 100MA crossing back ABOVE the 50MA 6: The MACD Line (Blue Line) crossing back above the 0.0 Base Line into the Positive Zone 7: The ADX Line (Orange Line) crossing back ABOVE the 20 Threshold and its 9 Period EMA (Black Line). 8: A Weekly close ABOVE the Ascending Upper Blue Trend-line of the Rising Wedge Pattern. 9: A Weekly Close ABOVE the Upper Triangle Pattern Trend-line. 10: A successful close ABOVE the 50MA. For the Negative Side: 1: A successful close BELOW the 0.236 Trend-Based Fib Extension level. 2: A drop back UNDER the BB Middle Band Basis 20 Period SMA. 3: A Weekly Close back UNDER the 100MA, 4: A weekly Close back UNDER the LMA. 5: The 100MA crossing back ABOVE the 50MA 6: The MACD Line (Blue Line) crossing back UNDER the SIGNAL LINE (Orange Line) 7: The +DI (Green Line) crossing back UNDER the -DI (Red Line). 8: A Weekly close BELOW the Ascending Bottom Blue Trend-line of the Rising Wedge Pattern. 9: A Weekly Close BELOW the Lower Triangle Pattern Trend-line. 10: The RSI (Purple Line) crossing back UNDER its 9 Period EMA (Orange Line) I’m sure I’ve missed a few things but that’s probably enough of me rambling on. I hope this post is helpful with your Trading, Hodl-ing or DCA-ing.
BINANCE:VETUSD
by TradingThroughTheLens
10
Price action analysis - ASIANPAINTNSE:ASIANPAINT had a good run up until recently and now it seems to have been topped out. In Weekly chart, rising wedge structure is formed and volume has declined with it. It suggests that buyers are losing the grip and sudden fall to 2625 with heavy volume confirms the reversal. Buyers stepped in from 2625 level and took the price higher but subsequent price action suggests that they have been exhausted and seem to be losing control. If price couldn't hold above 3100 level then it's going back to 2645. If it can't hold that one then it will go further down to 2275. Let's see what happens.
NSE:ASIANPAINTShort
by PriceActionTrader1
ETH supports that will be more likely touched.Ethereum was in a Rising wedge pattern and we would have expected the fall of ETH to happen pretty soon. Well right now the break out has already happened and a heavy bearish movement has already accurded. 1000$ is a pretty important support and if it's lost,well there will be no hope of turning back for bulls. Afterward we shall expected the price to reach 750$ and if that's also lost as well,500$ is the next support. -ETH was in Rising wedge pattern. -The fall of Ethereum was already expected to happen. -1000$ is a very important support.if it's lost , all hope for bulls are gone. -750 & 500 are the next support points. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Thank you for seeing idea . Have a nice day and Good luck
COINBASE:ETHUSD
by CobraVanguard
7
Is $XLE making a bearish ascending wedge?It seems like the Energy sector ETF $XLE is making an ascending bearish wedge. It's showing lots of resistance around the $82.9 area and hasn't be able to close above it for the past ~2weeks. I wouldn't be surprised if it has a fake breakout to the upside before eventually falling back inside the wedge. Keep an eye out for a break to the down side as the measured objective would be around the $64.7 area. I'm neutral for the time being but keeping a close eye on this for a bearish reversal.
AMEX:XLE
by HaseebKhan_90
8
XTZ is in a Rising Wedge...what will Happen?XTZ is in a Rising Wedge Pattern. This is Of course a bearish Pattern which means we Should Expect the Price to Reach Lower Levels Even From Now! The Price can Decrease and It Should be Clear To you That No Break Out Has Happened yet So It is not Safe to Take Short Position (For Now!) There is also a Regular Bullish Divergence (-RD) on MACD which Strengthen The Idea Of Tezos Being Bearish! The Expected Target and Support Point Right now Is around 1.600$ -XTZ is in a Rising Wedge Pattern -No break out yet -(-RD) on MACD -Expected Price and Support Point 1.6$ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Thank you for seeing idea . Have a nice day and Good luck
Short
by CobraVanguard
9
Thoughts on EURUSD (Bearish possibilities)Hello again! I have this deep analysis on EURUSD on 2 possibilities to go short based in my analysis on trend analysis, chartism and mostly harmonic patterns. I'll explain the 2 scenarios I have and take notes for it to be possible. Possibily 1: Last week an ideal bullish AB=CD pattern with 0.618 : 1.618 ratios was formed and if it still goes up it could complete a shark pattern entry 2 that coincides with the ending if an AB=CD pattern with ratios 0.382 : 2.24 is also formed. The zone is by itself really harmonic, but we have to wait carefully and I'm expecting it to react at 1.08210. Although is looks like a really good zone to sell, there are 2 ways that this analysis could be invalidated (either the price falls under previous low formed or it is not formed until june 8th). Anything is posible in the market, so I recommend to watch out that zone in blue. Possibility 2: Remember that I shared a bearish idea because of a rising wedge and it has hit TP1, but because it hasn't gone up, it's still valid and that's possibility number 2. If the price falls under previous low (invalidating possibility 2), we can expect the price to retest at 1.0705 and go to the final TP on the rising wedge. I recommend you to wait for candlesticks confirmation and then sell. Now if it goes up and consolidates between and nothing interestingly happens, then discard both possibilities, I'll update if necessary. Do you have any other ideas? Let me know on the comments.
Short
by pinoso
1
The huge rising wedgeBitcoin is currently on an important support area, which includes important support levels, including the monthly Camarilla Pivot overlap and the yellow static support that has repeatedly supported the price. Also, the top lines with the bulky part of the profile volume indicator are almost at the same price. This shows how reliable the 29 and 30 range are I envisage the price for two scenarios. If the price moves upwards, the most serious resistance in front of it is 34800, which if it fails to break, it can bring the price to at least 30,000. The second scenario, if the significant range of 30,000 can not support the price, the next bitcoin station is 23,600. Because the monthly candlestick did not close well, I consider the second scenario more likely.
by amoo_khashi
GBPJPY | Perspective for the new week The GBP/JPY pair witnessed selling pressure around 160 area in the last one week as profit-booking happens. From a technical perspective, I am of the opinion that there are two possible scenarios lining up for us going into the new week as a breakout/retest of either the resistance or support trendline identified on the 4H time frame could send the price in the direction of the breakout or breakdown. However, it is also appropriate we put into consideration that the BOE is expected to announce a bumper rate hike in its June monetary policy which might have a significant impact on price movement. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
4
AUDJPY | Perspective for the new weekConsidering the long term bullish momentum on this pair, I want to be looking out for buying opportunities in the new week as a breakout/retest of the Key level at 91.000 area shall be a signal for me to buy the Aussie. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
A bearish week Hi everyone this how i see the eurusd this week ... First of all last week we had a break of structure ... So most likely we are going up , but i have a few reasons that make me think the other way ... 1-the price is reaching a sell area . 2-the price is forming a wedge pattern . 3- the price did not retest the area that broke the structure . 4- i think the bulles are a bit tired 😝 so thay need to have a break before pushing the price up . The other scanrio is the price break the pattern to the upside , but i think we will have a bearish week . If you like the idea give it a thumbs up 😜👍🏻. Trade safely 🤍
Short
by Abu_Hamdan
BTC Short correcting myself using Vix cheat sheetHi In this published idea I'd like to show you the correction to my previous update that said long Bitcoin. With this update you can see a much better picture of the Vix cheat sheet custom script indicator. You can use this by going to the custom script indicator then clicking Vix cheat sheet. As you can see it says for the next weekly candle we could experience another 1% loss. It says that we could experience another 19% loss overall going through 5 more weekly candles. However it also shows going through 10 more weekly candles we could experience a 45% gain. I was hoping for a wick to the upside which we did experience today but I was hoping it would be better than it was. You see the other night I switched my busd for BNB. At the price of 324.44 per BNB. At the time I was heavily impressed by some Bitcoin maximalists who would always say to buy during the fearful period. I made quite a big move into BNB and with the small video wick to the upside today with Bitcoin the price of BNB did go back up to 315. I believe I should of sold my BNB at a loss today but I had just gone for an infusion at the hospital for my Crohn's disease and I missed the chance to sell at a loss. Now BNB is back down to 300 and I am in fear because I do believe this fixed cheat sheet indicator is very good and it does tell we are in store for a 20% drop in bitcoin price. That would mean BNB would drop to $280 or worse and frankly that scares me because I don't have time to wait for 10 more weekly candles to get out of my position in BNB. The reason I made that trade from busd into BNB is because I was hoping for a quick gain that I could sell to have more profit to buy into Rex the new price appreciation plus high APY staking token launching soon on Binance Smart chain. It's been in development for over a year. They are doing a lot of security tests and audits so that they won't be susceptible to flash loan attacks or mev bots or worse. I had made some good gains over the past six months by playing with tokens through pancakeswap. I turned 8k into 30k. For me that was very good for the financial health of my family's savings. However I did make the wrong choice by changing busd for BNB and unfortunately now I do not know when to exit and take a loss or wait for things to get better. I hope over time we would see another small wick or hopefully a larger wick to the upside with Bitcoin. Maybe another upside to 30,500 or higher before going down to 26,000. I would be able to sell the BNB into a stable coin again and NEVER make a mistake with big money again. Frankly I am tired of playing with cryptocurrency. Two years ago I was not looking at charts daily and wasnt so concerned with cryptocurrency. Things were good with Hex coin at the time. I was staying humble and feeling blessed. Thinking I would sell the Hex for good money. Unfortunately I was locked into a stake where I couldn't sell because it wasn't over the sixth month halfway point and I would actually lose the whole thing so there was no way to take it out. I had $850,000 in Hex and I was feeling blessed and happy. Over the years I'd like to say that I am still a fan of cryptocurrency however I definitely know more about how financial markets work and I would love to join trading in the stock market. I am only good at researching and analysling markets at less volatile times. I should have stayed away in this impending bear market and I got over compulsive and made that play into BNB. Well here's hoping for the best. And best wishes to all. Bless you and stay positive. Things will be ok. I've always been a fan of making money on the internet. I would really love to just stay away from cryptocurrency all together and focus my attention on making money on the internet again. I always had a knack for finding ways to make money on the internet. Whether it be affiliate marketing or e-commerce. However in the last 5 to 8 years for me I couldn't get that stranglehold on entrepreneurial money that I once had. Unfortunately in my younger days as I tried to save the money I again got over compulsive and went into some bad trades losing millions of dollars. I just wish I could find good ways to make money on the internet again. I love researching and analyzing new strategies.i just wish they would work. In the meantime I'll be looking for a career where I can be a productive member of society. I yearn for the opportunity to feel productive again and to feel accomplished. I lack that so bad in my life. From now on I will be focusing all of my attention on internet affiliate marketing and entrepreneurial ways to make money aside from cryptocurrency. However I will be looking at ways to become a developer of software or defi. I'm not the type of person who would want to make a cryptocurrency only for it to become unsustainable. I tend to shy away from trying to create scams and things of that nature. That is not the type of person I am. The world has been quite vicious to everyone I might add though. Best wishes to all. If anyone here is a developer or interested in marketing and you would like to work together please contact me. I am very good at marketing when there is an actual product to market. I'm good at making sales through channels of platforms. When I have an actual product or service to sell. And for now I will be looking for services or products to create and sell. Or find and sell. Feel free to contact me if you'd like to work together. Here's hoping for the best in these tough times.
Short
by SolanaMemeCoins
A Rising Wedge in the XLE is setting up a shortXLE looks like its forming a nice Rising Wedge on the daily chart. The bad news is we're heading into the Summer which usually leads to higher demand, and Rising Wedges aren't particularly good performers from a statistical standpoint. The good news is that they do offer about 2:1 odds of a reversal once the Wedge breaks. In addition, the momentum indicators are displaying significant bearish divergences, and regardless of seasonality, the macro picture is suggesting global slowing of demand for energy. Therefore, the sum of the evidence makes this look like a good short candidate for a swing trade. Where it gets a little more tricky is deciding how to get short. As mentioned above, there's about a 2/3 chance of a reversal. The problem is that historically speaking, the average moves of the reversals (-8%) aren't much to get excited about. Over the next 30 days, the Options market is anticipating about +/ $8.84 of movement. This aligns nicely with the idea of a breakdown from the wedge, which could take price down to the Point Of Control on the Volume Profile aruond $76. All things considered, I like the idea of trading this with a defined risk position like a vertical spread. Something like buying the $80 PUT and selling the $78 in the July 1st expiration. This is trading for about a $0.51 debit and would mature to somewhere north of $1.00 if XLE falls to $76 over the next 37 days. Thanks for reading; all the standard risk disclaimers apply .
AMEX:XLEShort
by InnerMotionTrading
1