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Rising Wedge

Rising Wedge pattern updateI am reposting this idea as I have updated and placed a mid-range resistance for the wedge . $BTC idea : Another idea for BTC could be that we are created a pattern of a rising wedge on the weekly TF . Rising wedges usually breakdown to the downside . Moreover , if it plays out like this we could be having another bounce retesting the previous ATH and then breakdown . But as mentioned before market is variable and changes . So we could just be falling from here further to the downside without going higher . Which in my opinion , I would be expecting another pump before finally crashing the market , as whales could be looking for more liquidity or placing more shorts . Apr 6 As we got rejected on the mid-range I believe that we could be revisiting the bottom of the rising wedge .
BITFINEX:BTCUSD
by Trader_Sentinel
What is Rising Wedge pattern and how to trade with that?The Rising Wedge (also known as the ascending wedge) pattern is a powerful consolidation price pattern formed when price is bound between two rising trend lines. It is considered a bearish chart formation which can indicate both reversal and continuation patterns – depending on location and trend bias. Regardless of where the rising wedge appears, traders should always maintain the guideline that this pattern is inherently bearish in nature (see image). HOW TO IDENTIFY A RISING WEDGE PATTERN ON CHARTS The rising wedge pattern is interpreted as both a bearish continuation and bearish reversal pattern which gives rise to some confusion in the identification of the pattern. Both scenarios contain a different set of observation dynamics which must be taken into consideration. Reversal Pattern: Established uptrend Rising wedge consolidation formation Linking higher highs and higher lows using a trend line assembling towards a narrowing point Look for break below support for short entry Continuation Pattern: Established downtrend Rising wedge consolidation formation Linking higher highs and higher lows using a trend line assembling towards a narrowing point Look for break below support for short entry How to trade with this: *Entry Point: Right after the candlestick breakout of the support. *Stop-Loss: At the highest resistance level of the Wedge pattern. *Take-Profit: From the entry point, the distance is equal to the maximum width ( H ) of the rising wedge pattern. This is the academic shape of this pattern, in the future we will publish Falling Wedge pattern 📚 . Please follow our page to be informed as soon as the materials are published. Thank you all for supporting our activity with Likes 👍 and Comments ❤️
Education
by NamchaTa
4
TOMO's support and expected movementsTOMO was in a Rising Wedge Pattern & Recently the Bearish Break out Has happened. It is a Normal Movement For This Situation Cause It is Expected The Price Reach the Bottom of The Pattern.It's Gonna Touch the First Support For Now!(1.1$) If it fails To Hold the Support, We can Expect The Price to fall to the Second support as well!(0.92$) _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Thank you for seeing idea . Have a nice day and Good luck
T
by CobraVanguard
13
ETH: DOES NOT LOOK GOOD! BEST ENTRY?? Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this ETH/USDT update. ETH is not looking good in LTF. ETH is breaking down from the rising wedge pattern which is a bearish pattern. Also, a retest is done. I'm expecting more dump in ETH and Alts. ETH has two important support levels one is around $3000. If ETH does not hold $3k support then the next support is at $2800 So I'm buying ETH in two parts. Put your first order around $3000 and the second one is at $2800. In the long term, I'm bullish on ETH and expecting $5k in the next 1-2 months. This dump gives you the best entries for long in many Alts. All we have to do is just wait for the right time. Invalidation level:- If ETH breaks $3300 also there is 100ma then this pattern becomes invalid. What do you think about this? Do you think we get a bounce from here or do we have to see more dump? Share your views in the comment section. Thank You!
Short
by CoreCrypto1
4
Rising Wedge pattern$BTC idea : Another idea for BTC could be that we are created a pattern of a rising wedge on the weekly TF . Rising wedges usually breakdown to the downside . Moreover , if it plays out like this we could be having another bounce retesting the previous ATH and then breakdown . But as mentioned before market is variable and changes . So we could just be falling from here further to the downside without going higher . Which in my opinion , I would be expecting another pump before finally crashing the market , as whales could be looking for more liquidity or placing more shorts .
BITFINEX:BTCUSD
by Trader_Sentinel
EURGBP bearish scenario:EURGBP runs lower yesterday. The EURGBP is following the EURUSD's move and in the process has shifted the bias back to the downside. Investors remain worried that the European economy, which relies heavily on Russia to meet its energy needs, will suffer the most from the spillover effect of the Ukraine crisis. But Bank of England had softened its language on the need for further interest rate hikes should act as a headwind for the British pound and help limit losses for the EUR/GBP cross. In this pair, technical analysis shows a technical figure Rising Wedge. The Rising Wedge broke through the support line on 06/04/2022. EUR/GBP is forming a bearish formation on a daily chart. If the price holds below this level, we will have a possible bearish price movement with a forecast for the next 11 days with a target of 0.82025. According to the experts, your stop loss should be around 0.08513 if you enter this position. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Short
by legacyFXofficial
GJ shortGBP/JPY has created a rising wedge, this typically signifies a drop in price. There is a saying that a rising wedge is falling and a falling wedge is rising. Meaning no matter what the type (reversal or continuation) a rising wedge is bearish and a falling wedge is bullish. Currently the pattern has not yet fully formed, waiting for candles to get smaller with longer wicks into the wedge a bit more. I'm thinking the drop will happen when the tokyo session opens up at 7pm CT. Could drop before that so keep an eye out! TRADE WITH CAUTION.
by Sevsky0