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Rising Wedge

Euro Readying to Resume Lower? Bearish Rising Wedge in FocusThe Euro may be readying to resume its broader downtrend against the US Dollar. EUR/USD appears to be carving out a bearish Rising Wedge since finding a bottom in early March. A breakout to the downside exposes 1.0945, opening the door to extending losses from February. That would place the focus on April 2020 lows, making for key support between 1.0727 - 1.0793. Otherwise, further gains would place the focus on the long-term falling trendline from May 2021. FX_IDC:EURUSD
Short
by QM_Dubrovsky
5
Time to play some UnityHello Friends! It’s been a nice move from the bottom for Unity, congrats to the profit takers. From this point I think there are two ways to play this. Option#1: Looks like a rising wedge will play out to pull back to $93 support before the next move up to $125. Option#2: If it moves up to $108 and pulls back to $105, $125 might be in play. As always thanks for your follows, likes, and comments. Let’s learn and grow together. Cheers! *This information and publication is not meant to be, and do not constitute, financial, investment, trading, or other types of advice. Do your own research.
NYSE:U
by MoneyFishing
1
Btc about to hit smaller double bottom breakout target.I’m sure this chart looks like a mess to most of you but every line currently on the chart is part of a pattern that is currently in play. We can see the smaller double bottom pattern we have been above the neckline of for a few days has a breakout target of 47.7k which it appears we are currently heading to now. In doing so, price action has also hoisted itself above the neckline of another larger double bottom (top green horizontal) and if it can hold support on that neckline the breakout target for the larger double bottom is around 54k! 54k also happens to be the same breakout target zone for the falling wedge(not shown here) that we broke up from back in January or February and had been charting since last December…so its nice to see that sort of bullish confluence. We are also finally seeing price action considerably above our tan rising wedge here which is a good sign especially if we can maintain its top trendline as support. The smaller double bottom’s breakout target of 47.7k takes us right up to the top trendline of our rising channel (in purple) so it would not be unexpected if we see that line maintain resistance at first. I imagine we may send a wick above it to test the 200ma and initially see a rejection that sends price action back down to retest the larger double bottoms neckline for support, at which time I’m guessing the bigger dbl bttm’s neckline will hold support and once it confirms its breakout is when we will finally break above the purple rising channel as well as the 200ma (in blue). We shall see though because we always have to anticipate an unexpected black swan event could send us 180 degrees the opposite way as well. For nw though, the charts are lookin super bullish. *not financial advice*
BITSTAMP:BTCUSDLong
by DrDovetail
2
GBPJPY - Loss of Momentum Into StructureLast week we looked at this same pair & I was waiting for a double top to form as price broke into a previous level of structure resistance from the daily/weekly timeframe (Brexit Zone). Well we never got our double top (which brings up another valuable lesson about why we have RULES for patterns & the importance of following them), but the general prediction still holds true. Looking at current price movement along with the slope of the previous upward trend, it should be clear that we are losing momentum as we push deeper into resistance. Because of this I would expect some sort of relief to come as the buying pressure starts to lesson and new sellers begin to enter the market. Currently there are no signs of reversal as far as trade entry go, but this pair will once again be high on my watchlist for the week ahead. I hope you guys enjoyed the breakdown! If so please do me a favor and hit that like button to show your support. Also feel free to leave me any questions or comments that you may have about the pair or my analysis. Wishing you a GREAT week of trading! Akil *Note - I thought I shared my idea for this pair on tradingview last week, but apparently it was in the Live Stream from March 23rd 2022
Short
by Akil_Stokes
2
Rising wedge and is time for BTC to dump!!!We have this nice rising wedge on btc. We have one small fakeout with purpose to trap the bulls and confirmation of that is low volume. I entered my short position at 44.5k because of the daily resistance and i am planing to add more money into the position, if we close 4 hourly back into the rising wadge. This fakeouts most of the time means fest moves to the downside with big volume from the bears. I hope my bulls are not disappointed with my statement but this is how the market is reacting at the moment. What do you think about this Rising wedge ? Feel free to leave a comment. If you like my ideas please follow me and like the post because i am posting every day and you can find always something interesting on my profile, i am new to Treadingview but i have 6 years expirience in trading. BTC TO THE MOON!!!
Short
by Mladen94
1
SPY Continued Downside - Hidden DivergenceChart Even t: Bearish Divergences on multiple timeframes. Rising wedge pattern on 65m and lower timeframes. Confluence : Bearish Divergence on 65m timeframe. Hidden Bearish Divergence on daily timeframe. Rising Wedge pattern (bearish) on 65m and lower timeframes. MACD very wide. Volume decreasing. Death Cross moving average event occurred a few days ago. Price action is nearing old resistance levels along with the 61.8% Fibonacci Retracement level. RSI overbought on 65m timeframe. Trade Idea : Put Swings Contract Suggestions (depending on Monday's open) : Best: 4/8/22 450P Riskier 4/6/22 450P Riskiest 4/1/22 450P I will likely buy both the 4/8 and the 4/1 contracts, heavily weighted to the 4/8 contracts to allow this time for this move to play out.
AMEX:SPYShort
by cloud9futures
3
BTC - DAILY - RISING WEDGE IN PROGRESS !As mentioned in my yesterday's analysis,(RSI bearish divergence), the successful breakout of the former high @ 43'492 triggered further upside move towards, as expected, a high so far above the 45'000 area, with an intraday high so far 45'137. We can see on this DAILY chart to different patterns : 1) A BROAD TRIANGLE PATTERN (currently attempting to breakout to the upside) 2) A RISING WEDGE FORMATION IN PROGRESS (potentially warning bearish signal !) What does it mean ? Well, today's closing level will may be bring more clues about the future development as the 44'800-45'000 area should be seen as an important zone to break at it represents on one hand, the downtrend line resistance of the triangle pattern previously mentioned and on the other hand the top of the rising wedge pattern in progress. Therefore, a failure to successfully breakout the 45'000 area would put again a renewed selling pressure with 42'600 as first support level, ahead of 41'250 and 40'671, the latter level being the MID BOLLINGER BAND. ON THE UPSIDE, the weekly MBB @ 45'408 will be the first resistance level to look at ahead of the top of the weekly clouds, currently @ 45'937. GLOBALLY ON A WEEKLY PICTURE, WE ARE NOT OUT OF THE WOODS YET, THE KIJUN-SEN STILL IN RESISTANCE ! IRONMAN8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848