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Upwardwedge

Gold can exit from downward wedge and then continue to riseHello traders, I want share with you my opinion about Gold. If we look at the chart, we can see how the price some time ago entered to upward wedge, where firstly it rebounded from the support line and made a strong upward impulse to the resistance level, which coincided with the seller zone, thereby breaking the 2150 support level. After this movement, Gold turned around and started to decline to the support area, where later it bounced and started to rise. A short time later price exited from the upward wedge and rose to the 2195 resistance level, and soon Gold broke this level and even rose higher than the seller zone. But later price turned around and started to decline in a downward wedge, in which the price broke the resistance level one more time and in a short time declined to support line of the wedge. Also recently price rebounded from this line and started to rise to the resistance line. So, I think Gold can reach the resistance line, after which it rebounds down to the support line and then makes an upward impulse, thereby exiting from the downward wedge. For this reason, I set my target at the 2180 level. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
1
MPC - Still a long way to go to find harmony and balanceMPC (along with all refiners) appear considerably cheap to replacement value. MPC's chart pattern indicates it has placed in an upward sloping wedge formation. PetroChina building refining capacity to the tune of $70,740 per refined barrel. This is above the industry average of $32,800. With these new figures in place, industry replacement value offers a substantial upside. Cash Flow, Share Buy-Backs, Cash Levels are all strong!
NYSE:MPCLong
by The-Trend-is-the-Friend
Downtrend Raising WedgeLooking at the downtrend that started back in February from the all time high, we see an upward wedge in the making and could be breaking soon all depending on the market. This pattern on this downtrend could be a continuation upward wedge since an upward wedge tends to break downward, so there is a probability it could continue downward after breaking the upward wedge going down. The upward wedge also hit resistance at 69 and it is currently going down getting close to the trend line. Breaking that trend line could be a good possibility to enter on a short trade after confirmation of a candle stick. Looking at Ichimoku, pattern still under the cloud, and the cloud act as resistance too.
NASDAQ:PAYX
by gsotolongo
Bearish looking Upward wedgeIf you look at the 1M and 1W, you will see solid resistance and at the 1W you can see kind of like an upward wedge and a red inverted hammer wick. Zoom in a little to 1D and we will see kind of like an upward wedge formation going on, and that it is currently retracing from resistance, but some consolidation here could happen. From here on we will need to wait a few days, perhaps until next week or so to see what will happen next because nothing is guaranteed. I am looking for a nice short entry at the 1H...
NYSE:KMX
by gsotolongo
1