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Wedgebreakout

PAR: BREAK OUT WATCHPAR: NEWS: PAR Government Systems Corporation , a wholly-owned subsidiary of PAR Technology Corporation (NYSE: PAR), today announced that it has been awarded a $490,400,000 ceiling, single award, indefinite-delivery/indefinite-quantity contract with cost-plus-fixed-fee completion and firm-fixed-price type orders for Counter-small Unmanned Aircraft System software, hardware, and technical documentation. This is the largest single contract award in PAR’s history. TECHNICALS: The price has been in a range for a few months, forming a kind of giant wedge (if you consider the lower grey line) or descending triangle (if you consider the blue line at 61). We have a strong support at 61. I'm looking for a break above the 1st resistance (grey line) and will most probably enter a long swing position once we break out. Let's see! All the targets/levels are on the chart (blue lines). Trade safe!
NYSE:PARLong
by Elpidaldo
MANAUSD Descending WedgeA descending trend line since the ATH yesterday is visible on the hourly chart with multiple spikes occurring due to pump and dumps and/or covering of short positions (though I have not done enough research on short interest on MANA - likely bag holders are exiting positions with each new spike). $2.557 seems to be a crucial price of supply meets demand since October 30. Combine this price with the aforementioned descending trend line we see a descending wedge forming. I anticipate a breakout from this pattern in the next few hours. A breakout down might imply further sell off to $2.1533, then further to $1.69. This collapse may be interrupted by the larger, bullish trend (which, from my interpretation, began on October 28). On the other hand, a breakout up may be met with supply/resistance at $3.43, from where a parallel channel may form (with $2.557 being support/demand zone) until the next large influx or efflux of volume. A breakout above $3.43 may imply further price movement toward $3.887, then potentially a retest of the ATH ($4.99). The price targets I provide are my own anecdotal opinions and I observe them making room for error. Regardless, volume is dying. The hype is waning. MANA volatility may wane similarly to other meme assets such as DOGE and GME. The purpose of this post is so future me learns from what I theoretically predict and what actually occurs.
COINBASE:MANAUSD
by SKIE_Watching
SHIBA pressure building into wedgeSHIBA INU, relatively new coin and "meme coin" has potential to break out of this wedge and range it has been stuck in for some time. With BTC and ETH starting to run, I think the altcoins and bigger named small cap coins will begin to run as well, from FOMO, meme potential, and just more and more people entering the crypto space. I will be entering with a small position at this level, waiting for the break of the trendline and the 618 fib level. Targets: 1) 0.000035, the previous high -> around 25% 2) the 1.272 fib around 0.000039 -> around 40% 3) 1.618 fib at 0.000044 -> around 55-60%
FTX:SHIBUSDLong
by GRInvests
4
USDCNY Likely to Rebound From the 23.6% Fibonacci The price action of the USDCNY pair has been range-trading since the 16th of July, as underpinned by the ADX indicator. Bearish pressure has been slowly accumulating over the same period, which is illustrated by the current reading of the Stochastic RSI indicator. The price action is likely to reach a new dip at the 23.6 per cent Fibonacci retracement level, which is the closest psychologically significant support level. A bullish rebound can be expected to occur there, given the current development of a Descending Wedge pattern. The latter represents a classic trend reversal pattern. The first major target for the renewed uptrend would be the descending trend line (in red) just above the 38.2 per cent Fibonacci.
Long
by Trendsharks
Smooth Love Potion (SLP), low is set and looking for +500%After its initial launch on Binance SLP has been regularly dropping for weeks. - has reached oversold on several timeframes - has reached new all time low - just broke out from huge descending wedge with big volume - Price and Volume are showing big bullish divergence target of the next price action is top of descending wedge, more than x6 of current price. May take some weeks to be reached. this post is for educational purposes and not trading advice. do your own research.
Long
by And100
2