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Wedgebreakout

🍣 CHZ Wait For Breakout And RetestCHZ has been in a descending wedge for around 3 weeks now following a large breakout. Wait for a breakout of the descending wedge and make sure it finds support on the Fibonacci line before confirming the breakout. From there, we can expect a bullish run for CHZ following news in April about gaming releases and other positive news. Entry: ~0.565 Stop loss: ~0.51 (Make sure to see ATR at that point of time) Take profit zone 1: ~0.672 Take profit zone 2: ~0.878 (or hodl)
Long
by RainyTrader
6
Waiting for a buy on CHFJPYThough price hasn't gotten into my level, might probably miss this trade because markets already showing a bullish signal but I can't enter the trade until it meets my criterias. But if you can withstand huge drawdowns or you want to confirm my analysis with yours, I'd drop my confluence below. *Market is in an Uptrend. *Falling wedge(Bullish signal). *Rested of the breakout(healthy chart pattern). And the last confluence would be the entry reason. Feel free to criticize my analysis, we are all learners. 'Do not blindly buy CHFJPY based on my confluences and do not enter the trade if my analysis is against yours.'
Long
by T-B-X
2
Big Move Coming For ADA (Cardano)ADA has been retesting the critical $1.185 level for a while and as the triangle (signified by the while line) narrows, we can see that this downtrend will either sharply reverse or break down to the 0.618 fib. A breakout upwards would mean that buyers are back in control, and a sharp break could even bring us back up to the 0.236 fib, or the top of the supply zone at $1.31. However a break down would be unfavorable given all the bearish momentum we've already been seeing and could bring us down to $1.15, or possibly even back to $1. ADA may have a hard time breaking its all time highs because of the strong double top and aggressive sellers at that level as seen by the wicks, but my long term target remains at $5.
BINANCE:ADAUSD
by velocitylabs
2
EUARAUD LongEURAUD. We had a strong push upwards on the 25th of February until the descending trendline, then a correction started happening. The correction reached the Fibonacci retracement of 0.764 and rejected the level twice on a 4HR chart on 11 March. The correction may continue until 1.53269. My log entries are at 0.236 (1.5356),0.382 (1.54208) for a profit target at 1.618 extension (1.59644). As further confirmation that this may be wave 1 and 2 of the larger 5 waves move up, I see a descending wedge. The wedge was broken and retested and is currently in a range busy retesting the break point
Long
by TheMaverick187
2
Enter the trade too early, lessons learned, re-adjustingPrevious version is linked below. The pattern got invalidated and my order is picked up 😅 Lesson learned 1. Place trade only if see confirmation, don't rush setting the limit 2. Readjust the pending order if the pattern is invalidated, so i'm not depends on small probability I will create a Google Form using the following questions, and I will force myself to fill the following form before placing any order in the future. 1. What pattern is appear? 2. Do you understand to trade using that pattern? 3. Is pattern already confirmed? 4. How much your risk/reward ratio? This will helps me to not rushing when order, discipline, and always plan ahead. Always learning ✨
BLong
by UnknownUnicorn16802713
$T Symm.Triangle Breakout vs Fakeout?Hello Everyone! I recently had a successful play on ATT purchasing some calls before this past weeks uptrend on $T Unfortunately, since I didn't enter the trade with any real, calculated goal targeted, the position was exited once I saw an enticing percentage of gains. While I'm overall happy with the results, I couldn't help but notice the disappointment in myself as the price on the calls continued to rise even more after I sold them, knowing I could've quite easily returned even more from the position. So I've pulled up AT&T to get a closer look to see if I can identify any other clear opportunities on a new position. If things play out along with my idea, I'll enter a new position and this time with a more calculated plan- as is my main trading goal for this new year. To trade with more calculated entries and target goals to exit & improve accordingly. $T seems to be bouncing within a more symmetrical triangle pattern, with no real success breaking out- as noted by the circles marking the failed attempts. Personally I'm predicting that with some of the new business strategies AT&T is aggressively taking on recently, we could see some buyer confidence based off of those fundamentals. This could support the possibility of finally breaking out of this Symmetrical Triangle. We also seem to be retesting the resistance more than the support. If price breaks above the horizontal line (marked BULLISH), a pullback using that line as new support would be a great point for an entry. The top of that green arrow marks the target, slightly under $37 While watching this play out, I'm considering if taking on this move in the form of going long on both shares & some Options calls would be a strong move? That play would require some closer consideration to avoid over exposure to risk. I say that, because at this point it seems equally telling that ATT could continue downward, especially if resistance holds on a retest and buyer confidence weakens. I've laid out the 50 MA (thicker white band) & the 20 MA (thinner yellowish band) the 50 MA will help as a tool to plot safe stop losses without being too overprotective of the position resulting in getting stop'd out. I'll try to update on which way my view of this potential plan plays out on this idea. Please feel free to give friendly but honest critiques! Happy Trading! *this is not financial advice* **all my charts are for educational & personal tracking purposes**
NYSE:T
by NillaCoin
5