Possible tradeAs we can see there is a retest of the wedge that was broken. Will be looking for a short now.
Let me know in the comments what you think of it.
Wedgebreakout
XLM/USD on verge of potentially breaking year-long resistanceContext Introduction:
XLM/USD has been caught within a descending wedge (bullish) for a bit over a year now. With Black Thursday's crash, bears really overextended themselves and even managed to temporarily break this wedge's support. However, a quick rebound helped regain the validity of the support. Since bears overextended themselves and were rejected, XLM/USD has now managed to reach the resistance of the descending wedge, where it has been consolidating for approximately a month now. Consolidating so close to such a significant resistance without a significant rejection (relative to the range of the descending wedge) for such a long period of time is allowing XLM/USD to gather momentum to attempt a strong break of the resistance. Additionally, XLM has been trading within an ascending channel since Black Thursday's crash and is now near the support of the channel, allowing for room for growth relative to this channel. The support of this channel and the resistance of the wedge form a symmetrical triangle (bullish).
What do the technical indicators tell us? (Daily Chart):
The MACD has been below zero for approximately 20 days now. Given that MACD is a lagging indicator and with today's rise, it is likely to cross over 0 soon. Additionally, it already established a higher low (reduced probability of a re-dip). With the MACD signaling a potential crossover soon and its extended time below 0, this increases the probability of an upside break of the wedge's resistance.
The RSI had been stuck in a downtrend ever since the start of the wedge that seems to have ended after Black Thursday's crash. We are now seeing higher lows and higher highs on the RSI. Additionally, the RSI barely managed to go below 50 during this recent consolidation, and has now risen to near 60. This shows that the bears were unable to garner significant enough strength to pull XLM away from the resistance. The RSI also signals room for growth.
Potential Risks:
If XLM/USD is strongly rejected at this resistance, watch out for a loss of support near horizontal support at ~$0.062. If such occurs, the next significant support lies at the 200D SMA (currently at ~$0.057) followed by another horizontal support level at ~$0.053. If this level is lost, watch out for levels near ~$0.04. At this point, if a low was established an inverse head and shoulders pattern could come into play on the daily timeframe, allowing a breakout of the wedge after such.
Likely Outcome:
Given the primarily bullish indications above, I predict a break of the descending wedge's resistance soon. If this resistance is decisively broken, expect a potential test of support (which very conveniently lines up with the ascending channel's support) at previous resistance before continuation.
Potential entry:
Upon successful test for support of rising wedge (~$0.07).
Gold's Next Big Move If 4H candle closes below 1722 look for shorts and if it breaks out of wedge upside then look for long to 1747-1750 zone as this is a liquidity zones and price is very likely to go and tap it.
Broke out of wedgeJust passed over 200 ma and continuing to rise. Let's see how far we go. 3090 would be my next level.
Keep an eye out for thisAs we can see in on the chart. There is going to be a breakout of the wedge. Wich one it is going to be is not certain for me. If you know than just let it know in the comments.
Possible tradeAs we can see there is a test of the wedge. I personally want to wait a bit for the wedge to be broken en have a fakeout. After the fakeout there will be a restest of the wedge.When this happens I want to ge long and activate the trade. We can also see that the 30 levels of the RSI has been broken just a little. This is also an indicator that the price will go up.
Let me know in the comments what you think of it.
Possible tradeWould have to wait and see for a break end retest of the wedge. When this happens we can go long on this trade.
Let me know in the comments what you think of it.
TOMO/BTCSTP Crypto Alert 5/22/20 @everyone -- Swing Trade - - - 4hour chart looking bullish - Swing Trade - Falling Wedge
Ticker: TOMO/BTC
Entry: 4150-4250 sats
Take Profits:4350, 4450 ,4550, 4650(.236 fib), 4750, 4850, on up to 6550-> (measured move of the falling wedge) -->11k-12k sats is longer term target of the fib extension!
Stop Loss: 5-7% stop loss however you wish to implement (depends on your entry)
3C Smart Trade Link:
Trade ideaWe just need to see and wait until the rebound is done and when the price is back at the wedge once it has crossed it.
Let me know in the comments what you think of it.
LendBTC: Falling Wedge Breakout + Inverted Head and Shouldersthere are a falling wedge breakout and inverted Head and Shoulders on the chart of LendBTC and both of theme are big bullish signs.
All information and possible targets are provided on the chart, so you can open your position accordingly.
Due to BTC instability please place your stop loss tightly.
Hit the like if you agree on the this idea.
ICX/BTC!STP Crypto Alert 5/19/20 @everyone -- Swing Trade - - - 4hour chart looking bullish - Swing Trade
Ticker: ICX/BTC
Entry: 2900-3100 sats
Take Profits:3200, 3300, 3400, 3500, 3600, 3700, 3800 --> 4500-> (measured move of the falling wedge) --> 5-7k sats is longer term target of the fib extension!
Stop Loss: 5-7% stop loss however you wish to implement (depends on your entry)
Good luck Traders!
Consolidated DollarSeems that the DXY is in consolidation mode and needs to breakout soon. Not sure if it will be fueled by an event, but somehting is going to initiate breakout soon. More likely to the downside as I'm predicting. Expecting price to drop to the downside of the wedge and can be possible that it breaks for a possible retest to go further down.
RIOT Falling Wedge - Possible BreakoutWEEKLY PRICE CHART - PRICE ACTION BEFORE AND AFTER BITCOIN HALVING 2016/2020
As we can see from the chart there is a falling wedge forming from around mid 2018. In the near future in going to breakout and have the most possibilities to breakout on the upside following the post-halving bitcoin price action in the mid and long term that is definitely bullish.
CHART
- The blue marks, signs the main resistance/support levels in the pre-halving price action.
- The orange vertical lines are the dates of the bitcoin halving at 2016 and 2020.
SCENARIOS
1. The falling wedge is most possible generally to breakout to the upside. In the short term is gonna break, it is near the end.
2. The bitcoin halving is one day and of course in the short term there is a lot of sellouts and dumps that is logical but in the short and long term is always bullish.
3.This company is so close related to the bitcoin price and it out of the few company listed on NASDAQ that working with blockchain space.
So i think i the mid and long term is gonna be bullish.
This is just my opinion, its not an financial or trading advice. Each person must do its own research before investing in the market.
Expecting ONT/USDT to rise after an uncertainty period. Expecting ONT/USDT to rise substantially before the next weekend. Expecting it to break out of the wedge and the momentum should be enough to test the daily level at 0.49
POWR/BTCSo if you followed our last idea $TLRY we saw a big move coming and it sure did :)
So, in this analysis we are looking at a cryptocurrency called Power Ledger or POWR. We think this will have a big move in the coming days here to around 1k sat area! GL traders :) feel free to checkout our youtube, facebook, and discord channels!
UNH buy out of wedgeNYSE:UNH
Great wedge forming off earnings with volume drying up a bit and price action getting tight. A buy through 298 against 285 looks good.
Bharti Airtel forming a perfect wedge patternThe daily chart of Bharti Airtel shows a accumilation zone from 525 to 550. This zone is crucial, a break out on the upside can move the stock to upword of 600 which is the previous high. However the breakdown would mean the longs accumilated would soon close their positions and would take the stock downward of 500. Would be interesting to see what happens this week
Upward Wedge Bear ContinuationHere we see how it broke the upward wedge and it could possibly continue down for a nice short entry. I am hoping to get it before it continues down.
Possible restest to continue down after break of upward wedge At 1D we see a an upward edge that broke the trend line and the support line with a gap. Currently it looks like if it was retesting back to the gap and the resistance line (that used to be support). If it does retest, it would be a nice entry to the short side at the 1H after confirmation.
PS. I already entered the trade a little bit before that and it looks like it is coming back down.
AUDCHF SHORT SELLNice break of ascendingchannel on this pair. Probability of drop is high as the channel's high met a previously tested resistance level. Stoploss is wide because there is also a probability of a pullback but worth it as this trade offers a 1:2 riskreward ratio.
