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Wedgebreakout

USDCHF > Wedge Pattern, Bullish Breakout?!Hey friends👋 Support this idea with like if it's helpful to you, leave me a comment below that will help me a lot 🙏. Analysis of #USDCHF The pair is the trading inside a wedge pattern and we can expect a break to the upside if the Swiss bank did not manipulate this one. I will enter the trade here if it was not Friday but will reevaluate next week ⚠ Please note the ideas is valid only if it happened as I said above Thanks for taking the time to read my idea please do not forget to hit the like it's my only reward🙌 Check today analysis below Stay safe everyone _____________________________________________________________________________ Before trading our ideas make your own analysis. _____________________________________________________________________________ Disclaimer: this information is not a recommendation to buy or sell. It is to be used for educational purposes only
Long
by TheTradersAvenue
Avinger Monster Wedgie! (AVGR)Up late scouting some penny stock positions to start rolling some capital into, this one stood out! As you can zoomed out on the weekly timeframe the candles are shifting green but are still under this tight compression in this monster sized falling wedge chart pattern. This looks really good! These are ideal chart setups that you want to look for, especially in penny stocks as when they breakout they can surge with high volatility. Let's zoom in and see what levels we want to play.
A
by UnknownUnicorn2319099
34
GOLD Could See $1800, Wedge Break!Gold seems to be busting out of the wedge towards its next stop of $1800. I think we might get above there to see a new range of $1800-1900 assuming we hold an inverse correlation to the macro. In 2009 and forward moving out of the financial debacle you saw GOLD recover faster and harder with inverse correlation. At the moment the economy slowed down, Gold did too. What we want to see is a true inverse correlation, I thought it would be too soon, but the chart maybe telling us different. Being conservative I would put a trade on after confirming $1750 on the daily.
TVC:GOLD
by ChartProphet
3
EYEG Wedge Breakout + MACD CrossPrice consolidating atop the 200 SMA, and recently the 50 SMA. MACD bull cross, and RSI finding strong support on top of the 50 EMA of the RSI convey upside momentum bias (I find the 50 EMA on the 14 RSI to be very informative, I recommend you try it for yourself). I am looking for price to stay supported by 5 day SMA and I will look to buy the wedge breakout to the upside. The $4.80 level that has been local support is also a .786 retracement of the move off the Aug '19 lows to the Dec '19 highs. As usual, try to get in on the post breakout pullback but if volume is strong I'll probably just jump in. Minimum target is $6.50, an area I think is key resistance although the measured target given the size of the wedge is +$8.00.
NASDAQ:EYEGLong
by ETrades1
MU Long, Using "MM_SMA_Swing" to find trading opportunity Add "MM_SMA_Swing" with input: Show SMA(50), Dev (1%) Add EMA(144) Draw trend lines, Verify the price action: 1. Wedge breakout to up side, 2. Pull back to re-test the trend line Entry: 47 Stop: 45; when trend line break, also Below EMA144 and SMA50 Target1: 53; risk/reward=1:3 Target2: 58; risk/reward=1:5 This is a trading school homework. I need few months to practice trading plan. If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
NASDAQ:MULong
by PlanTradePlanMM
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).
COINBASE:XLMUSDLong
by usubzero