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Wedgebreakout

BOILING!All I seem to be doing is shorting atm lol!. I believe we will have one more push to 114.200 before we see the real drop! a nice big wick up to wipe out all the people that have already moved stop losses to break even maybe?. There is lovely amounts of liquidity in the top zone but for me we haven't touched that 114.200 which has easily been met before in this month and last month too. I only enter upon optimal entry. I'd rather sit back and watch it play out rather than enter now. Very tight trading channel! we have seen this pattern across most JPY pairs this week which have now broken out and fallen below, just check my other jpy trades I took this week. This pair could just be lagging as they are both seen as safe heavens during times like these but I do believe this pair will follow what eurjpy and usdjpy have done. S/R zones look good! very tight rising wedge looks goood and the magic fib all looks good too!
Short
by XHRISTIE
1
GBPUSD 1D WOLFE WAVE STRATEGYWhen trading the best wolfe strategy you will find that after the entry is triggered your position should show you an immediate profit. This is because the reversal pattern that emerges from the wolfe wave chart pattern is very violent. Once we’ve got the first five waves we have the general setup of the wolf wave . After the last wave has broken above the ascending wedge channel it’s the time to get ready for some action. Step #1: Prior to the Bearish Wolfe Wave Formation look to have a clear Bullish Trend . Firstly, before the first wave to develop we need to have a clear trend that needs to be reversed. For high probability trades, we want to see a prior bullrish trend before the bearish wolfe wave develops. This step is quite essential if you want to correctly trade the wolfe pattern. Now that we’ve identified a trend, it's time to apply the wolfe wave rules to the price chart. This brings us to the next step of our reversal strategy. Step #2: Try finding a 5 wave move that can be contained in a channel. The last wave 5 must break above the wedge channel. A valid wolfe wave is composed of 5 waves that follow some simple rules. However, the most important rules are that wave 2 and 4 must be contained within the channel created by Wave 1 and Wave 2. Secondly, wave 5 breaks above the trendline created by wave 1 and wave 3. Step #3: Sell after we break above and then a candle close back inside the Wedge Price Channel . At the moment when the price enters and closes back into the price channel , we want to enter a short position. We like to wait for the close inside in order to eliminate possible fake breakouts. Note*: If we don’t get a close back into the wedge price channel we don’t have a valid trade signal. Another sign to look for is how quickly it goes back into the channel. We prefer to only trade the wolfe patterns that retrace very quickly back into the range. This is a sign that a smart money reversal is at work. Remember, in trading, you only want to trade the high probability trade setups. Step #4: Draw a trendline that connects the wave 1 high and wave 4 low and extend it in the future. Take profit when the EPA line is hit or candle close below it.. The line that connects the wave 1 high and wave 4 low is called the wolfe wave EPA line. The EPA line stands for Estimated Price at Arrival and it’s an effective take profit strategy. The EPA line main purpose is to show at what price the market will extend after it reversed the previous trend. Note*: If the EPA line is too steep, often time it means that the price will never reach it. In this case, you want to take profits early. Step #5: Hide Protective Stop Loss above Wave 5. The protective stop loss can be located above the last wave or wave 5. This strategy gives us a very tight stop loss which is good for our risk management strategy. Obviously that a break above wave 5 means we also break first above the channel and this will invalidate the validity of the wolfe wave chart pattern. Note** the above was an example of a SELL trade using the best wolfe wave strategy. Use the same rules for a BUY trade. Conclusion - Best Wolfe Wave Strategy The wolfe wave strategy is a trading strategy built around waves the same like Elliott Wave trading. We use other trading concepts like channeling and price symmetry to find the best possible trade signals. If the trade works in our favor then we have a really good chance to have a good trade in terms of risk to reward ratio. With trading experience, it will become much easier to spot the wolfe wave patterns.
Education
by Tradingstrategyguides
CHMA short entry on break of upward wedgeAs CHMA breaks its upward wedge pattern, a short position is entered with a tight stop. Factors leading to the decision: Huge rejection at the ATH, creating a new major down-trend Lower trendline of an upward wedge has been broken Heavier bearish volume showed up at prior dip, getting the attention of short sellers Price came back up and re-tested the trendline and was rejected. This creates a lower-high which is an ideal place to put a tight stop for the trade As always, use a tight-stop and if it rips down, let it run and trail stops behind
CShort
by ericsolan
BTC Being Squeezed Into A Corner?Hey Folks, It's been a while since I published an idea, but I have not been away from Crypto at all. In fact, I've just been very busy behind the scenes, intensely studying the charts and watching the Crypto space, and the world in general. So let's get into it... Today, on my BTC/USDT daily chart, I noticed two trend lines which I drew (In red) - the one going all the way back to December of 2018, and the other to June 2019. What is now significant to me about these two lines, is that they not only culminate in a wedge formation sometime in early April 2020, but after the sharp fall of Bitcoin's price three days ago, the currency now seems to be looking to find some kind of footing and direction going forward. And what do you know, if what I'm observing plays out, the price action may be squeezed into a corner - perhaps very close to, or in the first half of April 2020. As the more experienced traders among you know, a scenario like this usually results in Bitcoin going into consolidation mode for a period of time. This, combined with the two intersecting trend lines, could sometimes force the price into a very narrow band going forward, before eventually erupting in either an upward, or downward direction. The million dollar question is, in which direction will Bitcoin eventually go? As always, these are my own ideas and not financial advice of any kind, I am merely sharing one of perhaps many possible outcomes. I would truly love to hear your opinions, your ideas - if you see something different than what I presented here, please leave a comment below. Let's help each other become better traders by sharing your ideas and opinions in the comments below
Long
by Jaco-Snyman
1
USDCHF - Further Retracement ExpectedHi Traders! The market is in a downtrend. The reason why we are buying is ( and that's of course against the trend ) , that the market has not much strenght to push the price lower. That's why we're looking for a retracement/buy opportunity. Because of the openig wedge and the resistance at 0.94000 this could be a good breakout trade. The target is the important key level of the 61.8% of the Fibonacci Retracement. The Fibonacci Retracement covers all of the downmovement. We recommend to trade the breakout of the resistance. Thanks and good luck :)!
Long
by swissmoneymakers
DENT / BTC Falling Wedge. Pivot points. Potential + 60-120%DENT / BTC Falling Wedge. I showed the zone for observation and the pivot point on the chart. The potential for working out the figure "Descending Wedge" + 60-120% Levels on the chart. Entrance is only on a wedge breakout or on a rollback after a breakthrough. Do not freeze money in coins! Time is money! Stop loss Under key support levels during your entry into the market. Do not forget to move Stop Loss during the price increase, but take into account the volatility of the coin.
by SpartaBTC