SPY: Broken wedge acting as resistance so far...Back and forth action as we digest the machinations of the oil market, and some slight weakness mid-day today with news that Gilead's remdesivir flops in first trial. It's interesting to see the broken wedge acting as resistance, but the 20-moving average on the day is acting as support. Still watching to see how this plays out, with a bearish bias.
Wedgebreakout
AUDJPY AUD/JPY down trend analazy daily/4h/1h
trend is down trend since 2015 may 15 this is daily analazy moving average 200 below moving average 100 AUD/JPY strong daily down trend wedge pattern tell to sellers try into push the price down but buys some time weak wait for LH level break down and retrecement (A) or (B) level
Keep on these points on intereset - Move incomingI have marked key points of interest with two phases of bullish & bearish potential outcomes. No fancy TA, just intuition based off of the previous price action.
Bullish Scenario
Breaking above the green trend line we can anticipate a bullish continuation of the micro trend
Micro target 7700-7900
Macro target (if resistance is broken): 8300-8500
Bearish Scenario
Breaking below the 6500 mark we can anticipate a bearing continuation of the macro trend
Micro Target: 5700-5900.
Macro target (if support is broken): 4900-5000
Thanks for reading :)
GBPAUD Breakout From Expanding Wedge.GBPAUD was trading in expanding wedge, but it has breakout from the pattern on the downside. Considering expanding wedge a breakout on downside our first target on downside support line 1 and target 2 is support line 2 . One can trade on the short side from the current level with the target as support lines 1 & 2.
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Note- Trade With Proper Risk Management System Only
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VIB BTC Potential Decending Wedge BreakoutVib has been consolidating for the past few weeks as it bounced off strong trendline support stemming back several months (indicated by the yellow dotted line).
It is now at another decisive point as price action meets descending wedge resistance. Will it break to the upside or down?
Volume is looking nice in this area considering this is a low profile coin.
It would be best to wait for confirmation prior to entry, but if you do enter....a stop loss is absolutely required.
A safe SL would be right under the yellow dotted trendline support at around 142-148 satoshis, depending on your risk management.
Green lines indicate potential points of interest for profit targets.
As always, BTC will most likely dictate most of the alt's fate...so these are dicey areas to trade.
This is not financial advice.
XTZ/USD - bear wedgeon the hourly timeframe discrepancy with the AO indicator.
Indicates that there is no power to continue upward.
on the daytime timeframe, the AO indicator has gone long.
Two shopping areas:
when the exit is up.
or on a rollback to pick up.
rollback down or sidewall likely to unload indicators for further growth.
main resistance zone 2.5$
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!