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Wedgebreakout

BF UTILITIES LTD. - LOOKS GOOD!Following a brief pause, the previous upward trend is poised to resume. A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend. The pattern formed over 37 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis. This bullish pattern can be seen on the Daily chart of $NSE:BFUTILITIE. PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade
NSE:BFUTILITIE
by hardeepssethi
Falling wedge breakout on TSLA hourlyLooking at the massive falling wedge breakout on TSLA hourly chart. Also notice the oscillator on the Ultimate RSI, just crossed north of 50 and looks like it wants to retest those +70 levels once again. The next supply zone sitting at $240-$242, if we break through that the next zone after that will be $248-$250, and if we break that we should see $255-$265. If not we will break back down to demand at $235-$230. This and NVDA breaking out, along with AAPL could bring a nice lift back up for SPY...
NASDAQ:TSLALong
by impossiblebull
5
📉 DYDX: Awaiting Shakeout for Further Ascent 🚀DYDX is currently navigating a substantial ascending wedge pattern, having recently experienced a swift breach of the upper boundary that prompted a notable short-term reaction. The current phase involves a retest of the previously contested resistance, which has now transformed into a support zone. A potential shakeout beneath the lower wedge boundary is anticipated to capture liquidity before embarking on the next leg of the upward movement. 📊 Key Observations: 📈 Ascending Wedge Dynamics: DYDX is ensconced within a large ascending wedge, presenting a structure that often precedes decisive market movements. 🔄 Retesting Transformed Support: The ongoing phase involves a retest of the support zone, formerly a resistance level breached during the recent upswing. 📈 Technical Analysis: 🔄 Shakeout Anticipation: Anticipation of a shakeout beneath the lower boundary of the wedge, designed to capture liquidity and set the stage for the next bullish phase. 🚀 Expected Shakeout Strategy: 🔍 Liquidity Capture: The shakeout aims to secure liquidity from both sides of the market, setting the groundwork for a robust and sustained upward movement. 📊 Strategic Considerations: 🧐 Vigilance during Shakeout: Traders are advised to remain vigilant during the anticipated shakeout, recognizing it as a strategic maneuver to capture liquidity before a potential surge. 📝 Conclusion: DYDX's current chart setup, characterized by an ascending wedge and a transformed support/resistance zone, points to a calculated shakeout as part of a broader market strategy. Traders should monitor this phase closely, recognizing its role in securing liquidity for the ensuing bullish momentum. 🚀 Unlock my 3 crypto trading indicators for FREE! 🚀
by AlexWhale