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Wedgebreakout

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
UNI TARGETING FOR $18Embark on an insightful exploration of UNI's recent market maneuvers, dissecting its tactical prowess and decoding the signals that underpin its bullish trajectory. Let's delve into the specifics of UNI's recent actions and what it means for traders. Strategic Retests: A Show of Resilience: Zone of Resilience: UNI has strategically revisited the lower boundaries of its support zone on multiple occasions. These calculated retests highlight the coin's robust bullish sentiment and its ability to withstand market pressures. Breaking the Chains: Triumph Over the Downtrend: Monumental Breakthrough: UNI emerges victorious by decisively breaking a significant downtrend line. This breakout marks a substantial shift in the market dynamics, affirming UNI's newfound strength. Deciphering Manipulation Tactics: Crafted Maneuvers: Range Breach and Imbalance Retest: What initially seemed like market manipulation beneath the range level unfolds as a well-thought-out strategic move. A subsequent retest of the imbalance zone serves to solidify UNI's commitment to overcoming resistance. Setting the Target at $18: Navigating the Path to $18: UNI's strategic maneuvers position the coin for a steady ascent, with a specific target set at $18. The trajectory reveals a bullish narrative, drawing attention from traders keen on capitalizing on potential opportunities. Insights for Strategic Navigation: UNI's recent market actions, characterized by methodical retests and breakthroughs, project a bullish sentiment. As traders navigate this landscape, keeping a watchful eye on potential entry points and understanding the implications of UNI's strategy is crucial. ❗️Unlock my 3 crypto trading indicators for FREE! Link below 🔑
by AlexWhale
EWT - Wyckoff Accumulation + Volume #EWT This beautiful falling wedge or #bullflag has all the mechanics of a #Wyckoff Accumulation Schematic built into it, which can be seen by #volume tells in all the right places. After The low was breached note the negligible #volume, then observe the volume on the first solid bullish candle to break through the #wedge. What we want to see after is the follow-through retrace candles reaction, and not just the #volume, but the fact it snatched the stops on the candle a month before it. Pair that all with my favorite leading indicator, #OBV, which has already breached the last swing. I like this PA...
KRAKEN:EWTUSDLong
by ANobleNerd
$JD Potential Reversal: 2-Day DB, Descending Broadening WedgeOverview: JD (JD.com Inc.) appears to be forming a compelling technical pattern that suggests a potential reversal. The stock has developed a 2-day double bottom pattern, coinciding with a falling wedge setup, all occurring within the confines of a major descending broadening formation. Traders and investors should closely monitor these key technical levels for potential bullish momentum. Key Technical Observations: Double Bottom Pattern: JD has established a clear double bottom pattern over the past two days, a classic reversal formation characterized by two distinct lows at approximately the same price level. The first low was set , followed by a second low , forming a W-shaped pattern. Falling Wedge Formation: A falling wedge is currently in play, with converging trendlines forming lower highs and lower lows. Falling wedges are often indicative of slowing bearish momentum, and a breakout to the upside could signal a reversal. Descending Broadening Formation: The overall context involves a major descending broadening formation, marked by expanding price volatility within a downward trend. This formation could imply a period of uncertainty and potential for a reversal as the pattern reaches its apex. Potential Trading Strategies: Entry Points: Conservative traders may consider entering long positions upon a confirmed breakout above the upper trendline of the falling wedge. Aggressive traders might explore entry opportunities near the lower trendline, anticipating a bounce within the descending broadening formation. Stop-Loss and Take-Profit Levels: Establish a stop-loss level below the recent double bottom, ensuring protection against a potential breakdown. Identify potential resistance levels within the descending broadening formation as initial take-profit targets. Confirmation Signals: Confirm the bullish reversal with increased volume on the breakout from the falling wedge. Use additional technical indicators, such as RSI and MACD, to validate the strength of the potential reversal. Risk Considerations: Trading involves inherent risks, and it's essential to manage risk effectively. Be cautious of false breakouts and monitor market developments closely. Disclaimer: This analysis is for informational purposes only and should not be considered as financial advice. Always conduct thorough research and consult with a qualified financial professional before making trading decisions.
NASDAQ:JDLong
by STP_MrNodeItAll
CRO: Tightening Below Key Resistance (BULLISH)🚀📉Today, let's explore the exciting developments on the CRO chart, where a recent breakout from a falling wedge pattern has set the stage for potential upward momentum. The coin is now consolidating beneath a critical resistance level, teasing the possibility of a decisive breakthrough. Here's a closer look at the current scenario and what to anticipate next. 📊🚀 Analyzing CRO Chart: From Falling Wedge Breakout to Key Resistance Battle Falling Wedge Breakout: Pattern Formation: CRO recently experienced a breakout from a falling wedge pattern, a bullish sign that often precedes upward movements. Momentum Shift: The breakout signaled a shift in market sentiment, hinting at potential bullish momentum. Consolidation Beneath Key Resistance: Critical Level: CRO is currently consolidating beneath a key resistance level, a crucial zone that traders are closely monitoring. Accumulation Phase: The consolidation suggests an accumulation phase as the coin prepares for a significant price move. Gearing Up for the Challenge: Potential Breakthrough: Traders and investors are eyeing the possibility of CRO challenging and breaking through the highlighted resistance. Volume Analysis: Confirming the breakout with a surge in trading volume would add weight to the bullish case. Trading Strategy Considerations: Confirmation Signals: Wait for Confirmation: Prudent traders may consider entering positions after a confirmed breakout and retest of the resistance turned support. Volume Validation: Verify the move with robust volume, indicating substantial market participation. Risk Management: Stop-Loss Placement: Implement effective risk management strategies, including well-placed stop-loss orders, to protect positions. Monitoring Key Levels: Keep a close eye on key support and resistance levels for potential trend reversals. Price Outlook: Optimistic Scenario: A successful breakout could pave the way for a sustained upward trend, with potential price targets in focus. Conclusion: CRO's journey from a falling wedge breakout to the current consolidation beneath key resistance presents an intriguing narrative. Traders should exercise patience, await confirmation signals, and stay vigilant as the coin gears up for a potential breakthrough. ❗️Get my 3 crypto trading indicators for FREE! Link below🔑
COINBASE:CROUSD
by AlexWhale
3
USDJPY potential bullish patternAs can be seen in the chart, there is a falling wedge pattern in the chart, which is a naturally a reversal chart pattern and is regarded as an intrinsically bullish formation. This chart pattern is occurring at the important Fibonacci level of 38.2%, and the fact that we have bullish divergence between price and the stochastic oscillator in 4-hour timeframe adds to the possibility of this chart pattern working. Entries may be initiated at the bullish breakout of the wedge pattern, and based on a one-to-one minimum price target strategy, we can anticipate the price to reach its previous daily high. Also it should be noted that in case of bearish breakout of the chart pattern this trade idea has failed alongside the chart pattern. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Long
by mohemati
1