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Wedge

GBPJPY → Buyers increase positions to break 195.5 ↑FX:GBPJPY continues to climb purposefully towards 195.5, forming a consolidation in the form of an ascending triangle. The goal of this maneuver is to break the resistance with further continuation of the upward movement... The bulls are trying to keep the defense above the key support at 193.5. The change of the fundamental background for JPY strengthens the sales of the national currency, which favorably affects, in our case, GBP. As a consequence, the market starts testing 195.5 with the aim of a breakout. GDP in UK remained at the same level of 0.2%. There is important news ahead - PPI. Based on the previous economic data, we can assume that PPI will also support the dollar, which will negatively affect the JPY. On the background of this influence, the bulls will be able to overcome the key resistance. Support levels: 193.5, 191.7, 190.0 Resistance levels: 195.5 The acutal situation on the chart is directed towards the continuation of the movement. The market structure is changing, the fundamental background is on the side of the buyer. We are waiting for the breakthrough of the key resistance (trigger) and the continuation of growth... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPJPY ;) Regards R. Linda!
Long
by RLinda
8
TOYS R BACK - Bullish Beginning & BottomReasons to be bullish on ToysRUs / TSX:TOY : Recently completing a double W bottom, TSX:TOY is looking like it is about to escape the jaws of bankruptcy and begin a dramatic resurgence in price. The long diagonal white line if broken will be the first time that has happened in over a decade and should it do so, it is likely to kickstart a period of intense buying, from shorts covering their positions. If you wish to play it safer, wait until the inverse head & shoulders plays out, above the yellow slanted line. The company recently announced a loss $19m AUD in it's Annual Report , which was lower than expected following the transformation of the 'House of Brands' strategy they are now pursuing. Thanks to the increased margins of their newly acquired brands, the dramatic cost-cutting efforts that are underway, the new store partnerships being pursued as well as the profitable holiday season that is fast approaching - I think we have far more reasons to be bullish than bearish here. Talking of bullish... Target 1 should it come to pass will be 0.850 AUD per share vs 0.063 at the time of writing - a 13.5x. This is the 0.236 fib to retrace just a short distance of its prior decline. Target 2 would be $20 AUD - a 317x from current price levels, at the 0.5 fib level. Target 3 should you wish to dream so big, would be ~78 or 80, at the 0.618 level. Those targets may sound like something from a TOY store, right? Well, this brand has so much going for it in the years ahead. Not only are we on the cusp of a potential boom in its stock price, we may well be about to turn a corner with a huge baby boom all across the entire Western world. This is against the trend & narrative on display everywhere. Something tells me ToysRUs is about to dramatically grow their loyal customer base of 1.3 million customers. So why not benefit whilst that happens? Risk averse? A stop loss of $0.048 AUD will likely preserve your capital from here. I'm expecting a sharp and sudden impulsive move up out of this latest & last grey descending wedge. Likely to Target 1 within the next 6 months, but be quick because your window of opportunity for a turnaround in the huge holiday season is closing. It will likely be priced-in before earnings on 26th March 2025. Thanks for reading!
ASX:TOYLong
by DigiDavid
1
NOTHING !!NOTCOIN is forming a falling wedge on Daily timeframe , Up we go if we do breakout. the price can be bullish and I expect the price to go up to the Fibonacci line of 0.618 = 0.0012 Stay tuned for more updates, thanks. ✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us. Best regards CobraVanguard.💚 _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
1
EGLD - Time to buy again!EGLD is forming a falling wedge on Daily timeframe , Up we go if we do breakout. ✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us. Best regards CobraVanguard.💚 _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
POPCAT → Bearish Pressure !!!As you can see, a Bearish wedge has formed on the daily timeframe, which means it is time for a price correction , every uptrend has to be corrected, that's the nature of the market. ✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us. Best regards CobraVanguard.💚 _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Short
by CobraVanguard
2
The real value of gold is not this!!Gold is currently in a descending wedge and has completed its five upward waves, all indicating a bearish price trend. What further confirms this bearish outlook is the bearish divergence in the MACD. If the signal is followed, we will see a price drop. but Do current tensions in the Middle East allow for it ? ✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us. Best regards CobraVanguard .💚 _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
FOREXCOM:XAUUSDShort
by CobraVanguard
2
EURGBP → Attempting to break through the resistance.FX:EURGBP is breaking wedge resistance and consolidation resistance after prolonged consolidation. The reason is the change of the local euro rate. If the bulls are able to keep the defense above 0.8346, then in perspective the currency pair will be able to move into the realization phase, which will allow the price to reach 0.838 - 0.842. The fundamental background for both countries is similar. The general course of interest rates reduction and dependence on the growing dollar. But the local sentiment allows pointing to a more positive mood among those willing to buy EUR. Resistance levels: 0.8346, 0.8384, 0.842 Support levels: 0.8316 The price is in the risk zone, where there is a struggle between the participants. The focus is on the buyer. If he can consolidate his positions above the previously broken wedge resistance, then above the consolidation resistance at 0.8346, it will be the beginning of realization. Regards R. Linda!
Long
by RLinda
5
EUR/USD: The Big Short??As we can see, Eur evolved in a huge raising wedge since 1985. This wedge has been broken in 2015 (blue rectangle). The price even did a PERFECT pullback (blue square), suggesting the power of the trend. The target of that wedge is 0.55$. On top of this, we can see that the SSB rejected the price EVERYTIME since 2014 (red circles). The October candle has already been rejected (eventhough confirmation will be actual on October, 31st). Alltogether, these analysis seem forecast a huge dump to come for EUR vs USD in the coming years, up to 50% decrease.
Short
by The_Crypty_Fox
USD/CHF looks heavy despite relentless USD strength The Swiss franc has held up remarkably well this week despite some of the G10 FX moves against the USD. Sitting in a rising wedge, it was rejected at uptrend resistance on Wednesday, deliver an inverse candle on the daily. The price now finds itself resting on uptrend support and looks heavy. RSI (14) has diverged from price but the bearish signal on momentum has yet to be confirmed by MACD, although the latter also looks toppy. One short setup would be to sell now or on a break of the uptrend with a stop above Wednesday’s high for protection against reversal. The initial target would be .8617 although, to make the risk-reward stack up, it would be preferable to target the 50-day moving average. Good luck! DS
Short
by FOREXcom
Bitcoin - All time high this week! (wedge is breaking out)Comment your altcoin, and I will make a technical analysis for you in response to your comment! Bitcoin is breaking out of the rising wedge pattern and will most likely hit a new all-time high until the end of this week or October! We can also see that a major bullish flag on the weekly chart is breaking out as well, so this is considered a double breakout. I have 3 short-term profit targets: 70,079 is the first major swing high of the major bullish flag. 73,777 is the previous all-time high level, and 78,438 is a very significant resistance because it's the 1.618 FIB extension. From the Elliott Wave perspective, this is extremely bullish as well. The combination of waves 1-2-1-2 creates an Elliott Wave bullish nest. That means we are currently in wave 3 of wave 3, and you probably know that wave 3 is usually the strongest of all of them. We can finally expect increased volatility! Write a comment, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss. I share my trades privately. Thank you, and I wish you successful trades!
Long
by Xanrox
140
Bitcoin: The Final Move Before a Crash to $3000It seems that Bitcoin has started forming an ending diagonal, which serves as the final impulsive waves in Elliott Wave Theory but has a corrective 3-3-3-3-3 structure, also known as a rising wedge. This wave will likely mark the end of a cycle pattern that began with Bitcoin’s inception, correcting all the growth achieved so far. A correction of this magnitude has no strict limit, but it will likely end at the lower-degree fourth wave, around $3000 per Bitcoin. This is also where the power line lies according to the volume profile. This scenario will gain more weight if, in the coming days, instead of heading to new highs, we drop below $66,500 again. In that case, I expect a correction to the $59-60K range, followed by the last upward three-wave move toward $80K. From there, at the first signs of a reversal, I believe it will be prudent to focus exclusively on short positions, targeting extremely low levels below $10,000 per Bitcoin.
Short
by myteam
55
Uptrend in Play or Drop Incoming? Key Price Zones!OANDA:GBPJPY Current Price: 195.150 Chart Timeframe: 1-Hour Bullish Outlook: The price tested the Ascending Channel’s lower trendline as support and is now heading toward the 196.049 target. Minor resistance at 195.714 may cause a pullback to 195.339 before the price resumes its move toward the 196.049 target. Alternatively, if the price breaks below the channel’s lower trendline, it could lead to a decline towards 193.708. Resistance Levels: • 195.714 (Minor resistance) • 196.049 (Primary target) Support Levels: • 195.339 (Expected pullback level) • Lower trendline of the Ascending Channel (Current support) • 193.708 (If the price breaks below the channel) Happy Trading!
Long
by SpicyPips