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Wedge

Euro can start to decline from resistance line of wedgeHello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price entered to upward wedge, where it at once turned around from the support line and rebounded up to the 1.1000 support level, which coincided with the support area. After this movement, the EUR made a correction movement and then bounced up higher than the 1.1000 level, breaking it, but soon turned around and declined below. Then price started to grow and later reached the current support level, which coincided with one more support area. Soon, EUR broke this level and reached the resistance line of the wedge, but then it at once turned around and declined to the 1.1000 support level, breaking the 1.1140 level again. Also, the price reached the support line of the wedge again and after this, it turned around and bounced up to the 1.1140 level. This level price broke a not long time ago and at the moment it trades near the support area. In my opinion, the Euro can reach the resistance line of the wedge and then start to decline to the support line, breaking the support level. For this reason, I set my TP at 1.1065 points, which coincides with the support line of an upward wedge. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
6
DODO Secondary trend. 02 09 2024Logarithm. Time frame 3 days (less is not needed). The price is in a horizontal channel, at the support zone, near the capitulation zone and liquid zones, which can give a massive triggering of long stop loss under the channel. A descending wedge (secondary trend) was formed by the decline from 03/13/2024. Its breakthrough is a trend break. The chart shows two average, not maximum targets for breaking the descending wedge (secondary trend) for orientation: 🟢 1) maintaining channel support and not entering the capitulation zone. 🔴 2) entering the capitulation zone. ______________________ The previous idea (wedge and work in the accumulation channel) for this coin and a similar trading situation that was published more than a year ago before the reversal (about +200%) DODO/USDT Secondary trend. Accumulation channel 08 2023 _____________________ The prices are currently acceptable from the standpoint of both the secondary trend and the main one. ⚠️ Due to the rather low liquidity, capitulation zones are extensive on such cryptocurrencies due to price slippage. Remember this and work wisely with the margin, and it is better to work with such cryptocurrencies only on the spot. 🟢 In the long term, this DEX will be heavily pumped up. Now they are pouring in a lot of money. The network has grown by 200% in users in a few months. This is all happening unnoticed against the background of the negative local fall of bitcoin. Linear price chart. Main trend. Time frame 1 week. DODO Main trend 09 2024
by SpartaBTC
7
#LTCUSDT #4h (ByBit) Broadening wedge breakout & retestLitecoin pulled back to 50MA support where a bounce seems likely, eventually leading to a bullish continuation. ⚡️⚡️ #LTC/USDT ⚡️⚡️ Exchanges: ByBit USDT Signal Type: Regular (Long) Leverage: Isolated (7.0X) Amount: 4.8% Current Price: 72.06 Entry Targets: 1) 71.83 Take-Profit Targets: 1) 80.39 Stop Targets: 1) 67.54 Published By: @Zblaba CRYPTOCAP:LTC BYBIT:LTCUSDT.P #4h #Litecoin #PoW litecoin.org Risk/Reward= 1:2.0 Expected Profit= +83.4% Possible Loss= -41.8% Estimated Gaintime= 5-10 days
Long
by TradingOn
#EGLDUSDT #1D (ByBit) Big falling wedge breakoutMultiversX (f.k.a. Elrond eGold) looks good for bullish continuation on daily after regaining 50MA support, road to 200MA resistance seems next. ⚡️⚡️ #EGLD/USDT ⚡️⚡️ Exchanges: ByBit USDT Signal Type: Regular (Long) Leverage: Isolated (2.0X) Amount: 5.0% Current Price: 35.91 Entry Targets: 1) 34.56 Take-Profit Targets: 1) 48.29 Stop Targets: 1) 27.68 Published By: @Zblaba CRYPTOCAP:EGLD BYBIT:EGLDUSDT.P #1D #Elrond #eGold #MultiversX multiversx.com Risk/Reward= 1:2.0 Expected Profit= +79.5% Possible Loss= -39.8% Estimated Gaintime= 1-2 months
Long
by TradingOn
2
EURCAD → One step away from a rally. High chance to break 1.5100FX:EURCAD exited from the accumulation of the “descending triangle” format, which is a favorable signal for the continuation of the trend. A promising bullish structure is forming on W1. Euro, despite the ECB interest rate cuts, is growing and the growth is mostly related to the dollar, which is falling after Friday's news of PPI and Initial Jobless Claims. Now it is not the fact of the action itself that is being discussed, but how much it will be cut... Technically, the currency pair is consolidating in front of the global resistance at 1.51000. The strong level has been holding the market in the bearish zone for several years, but the fundamental background gives a chance to break and move into the realization and growth phase. Resistance levels: 1.5051, 1.51000 Support levels: 1750238, 1.4935 The primary reaction at 1.505 may end with a rebound, but most likely the bulls will manage to keep the defense above 1.5023 - 1.505, which may have a very favorable impact on the further growth of the trend. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURCAD ;) Regards R. Linda!
Long
by RLinda
8
WLD , undervalued gem !?🐺 Hello KIUCOIN community 🐺 In today idea , I want to show you one of the most popular and also currently one of the most undervalued crypto : WLD As you can see in the weekly chart , WLD is currently is in the falling wedge pattern which is also consider as a bullish pattern meanwhile one the tradeable pattern in the technical analysis pattern . And Also we could see that WLD now is trying to break out from this pattern which could give us a nice long trade ; so let's find the best entry point for it : In my opinion we could enter to a long position now and our first take profit could be around 2.0$ which gives us 1.1 risk/ratio . Also you can hold it in your portfolio as a good project for upcoming ALTCOIN season . 🐺🔥 Don't forgot to follow us on X platform , where you can find daily news and trade . 🐺🔥 👇 = follow us on X
Long
by Kiu_Coin
3
S&P 500 Breaks Wedge Pattern, Eyes 6020 TargetThe S&P 500 has triggered a 64-day-old wedge pattern, signaling the potential for the index to rally towards 6020 in the coming weeks. The pattern remains active as long as the index trades above 5618, with initial support forming at 5685. A sustained move above these levels could confirm further bullish momentum, while a drop below 5618 would invalidate the setup. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
THINKMARKETS:SPX500Long
by ThinkMarkets
GOLD - Price can start to decline to $2520 support levelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Recently price traded near $2475 level, bouncing down to $2438 points, and started to grow in wedge. In wedge, price soon broke $2475 level and then rose to resistance line, but quickly turned around and fell below. Price made a fake breakout of $2520 level, but soon backed up and some time traded near this level. Also, Gold even some time entered to support area, after which it later made a correction to support line of wedge. After this movement, XAU made an upward impulse, thereby exiting from wedge and breaking $2520 level. Now, I think Gold, after upward movement, can start to decline to $2520 support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
13
Gold on the Edge: Rising Wedge Breakdown or Support Bounce?4-Hour Chart: Consolidation Below All-Time High: After reaching the all-time high, the price is consolidating in a rising wedge pattern. This formation reflects indecision in the market, but the overall structure suggests potential for a downward move. Key Levels: 4H LQZ TP1 (2,550.342): A strong support level and a possible target for short positions if the price drops. 4H LQZ TP2 (2,522.172): The second support level, likely to attract buyers if tested. Strategy: If the price breaks down from the rising wedge and fails to hold support at 2,550.342, a move toward 2,522.172 could be expected. A reversal could occur at either of these liquidity zones. 1-Hour Chart: Descending Channel (near support): The price is trending lower after failing to break above the all-time high. The descending channel is not steep, suggesting mild bearish pressure. Support Levels: 1H LQZ (2,542.481): Immediate support for the current descending structure. 4H LQZ (2,522.172): Deeper support, aligned with the broader market structure, giving more room for a potential pullback. Strategy: A break below the 1H LQZ could accelerate the sell-off, targeting the 4H LQZ. Watch for consolidation or buying pressure at these levels, as they are potential reversal points. 15-Minute Chart: Rising Wedge: The price is forming a rising wedge pattern, which is typically a bearish signal, suggesting potential weakness in the uptrend. The price has made lower highs while testing a crucial support zone. Key Levels: All-Time High (2,589.652): The price tested this region but has failed to sustain momentum above it. This could indicate a major resistance level. 1H LQZ (2,542.481): The first level of significant support, serving as a take-profit target (TP1) for short positions. If the price breaks below, it could accelerate toward this level. 4H LQZ (2,522.172): The next key support zone (TP2), which could act as a strong buying area if the price corrects further. Strategy: Watch for a potential breakdown from the rising wedge. A confirmed break below the wedge and support levels could indicate a stronger move downward toward 1H LQZ or 4H LQZ. Overall Summary: Bearish Bias: Across all time frames, the rising wedge formation points to potential bearish pressure, especially with failure to break above the all-time high. Key Levels: The all-time high (2,589.652) remains the major resistance. Watch for reactions around 1H LQZ (2,542.481) and 4H LQZ (2,522.172) for potential support and buying opportunities. Breakout or Breakdown: If the price breaks below the wedge patterns on the 15-minute and 4-hour charts, further downside toward the liquidity zones is likely. However, a rebound could signal renewed bullish momentum. This setup is perfect for monitoring entry points based on key support/resistance levels and the wedge formations' breakdown potential.
OANDA:XAUUSD
by MommaPreneur
EURO - Price can bounce up from wedge, exiting from itHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price entered to rising channel, where it at once made a correction to support line and then continued to grow. In a short time, price rose to resistance line of channel, but at once bounced down, making a fake breakout of $1.1120 level. EUR exited from channel and started to trades inside wedge, where it broke $1.1050 level and fell to support line. Next, price made upward impulse, thereby breaking this level again and later EUR broke $1.1120 level too. Now, price trades near support area, and in my mind, it can fall to this area and then bounce up. After this, price will exit from wedge and continue to move up to $1.1180 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
golden wedge pattern gold price are rising very high for last two years it started two years ago with uk crisis when fed started turning monetary easing by Financial condition. in last two year fed pivot from 75 to 25 hike to doing QE meeting by meeting from november 2022 to march 2023 while now crowd asking fed will cut to make kamala win election. to avoid recession in election year fed blindly ignore economic boomb like condition in market when everything was breaking out gold, bitcoin, silver, sp500 now just few days to election fed will be tightening or easing
VANTAGE:XAUUSDShort
by Sangam-Agarwal
Euro can reach resistance level and then rebound down to 1.1080Hello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price entered to downward wedge, where it at once rebounded from the resistance line, which is located in the seller zone, and started to decline. In a short time price fell to the support line of the wedge, and then tried to grow, but failed and continued to decline to the buyer zone. In the buyer zone, EUR reached the support line of the wedge and at once rebounded up, thereby exiting from the wedge and breaking also 1.1035 level. Then price continued to grow until it reached the 1.1135 resistance level, which it even tried to break but failed and made correction to the support level, and even lower. Later EUR entered to another wedge, where it fell firstly to the support line and then started to grow. In an upward wedge, the Euro rose almost to a resistance level, thereby breaking the 1.1035 level. At the moment, I think that the price reach a resistance level and then rebound down, thereby exiting from the wedge. Also then, the Euro will continue to decline, therefore I set my TP at 1.1080 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
11
The importance of waiting for patterns to confirmGood morning, I am monitoring the AVAX ecosystem and was paying close attention to JOE. When I checked the USDT pair I could notice a possible falling wedge forming: Then, I checked the BTC pair, and I found a possible inverse head and shoulders: So far we have not confirmed any pattern, and the pum that the AVAX ecosystem experienced, is fading, so what I get from here is the importance of confirming patterns. Even if they are right eventually, your funds would be stuck in there, and you would miss other great oportunities.
by JeSuns-
2
EURUSD - Technical Analysis [Short Setup]🔹 EURUSD Analysis on 1HR chart - The current Trend is BULLISH - there is Bearish divergences -Rising Wedge reversal pattern is form 🔹 Trade Plan - Entry Level = 0.67295 - Stop Loss = 1.11500 - TP1 = 1.11030 - TP2 = 1.10790 🔹 Risk Management - First TP is 1:1 - Second TP is 1:2 🔹 How to Take Trade? - Only risk 2% of your portfolio - Take 1% risk entry with 1:1 RR - Take 1% risk entry with 1:2 RR Like and subscribe to never miss a new idea! ✌🏼
Short
by Bountysoul
2
GOLD (XAUUSD): Time For Pullback A sudden breach of the previous record high sparked a significant uptrend in the price of Gold last week, pushing it to a crucial resistance level at 2600. Following a test of this level, the market began to consolidate and formed a head and shoulders pattern on the hourly chart. A break below the neckline of this pattern will be a strong bearish indicator, suggesting a potential retracement from the resistance. To short with confirmation, wait for a breakout of the neckline/support of the range. Targets for this retracement are set at 2569 and 2564.
TVC:GOLDShort
by linofx1
1
GOLD → Aggressive buyers... Ahead of PPIFX:XAUUSD is testing 2500 on the background of CPI data. Bulls actively continue to hold a strong support zone. An ascending triangle is being formed, the target of which is to break the resistance and rise. After the release of CPI data in the US, the focus shifts to PPI and jobless claims data, which will give a new impetus to trading. The CPI data has slightly cooled the increased bets on an excessive interest rate cut by the Fed next week. Despite the pullback, the gold price managed to defend a critical short-term support level around 2500 - 2505, keeping it in a three-week consolidated range. Technically, the focus is on the SMAs, which are actively supporting the market, as well as the liquidity area of 2510, 2500, which the market may test once again on news before heading upwards. Resistance levels: 2530 Support levels: SMA, 2510, 2500 The news may shake the market once again. Strong news may motivate the market to break resistance, but surprising PPI and Initial Jobless Claims data may trigger another sell-off attempt (to liquidity zones) before the price continues its rise. The market continues to focus on testing 2530 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
34
USDJPY → Full readiness to drop to 138.0 - 136.0FX:USDJPY breaks support at 141.68 and hits lows. The dollar is declining after the US election debate, but is still in consolidation ahead of CPI. The currency pair may continue to fall Ahead of CPI, traders expect consumer inflation to fall to 2.5 for the year. This indicator will determine the interest rate cut next week, and more precisely by how much they will cut the interest rates, by 25 or 50 basis points. Technically, everything is inclined to the further decrease of the dollar, which will be reflected on the currency pair. But, we should expect high volatility, within the framework of which, if the bears do not hold 141.68, the price may test 142.2 - 142.8 before further falling to 138 - 136. Support levels: 140.75, 140.25 Resistance levels: 141.68, 142.2, 142.8 Global and local trends are under bearish pressure. Important news is ahead, which may strengthen the fall, or temporarily squeeze the price in the range. Consolidation of the price below 141.68 will be a good sign for the continuation of the fall Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDJPY ;) Regards R. Linda!
Short
by RLinda
6