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Wedge

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
Falling Wedge Sees Bullish Order Block! - EUHere I have EUR/USD on the 4Hr Chart! EU Bears have been pulling price down forming what seems to be a Falling Wedge since the end of August but could the Double Bottom made by the Sell-Side Liquidity and New Swing Low be a sign that Price is loading up to make its Bullish Break?! Now we see Price after being rejected from the Falling Resistance, descending to the Break of Structure @ 1.10548 and the Order Block responsible for sweeping Sell-Side Liquidity @ 1.10437 being the Entry Range for when Price comes down and Successfully tests the Order Block! *This rejection also creates a Higher High or disruption in the Downtrend suggesting power transfer from Bears to Bulls. Now another big tell is the Bullish Divergence between the RSI and Lows of Price testing the Falling Support! Also the presence of Bears in the BBTrend seems to be dwindling with each Low created where you see the collection of Red Bars shrinking! Fundamentally, USD has Retail Sales on Tuesday (Sept. 17th) and Federal Funds Rate / FOMC Meeting on Wednesday (Sept. 18th) with expectations for Rates to start being cut!
Long
by Novi_Fibonacci
EURO - Price can little grow and then continue fall in channelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 A few moments ago price entered to wedge, where it at once bounced from resistance line and fell to support line. Then price bounced up from this line and rose higher than $1.0900 level, after which reached resistance line of wedge. Next, EUR corrected, after which continued to move up inside wedge and later price exited from this pattern. After this, price entered to falling channel, where it at once rose higher than $1.1155 level, but soon broke it again. Euro continued to decline inside falling channel until it reached support line, after which it recently bounced up. Now, I think price can make a small movement up and then continue to decline to $1.0975 support line of channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
4
SPELL Did 50X in 3 Month in 2021, Can It Repeat This Move?In 2021 the token started trading in the final phase of the bull cycle so it's unlikely to be that fast, but who knows? Anyway, it's a pretty good token to hold in the following months and the picture is very similar to my FIDA post. Price action holding support on an important level, stable weekly RSI moving sideways. SPELL/BTC ratio is in a falling wedge and looks ready for a reversal (breakout not confirmed yet): Max target: $0.029.
CRYPTO:SPELLUSDLong
by function_mechanic
LINK — Approaching a Critical MomentChainlink (LINK) is again about to challenge the upper boundary of its descending channel. This barrier has been in place for most of 2024. Each time LINK tested this upper trendline, it faced rejection. However, the pressure is building for a potential breakout. Key Technical Points To Watch Descending Channel: LINK has been stuck in a descending channel, continuously forming lower highs and lower lows. Resistance: A breakout above the descending channel marks the first and most crucial step. However, LINK still faces multiple resistance levels on its journey higher. As a first challenge, LINK has to break past the $12–$14 zone, which has acted as strong resistance in the past. Mid-Term Target After A Successful Break Out Breaking out of the descending channel should ignite a massive upward move. The mid-term target for this breakout is around $28, representing a substantial rally from current levels. Intermediate Resistances On the way to $28, LINK will need to clear several hurdles: The $14 resistance level (historical rejection zone) Given previous price action, the $16–$18 range could act as a barrier. What Else You Need To Know? Watch the Volume: A breakout without a significant volume increase may lead to a false breakout. Market Sentiment: Logically, the broader crypto market sentiment will also play a crucial role in LINK’s performance. If Bitcoin and Ethereum continue showing strength, it could provide the tailwinds needed for LINK to make a decisive move.
Long
by ben_walther
2
MEW — Testing Key Resistance Within a WedgeMEW has been trading within a descending wedge pattern, which typically signals a potential reversal once broken. Currently, MEW is approaching a critical resistance level at $0.0048, which has repeatedly acted as a rejection point. 1️⃣ Key Technical Points • Wedge Formation: MEW consolidates within a descending wedge, gradually tightening its range. • $0.0048 Resistance: The $0.0048 level remains a crucial barrier. MEW has tested this level multiple times without breaking through. • If MEW can decisively clear this resistance, the next move could target the upper trendline of the wedge, around the $0.0055–$0.0060 range. 2️⃣ Potential Breakout If MEW breaks above the upper trendline, a more significant rally could ensue. The next target is likely to be around $0.007 and potentially higher. 3️⃣ Risk of Rejection If MEW fails to break the $0.0048 resistance, we could see another pullback toward the wedge's lower range or continued consolidation within this tight structure. 4️⃣ Summarized MEW is currently trading at a critical juncture. The $0.0048 resistance is the fundamental level to watch in the short term. If it breaks, MEW could rally toward the upper trendline and beyond, potentially targeting $0.007. However, caution is advised if it fails to clear this level, as another rejection could lead to further consolidation or a retest of lower levels within the wedge.
Long
by ben_walther
ROSE/USDT: FALLING WEDGE BREAKOUT! 70% POTENTIAL PROFIT!!Hey everyone! If you enjoy this analysis, a thumbs up and follow would be greatly appreciated! ROSE looks good here. It breaks out from the falling wedge-like structure in the daily time frame and is currently, retesting the wedge. Buy some here or you can long with low leverage. Entry range:- $0.052-$0.055 Targets:- $0.066/$0.076/$0.086/$0.096 SL:- $0.0465 Lev:- Use low leverage (Max 5x) What are your thoughts on ROSE's current price action? Do you see a bullish pattern? Share your analysis in the comments below!
Long
by CoreCrypto1
Solana Name Service (FIDA) — a 45x opportunityNote that the project was previously known as Bonfida but renamed to Solana Name Service. Price action has been building some structure on an important support level since July. Weekly RSI has stabilized at 40 and is moving sideways. Falling wedge breakout against Bitcoin: Max target is at $10 which gives up to 4500% potential. Also, since it's a Solana ecosystem project, it gives indirect exposure to Solana which is a great thing considering all the hype around it. Like the idea? Boost it! Have an opinion? Leave a comment!
CRYPTO:FIDAUSDLong
by function_mechanic
3
BITCOIN - Price can start to decline inside rising channelHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 A few moments ago price entered to rising channel, where it reached $61800 level, broke it, and continued to move up. Price reached resistance line, then it turned around and started to decline and soon exited from channel. Next, price continued to decline in wedge, where it declined lower than $61800 and $55700 levels, breaking its. Then BTC reached support line of wedge and then started to grow inside another rising channel. In this channel, price broke $55700 level and at the moment it trades near resistance line of channel. Possible, BTC can reach resistance line of channel and then start to decline to $55500 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon