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Wedge

MarketBreakdown | USDCAD, NZDUSD, CRUDE OIL, DXY Here are the updates & outlook for multiple instruments in my watch list. 1️⃣ #USDCAD daily time frame 🇺🇸🇨🇦 The pair is currently testing a significant daily structure resistance. The intraday price action looks bearish at the moment. I think that the pair may start a correctional movement from the underlined blue area. 2️⃣ #NZDUSD daily time frame 🇳🇿🇺🇸 The market is approaching a significant weekly resistance cluster that is based on 2 important historic highs. I think that we may see a correctional movement/pullback soon. 3️⃣ #WTI CRUDE OIL daily time frame 🛢️ Crude Oil updated a low on a daily, violating a key horizontal support. It confirms the strength of the sellers. The market may keep trading in a bearish trend within the boundaries of the underlined channel. 4️⃣ DOLLAR INDEX #DXY daily time frame 💵 We see a nice correctional movement after a strong bearish impulse. The market is currently trading within a bearish flag pattern. Bearish breakout of the support of the flag will be a strong bearish trend-following signal. Do you agree with my market breakdown? ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
1
XRP Weekly Breaking Through Lines I’ve Had Drawn For Years Recent price action has sent the weekly candle above this multi year triangle I have drawn on the chart here. I have left this wedge formation untouched for years. It has been interesting to see it following so well. With every day the sentiment towards seamless transactions and secured digital money are more of a reality. All while fiat is silently hyper-inflating. I am bullish and long especially if the weekly candle closed above the line of resistance. I will re-evaulate upon the weekly close and following weeks.
BITSTAMP:XRPUSDLong
by observingthetrade
The "Wedge" Confirms the "Nod" - EUHere I have EUR/USD on the 4 Hr Chart! The Head & Shoulders Reversal Pattern took all mid-July to form with Price finally Breaking the Low @ 1.08715 and giving us the New Lower Low @ 1.08256! Price has been working back up to test the Break of Confirmation of Pattern but remains unable to break above, and with this Price Action, we begin to see a Bearish Wedge formation!! This Wedge is a Continuation Pattern and is textbook confirmation to see the Head & Shoulders being true to the Reversal Behavior! *As long as Bears remain solid at the 1.087 level, the Bearish Break to the Rising Support of the Wedge will be Confirmation of the Wedge Continuation Pattern itself, therefore strengthening the Bearish Bias on the Pair to CONTINUE! -We see Price on the RSI is remaining BELOW the 50 reassuring Bearish Pressure -BB Trend Printing strong Red Bars -Fundamentals- EUR - CPI's & GDP (Tue), CPI's (Wed), PMI's (Thur) USD - Consumer Confidence & JOLTS (Tue), ADP Non-Farm/GDP/Pending Home Sales/Funds Rate (Wed) Unemployment Claims ISM Manu. PMI (Thur) Average Hourly Earnings, Non-Farm Employment, Unemployment Rate (Fri)
Short
by Novi_Fibonacci
USDJPY Analysis==>>Falling Wedge PatternUSDJPY is moving in an Ascending Channel and Falling Wedge Pattern . According to the theory of Elliott waves , USDJPY seems to have succeeded in completing corrective waves in the Falling Wedge Pattern . I expect USDJPY to rise to at least the first target after breaking the upper line of the Falling Wedge Pattern . U.S.Dollar/Japanese Yen Analyze ( USDJPY ), 1-hour time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
24
STORJ / USDT → Wedge breakout with trend change target BINANCE:STORJUSDT shows positive dynamics to the change of trend and the beginning of bullrun. The coin is moving to the phase of implementation of a pattern that can change the direction of the market. Bitcoin sets the general trend of the cryptvault market. The general fundamental background, which is formed around BTC and ETH sets positive prospects for other altcoins, which can still surprise us. Technically, STORJ is coming out of consolidation and is essentially entering the distribution phase. A false break of the key resistance is formed, which can be broken after the next retest. High probability of a small correction before a subsequent attempt to break through this zone and enter a new range of 0.500 - 0.900. Resistance levels: 0.4882, 0.6034 Support levels: 0.5 Fibo, 0.3530 The task of the bulls is to keep the defense above the key support, if it succeeds, the next target will be the breakout of resistance and bullrun. Regards R. Linda!
Long
by RLinda
1
ETHEREUM → False breakdown of MA-200 could lead to a BULLRUN ↑ BINANCE:ETHUSD in the correction phase, testing zones of interest (0.5 fibo and MA-200), forming a false breakdown, which in general can lead to a strong upward movement supported by strong fundamentals. Fundamentally, ETH is quite positive. ETH-ETFs were launched on July 23 and continue to gain momentum. The correction, which has been observed for the last two days is mainly due to the outflow from GrayScale (exactly the same scenario was with BTC), also a slight pressure is created by the situation with Mt.Gox, but against the background of BTC transfers to exchanges and their distribution among its debtors, bitcoin is strengthening, such behavior of the flagship indicates support for eth. Technically, the price is forming a correction to 0.5 fibo relative to the bullish momentum as well as a retest of the Daily MA-200, forming a false breakdown with a fairly aggressive buyback, indicating the presence of a strong buyer who is not ready to go down beyond $3000. Resistance levels: 3357, 3540 Support levels: 3200, MA-200 The main task of the bulls is to keep the defense above the zone of interest at $3200. Further it remains to wait for resistance retest with the purpose of its breakthrough and further bull run to $4000 - $4500 - $4900. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:ETHUSD Regards R. Linda!
Long
by RLinda
15
XRP → The moment before “to the moon” ↑BINANCE:XRPUSDT is the strongest of the market. As ETH & BTC fall, ripple is holding quite positively as traders are starting to believe in growth amid rumors... Ripple CEO recently said that he expects a legal resolution to the situation between the SEC and Ripple “very soon” Many are speculating that the SEC's closed-door meeting to finalize the case against Ripple could take place today - July 25. Against this backdrop: Trading volumes are rising, price is hitting local highs, whales are accumulating XRP Technically, it is worth paying attention to the 0.6378 - 0.5712 range. If breaking the resistance fails, the price may test liquidity below the support before subsequent growth. Resistance levels: 0.6378, 0.7440 Support levels: 0.5712, 0.5100 If the trial finds its denouement, it will give a second life to the coin. A break of the range resistance - 0.6378 will open a new path.... Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:XRPUSDT ;) Regards R. Linda!
Long
by RLinda
25
The last bullish chance of NOTCOIN in short-term !!🔵We have a Bullish Structure here NOTUSDT formed a falling wedge on 1D timeframe🤔 Up we go if we do breakout . The price is at the bottom of the channel and also in the wedge, these pressures will eventually make the price rise. ✨Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅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
3
Litecoin May Revisit ATHs for 500%Litecoin continues to hold this long-term diagonal support, having only once wicked below it during the March 2020 black swan. During the last two months of June and into July, it re-tested that diagonal and got quickly bought up. Chances look good that it goes for another test of the horizontal resistance around 408 dollars, or at least most of the way there, which would be about 500% from our low over the last two weeks. Lose the diagonal support and this trade is invalidated. Hold above it and I'll keep it active.
COINBASE:LTCUSDLong
by dudebruhwhoa
ADA/USD secondary trend. Wedge. Mirror level.Local trading situation. A wedge is being formed. The price is at its resistance. Local targets in case of a breakout, as well as in case of further formation of a wedge in the zone of previous accumulation (redistribution is more correct). It is also worth noting that the price is also near the accumulation - redistribution range (the average price of the set is highlighted in green). This redistribution zone is accumulation on a larger scale of the chart Main trend. 1 month ADA/USD Main trend
Long
by SpartaBTC
5
GBPUSD: Your Trading Plan For The Week↪️Here is the trading plan for ⚠GBPUSD for this week. The market is nearing an important daily support level. To confirm a bullish signal, look for a breakout above the resistance line of a falling wedge pattern on the 4-hour chart. A strong signal will be given if a 4-hour candle closes above this trend line. If this bullish trend continues, the price could reach the 1.2933 level. However, if the pair sets a new lower low, the setup will no longer be valid.
Long
by linofx1
2
Ethereum ETFs Launched — Why is ETH's Price Dropping?The well anticipated launch of the Ethereum (ETH) spot ETFs in the U.S. has not yet led to a significant price increase for ETH, and in fact the price has declined since the ETFs were approved and launched. What’s happening with Ethereum? - A Technical Analysis Before discussing about the major factors that triggered the bearish downturn, it is important to analyse the technical aspects and price action of Ethereum. After reaching a 2024 all-time high (ATH) of $4093.92, ETH experienced a bearish divergence. This was followed by the formation of a falling wedge pattern, which broke out following news of a potential ETH ETF approval. Despite attempting to retest the aforementioned ATH, ETH fell, forming a parallel regression channel. It briefly broke below the 200-day EMA support level, raising concerns. However, ETH quickly recovered and is currently retesting the 200-day EMA support, showing signs of a bounce back. If this support level fails, ETH may revisit its major demand zone between $2844 and $2923. Traditional indicators show mixed signals. The MACD is turning bearish, while the RSI remains neutral. The near-term trend will likely depend on market sentiment related to the potential ETH ETF inflow/outflow. If ETH holds the support levels, a bullish divergence could be on the horizon Now let us examine the major events that triggered the correction of Ethereum: Sell-the-News Event The approval and launch of the ETFs may have triggered a classic "sell-the-news" event, where investors sell their ETH holdings to lock in profits after the long-anticipated approval. With the ETH reaching $3,500 in July, some investors likely wanted to capitalize on the euphoria around the ETF launch by selling. We saw a huge momentum candle before the ETH ETF news came out. The lowered impact on the prices Outflows from Grayscale Ethereum Trust The Grayscale Ethereum Trust (ETHE) experienced large outflows of $484 million on the first day of ETF trading, as investors redeemed their ETHE shares. This selling pressure may have offset the buying demand from the new ETFs. Liquidation of Long Positions Over $94 million in long ETH positions were liquidated in the 24 hours after the ETFs launched, indicating traders who were betting on an ETH price increase got squeezed out. This likely exacerbated the selling pressure. Broader Market Downturn The decline in ETH price coincided with a broader downturn in the crypto and US- European stock markets, with Bitcoin dropping 2.5% and the Nasdaq having its worst day since late 2022. This suggests macroeconomic factors were also weighing on ETH. Delayed Inflows While the ETFs attracted $107 million in net inflows on launch day, this was only 16% of the $655 million Bitcoin ETFs attracted on their first day. The full impact of ETF inflows may take more time to materialize. Stagnant Fundamentals Some analysts argue Ethereum's fundamentals have been stagnant or declining, making it more vulnerable to selling pressure compared to Bitcoin The ongoing Mt. Gox repayments and distributions may also be weighing on the market. In summary, the combination of a "sell-the-news" event, outflows from ETHE, liquidations, macroeconomic factors, and delayed inflows likely all contributed to the decline in ETH price despite the successful ETF launches. However, analysts remain optimistic that ETH will resume its upward trend in the coming weeks.
by Mudrex
3
DOGE → The bulls are overcoming resistance. Trend change?BINANCE:DOGEUSDT is breaking trend resistance and on W1 the bulls have kept the price above the risk zone. Prospects are emerging for a possible rally.... The 0.1-0.05 area is the bottom of the market. Strong accumulation is forming in this area. The price left it back in the spring, but the recent retest showed that the bulls are not ready to let the price beyond 0.106, which generally determines the medium-term prospects. On D1, the price is breaking the trend resistance of the Wedge pattern, forming a small rally to 0.1437. If the bulls hold their positions and defenses above 0.126 - 0.1200, the market will retain its bullish phase, thus we can soon see a breakout of the local high with a subsequent rise to ATH Resistance levels: 0.1437, 0.1657 Support levels: 0.126, 0.12 There is no fundamental analysis, but technically there are good prospects. Various services are showing a spike in whale activity in DOGE, which could signal as increased interest. I expect a positive outcome from the bulls with a subsequent rally to the zones of interest Rate, share your opinion and questions, let's discuss what's going on with ★ DOGE ;) Regards R. Linda!
Long
by RLinda
6
AUDUSD: Bearish Outlook For Next Week 🇦🇺🇺🇸 AUDUSD broke and closed below a key daily structure support. After its violation, the pair started to recover steadily within a rising wedge pattern. Retesting the broken structure, the price formed a double top pattern. After that, the market violated both the neckline of a double top and a trend line of a rising wedge, giving us a strong bearish confirmation. We can expect a bearish movement on Monday. Goals: 0.6537 / 0.652 ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
2
OP/USDT Secondary trend. Wedge. Pivot zones. 27 07 2024OP/USDT Secondary trend. Wedge. Pivot zones. 27 07 2024 Logarithm. Time frame 3 days. A descending wedge is forming. The price is near the dynamic Gann support (reaction from it), but still in the range of the descending wedge pattern. The reaction in this resistance zone will determine the trend for the near future. On the chart, I have specifically shown the minimum percentages of the two key reversal zones for the trend to local resistance levels, for the potential of option A and B. Major trend. OP/USDT Major trend. 07 2024 Time frame 1 week.
Long
by SpartaBTC
1