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Wedgepatterns

GBPJPY - Looking for shorts Explanation: I'm expecting GBPJPY to sweep the highs grabbing liquidity to then see a further downside! Ain't looking for any sells right now until I see a BOS, Once this has happened I can then confirm sellers have stepped into the market and it's time to follow the move down. Will be looking for sells on the retest into a new Order Block / Area of supply ! Educational Tip: Rising Wedge A rising wedge is when price is squeezing upwards into a potential reversal area. As you can see the impulsive are getting smaller and so are the correction. Price is distributing order ready for the next move in the market !
Short
by Ryansanalysis
2
Bitcoin: Running Wedge coming up ??Possible Running Wedge, if so the target could be 70,000 for this summer There, we would be in the selling zone, if a break up above 70k is confirmed, a new bullish phase could start again, if instead the resistance (the high side of the wedge) is confirmed, the bearish target could be 40,000. It is interesting to note how the dotted trendlines perfectly respect trend breaks and rebounds, first on the upper side and then on the lower side ...... will it be possible to draw another one in the coming months? And guess the exact moment of bullish or bearish breakout? ETH is identical
COINBASE:BTCUSD
by dan68608
FTMUSDT wants to go higher?The price is testing the confluence zone on 1.4$ zone. as you can see on the upper chart, the price is testing the daily resistance after the breakout from the falling wedge on the lower chart, on 4h Timeframe, the price is creating a rising wedge after the flip of 1.3$ resistance as I said in my previous analysis How to approach? the price needs to invalidate the rising wedge (usually is an inverse pattern) and retest the upper trendline as new support. If and only IF the price is going to confirm the flip, we can apply our rules to open a new long position. The next valid resistance is 1.6$ where the market has 0.618 Fibonacci level resistance
FLong
by InkyGrip
2
UTKUSDT is creating a falling wedgeThe price is creating a falling wedge on the daily timeframe, and the market retested the daily support on the dynamic support and static on 0.17$ On the 4h timeframe, the price is creating an ascending channel and the market is trying to have a breakout from the daily resistance on 0.26$ How to approach? If the price is going to have a breakout and retest the previous resistance as new support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
8
ROSEUSDT is going to create a falling wedge The price had a huge bearish impulse, bounced on the weekly support on 0.3$ and had a new breakout. The price retested the previous support as new resistance and the market went to test again the previous weekly support on 0.2$. Connecting the lows and the highs, the price is creating a falling wedge exactly on the weekly support. How to approach? We are monitoring the price, we could see a double bottom on the weekly support. IF the price is going to have a breakout from the falling wedge and 4h resistance, and turn the previous resistance into new support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
LTCUSDT is creating a falling WedgeThe price bounced on the monthly support of 100$ after a false breakout from it. On the daily timeframe, the price is creating a falling wedge exactly on the monthly support. In 4h timeframe, the price is testing the resistance on 115 after a first breakout. How to approach? If the price is going to have a breakout from the 4h resistance and dynamic daily resistance and retest 120$ as new support, according to Plancton's rules we can look for a new long position. A breakout is not enough, you need a strategy ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
6
OCEANUSDT is creating a falling WedgeThe price got rejections from the descending dynamic resistance on the daily timeframe and bounced on the weekly static and dynamic support on 0.4$ On the daily timeframe the price is creating a falling wedge on the weekly support and now the price is trying to have ha breakout from the upper trendline and static resistance on 0.52$ On the 4h timeframe, the price is creating a rising wedge inside the main structure. The rising wedge is a bearish pattern, but, if the price is going to create a false breakout, we could see a breakout from the daily resistance. The setup is valid only after the daily breakout with retest and according with Plancton's rules –––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
OLong
by InkyGrip
12
BTCUSDT is creating a rising wedge?Bitcoin had a bounce from our weekly support after a dump due to war, the price created a V shape. On the 4h Timeframe, the price is testing a key level on 39600 on the daily resistance on 0.5 Fibonacci level. If you look on the left you can see an accumulation before the previous bearish impulse, it means that this area is so strong to break. the previous candle created a false breakout, no bullish momentum followed the candle, and the Volume is decreasing. If we exclude the nervous candles about the war, we can identify a rising wedge. A rising wedge with two up-sloping trend lines. The volume trend usually slopes downward. How to approach? We are monitoring the price, a clear breakout of 38300 with retest should be a clear sign for a new bearish impulse, 37k is the first 4h support. The setup is invalidated if the price is going to have a breakout and retest of 42k –––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
Short
by InkyGrip
12
INJUSDT is testing the 6$, ready for the breakout?The price is creating a falling wedge on the 4h timeframe inside a descending channel. The market is testing the daily resistance on 6$, it's a key level A falling wedge marks the corrective phase in this measured move-up formation. Note the receding volume trend of the wedge. How to approach? IF the price is going to have a breakout from the 6$, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
4
GALAUSDT is testing the 0.786 Fibonacci levelThe price is testing the 0.786 Fibonacci level on the daily timeframe after a breakout from the falling wedge and a rejection from the daily resistance on 0.4$ On the 4h timeframe, the price bounced exactly on the previous support and dynamic one on 0.2$ How to approach? IF the price is going to lose the support and retest the previous support as new resistance, According to Plancton's strategy , we can set a nice order. The setup will be invalid above 0.3$ ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
14
SXPUSDT is testing the daily resistanceSXPUSDT is testing the daily resistance inside a falling Wedge. IF the price is going to have a breakout from the daily resistance and retest as new support, According to Plancton's strategy (check our Academy ), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure.
Long
by InkyGrip
18
Bitcoin’s re-test of the break outLooks like the wedge I was talking about yesterday has broken out but got a rejection from the 4h symmetrical triangle former support. It it likely in my opinion that BTC will come down to re-test the breakout level. But the volume is a bit lagging behind in my opinion. I think I’ll play the re-test of this bounce and it will tuen out to be something like this in my opinion. The r/r will be at aroun 3.12 or something so it’s a nice trade to take. Let me know what you guys think, keep in mind NFA!
FTX:BTCPERPLong
by Awinish
1