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Wedgepatterns

CANON _ Breakout after 14 years _ Target is JPY7260 ,+60% PROFITIn Canon, a Falling Wedge Pattern formed and Breakout. The market is going to Breakout above the "Strong Resistance" level after 14 years, it indicating a significant bullish trend. Offering the potential to Achieve a 60% PROFIT at the price of JPY 7,230, which is also the previous all-time high. If again Breakout the All-Time High, the market could approach the Wedge Pattern Target at JPY 8,750, Resulting in a Total Potential Profit of 94%. Support me; I want to Help People Make PROFIT all over the "World".
TSE:7751Long
by SasikumarMani
HBLPOWER: SYMMETRICAL WEDGENSE:HBLPOWER stock is currently forming a symmetrical wedge pattern following a significant rally, indicating potential consolidation before the next major price move. This pattern suggests a period of indecision in the market, with equal pressure from both buyers and sellers. A breakout above the upper trendline would signal a continuation of the previous uptrend, targeting 770. Conversely, a breakdown below the lower trendline would indicate a reversal, suggesting a possible decline towards the stop loss at 505. Traders should watch for a decisive breakout or breakdown to confirm the next direction.
NSE:HBLPOWERLong
by VanshikaUdeshi
Is this a wedge I see before me?I have noticed that the rally since 2022 lows is forming itself into a decent rising wedge pattern on the SPX. There is also a small RSI divergence in place that has since migrated to the hourly time frames. This could be indicative. There is also a disappointing looking NFP report in the pipeline this week. I have no active trade, and I will not take a position on this until it confirms (likely to be later in the month if it does confirm) however, I believe that the pattern here which has 3 touchpoints at resistance and 3 touchpoints at support (suggesting the pattern is well defined) warrants attention from traders. Watch out and trade safe!
SP:SPXShort
by RogueEconomics
INDOTECH - Symmetrical wedge patternNSE:INDOTECH stock has formed a symmetrical wedge pattern following a strong rally, indicating a potential continuation or reversal. Symmetrical wedges often signal consolidation before a significant price move. If the price breaks above the upper trendline, it suggests a continuation of the upward trend with a price target of 2450. Conversely, a break below the lower trendline could indicate a reversal, warranting a stop loss at 1600 to mitigate potential losses. Trading Strategy: Bullish Breakout: Entry Point: Consider entering a long position on a confirmed breakout above the upper resistance trend line, ideally accompanied by increased volume. Target Price: Measure the height of the wedge at its widest point and project it upwards from the breakout point. Stop Loss: Place a stop loss below the lower support trend line to manage risk. Bearish Breakdown: Entry Point: Consider entering a short position on a confirmed breakdown below the lower support trend line, with accompanying high volume. Target Price: Project the height of the wedge downwards from the breakdown point for the target price. Stop Loss: Place a stop loss above the upper resistance trend line.
NSE:INDOTECHLong
by VanshikaUdeshi
FUBO "B" wave bottoming? First upside target 4.85USD?This is a followup idea on my previous one where we "idezied" the bottoming process, which so far has been manifested. So far I see it as a huge (A)(B)(C) forming to the upside, hence the choppiness, which overall LIKELY will stay as 3 wave structure hitting a several year upside target of between 22 - 84 USD, too soon to projectile anything more proper target. Can it be something even more bullish? Yes, but it has to proove a lot in the upcoming years. In that case it is LIKELY to be a huge overall diagonal. What I lean towards is that we are in the huge white (A) wave, unfinished still, within that we likely to have a big ABC structure, in which the "A" wave likely completed, and we are in the "B" wave down. I have already removed the 0.382 and 0.5 fib retracement levels, generally we are reaching/has reached a very good risk/reward ratio already for the long term. As this could be the b wave down, it is quiet tricky, morphing, wavecount changing and evolving, and likely to have more choppiness. Even it COULD undershoot as still be valid, hence I have carefully, but constantly scaling back-in for long Next support levels to watch: 1.65-1.50 After that: 1.30-1.20 (less likely, but CAN happen) After that: 1.16-1.05 (even less likely, but CAN happen) Currently we are below all meaningfull moving averages (9/21/50/180&200 day MA's), but within support. I have added a "bearish" route/count as well, for the very long term I am still bullish even in that scenario, however likely to have 1 or 2 more swingdowns deeper to complete the yellow route big wave 5, and THEN (assuming no banktrupcy) would have at least a very strong correction to the upside.
NYSE:FUBOLong
by tommtajlor
4
Bullish falling wedge pattern with Gold #XAUUSD Timeframe 2H Gold dropped from 2450 to 2310, now she is trying to build a bullish falling wedge pattern to reversal ( end of iv ) Elliot Wave has many scenarios but this zone has high R/R for this case, it is invalid if Gold has the new low ( < 2314) if I am correct gold must break the green line and the Close price must stand above the yellow line. TP1 2398 TP2 2421 TP3 open Worst case if stop out ( tight stop loss) Gold will drop below 2280 to 2228 I will share more in X.
PEPPERSTONE:XAUUSDLong
by theoris
AUDUSD Long Opportunity: Leveraging Bullish Patterns for StrateHello, fellow traders! AUDUSD presents an enticing opportunity for long positions, backed by the confirmation of a Bullish Fib-3 Bat Pattern on the 4-hour chart and a Bullish Wedge Breakout on the 1-hour chart. Let's explore three effective ways to engage this trade: 1. Retest on Support Line at 0.6613 (1-Hour Chart) - Strategy : Wait for a retest of the support line at 0.6613 on the 1-hour chart and enter a long position upon confirmation of support. - Rationale : This support level offers a favorable risk-reward setup, providing a low-risk entry point for bullish trades. 2. Retest of the 1st Trend Line (1-Hour Chart) - Strategy : Look for a retest of the first trend line on the 1-hour chart and initiate a long position if the price bounces off this trend line. - Rationale : A successful retest of the trend line validates the bullish momentum, offering an opportunity to enter the trade with confidence. 3. Retest of the Fib-3 Bat Pattern at 0.6600 (4-Hour Chart) - Strategy : Enter a long position at the 0.6600 level, which corresponds to the Fib-3 Bat pattern and serves as a significant price-action level. - Rationale : The confluence of the Fib-3 Bat pattern and the key price-action level enhances the reliability of this entry point. Risk Management - Set appropriate stop-loss levels for each entry strategy to manage risk effectively. - Consider position sizing based on your risk tolerance and overall trading strategy. - Monitor the trade closely and adjust your strategy if market conditions change. Final Thoughts With a Bullish Fib-3 Bat Pattern and a Bullish Wedge Breakout in play, AUDUSD offers multiple opportunities for long positions. By strategically entering the trade using any of the outlined methods, traders can capitalize on the bullish momentum with confidence. Happy trading, and may the markets be in your favour!
Long
by RaynLim