ALGO is breaking out of the current wedge pattern.ALGO has just broken out of the wedge pattern that it has been in for a minute now, and is looking like it could be getting ready to run. It's likely to go the .15 range, retrace back down to the upper wedge trendline, then continue the move from there.
Good luck, and always use a stop-loss!
Wedgepatterns
Is VERGE (XVG) on the 'verge' of a breakout?VERGE (XVG) is one of only nine ISO 20022 compliant cryptocurrencies and is by far the least well-known of the bunch. VERGE is also currently trading within a nice wedge pattern and seems to be forming what could become an inverted head and shoulders pattern on the 4-hour chart.
This could be a very good sign for VERGE currency!
Good luck, and always use a stop loss!
SHIBA looks to be finally gaining some ground!After three wedges failed to produce a breakout, and with price action continuing downward, creating a very defined price channel, SHIBA has, for the first time since forming the massive breakout flag pattern, broken out of the current wedge to the upside.
This could be a sign of good things to come!
Good luck, and always use a stop loss!
BTC at some support levelsLets look at BTC. Some people have been saying that its getting ready to take off again, so I wanted to do my own analysis.
I've got three indicators I'm using here.
- Wedges/channels (the thin green lines)
- Fibs - the gold colored fib levels
- Wick Strength - the oscilalator at the bottom
First, Wedges.
We can see that price is at the bottom of a wedge/channel. Its been pretty consistent on the plotted wedges that breakouts have been significant. However with the support of the Wick Strength as well as support of the 0.382 fib level, it looks like we might return to the top of the channel rather than crashing through the bottom.
Next, Fibs.
Fibonacci are one of my favorite technicals and popular for a reason. Look at all the times price has bounced right off a near-exact fib level! Recently BTC hit the 0.5 with a STRONG support. And here we are again at the 0.382. Looking left on this line we can see multiple wax and wick bottoms rejecting at this price point in recent months.
Lastly, Wick Strength.
I'm still learning this one as its new, but here's what I've seen. In up markets, Wick Strength is low, because there is constant downward pressure from all the bears. So the top wicks are long, and the bottom wick are short. (Indicating that bulls are stronger since wax is bullish, but bears still have a voice and top wicks are longer than bottom). In down markets, its the opposite, and the Wick Score goes up due to longer bottom wicks by the bulls. Here, Wick Strength is relatively high actually, and we're in a flag price action pattern. Looking like Wick Strength will come down as the market takes off bullish again.
Just at thought! We'll see what happens.
What do you think?
Tesla Continues Consolidation Inside Wedge PatternI am longterm bullish on Tesla for many reasons, however I do believe it will continue to consolidate inside this wedge pattern well into 2025. So, if you're looking to purchase this stock, I believe you have 12 months from now to accumulate at reasonable price levels. It is also interesting to watch the fib retracement levels for short term support and resistance.
ascending broadening wedge in GBPUSDThe weekly candles on GBPUSD point to a clear ascending broadening wedge pattern. The last wave reached the price of 1.3220, which corresponds to the upper boundary of the wedge pattern. I expect another bearish wave to start soon and reach at least the 1.28 area.
DANA GAS_ Next Target is Wedge Pattern Top, Achieve +99% PROFIT DANA GAS PJSC is forming a Wedge Pattern. The Next Target is the Wedge Pattern Top, Offering a chance to Achieve a +99% PROFIT. A Breakout is expected in the market once this wedge pattern is reached. This is Long-Term Analysis, must follow the Trend Continuation Technique. Guess the 2nd Target ?????
Support me; I want to Help People Make PROFIT all over the "World".
Long on LLCLLC is currently in a descending wedge with bullish RSI divergence and has a nice crossover on the MACD, it has not had a breakout yet but will look for a little 10% move to the top of the wedge. Also looking for a gap fill but will see what it does closer to resistance at the top wedge. Good luck 🍀
NINTENDO _ Rising Wedge Patter Target _ Achieve +100% PROFITRising Wedge Pattern forming and Expecting a Breakout. If Breakout above the Rising Wedge Pattern, market approaching the Pattern Target at price JPY 18,160. Offering the potential to Achieve a 100% PROFIT. This is Long-Term Analysis, must follow the Trend Continuation Technique.
Support me; I want to Help People Make PROFIT all over the "World".
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".
NRX - Nurexone trend analysis since bull run commencing in 2023Having a look at Nurexone trends alongside Point of Control & Ichimoku Cloud indicators. Current bullish pennant formation detected following a successful Downward Wedge.
*Next move: Trace Fibonacci retracement, indicate loss % between ATH and support levels, future projections
MURATA _ Next Target +30% _ Rising Wedge Pattern Top at JPY 4600Rising Wedge Pattern forming and Break All Time High in Murata Manufacturing. So Next Target is Wedge Pattern Top (or) Resistance line of Wedge Pattern. And Offering a Chance to Make PROFIT of +30 % or more.
Support me; I want to Help People Make PROFIT all over the "World."
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.
EURUSD will have a greater chance of rising in the next few tradH4: Since June 17, EURUSD has been in the narrow range of 1.6080-1.0780, and the pattern has formed a "Falling Wedge". From this, it can be judged that EURUSD will have a greater chance of rising in the next few trading days.
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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!
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.