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Wedgepatterns

WAVESUSDT is testing the supply zone inside a rising wedgeThe price had a nice breakout from the descending channel on the daily timeframe. After the breakout the market had another breakout from the static daily resistance with volume on 1.8$ area. on 4h timeframe the price is testing the supply zone, the 2.5$ area is a key level for WAVES, and now the market is creating a rising wedge. A rising wedge is a bearish chart pattern consisting of two converging trend lines, with the first line connecting the recent lower highs and higher highs, and a second trend line connecting the recent lows. The resulting shape looks like a triangle that is angled upward. The opposite of a rising wedge pattern is a falling wedge. What's next? If the price is going to lose the local support and retest it as new resistance we could see a retracement until the previous daily support on 2$ area
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by InkyGrip
6
APEUSDTHello dear friends On the daily time frame, the positive divergence of the RSI with the downtrend line has created a bearish wedge pattern for us. Until the $5.584 range is fully consumed, the bullish outlook is weak. But if the range of $2.618 is maintained, we can hope for the completion of the wedge pattern. On lower timeframes, the drawn bearish scenario is very likely. However, if the range of $2.618 is maintained, the possibility of a bullish scenario will also be strengthened. We would be happy to hear your comments
by FiboTech
2
Ethereum breakout soonEthereum is creating a textbook wedge pattern, indicating a breakout soon. The only question remains, to which side? In my experience, these types of patterns are bad in prediction the direction of the next move. The way I use them is to guess on when the next move may occur. And as far as i'm conserned, we're nearing the end of this pattern, indicating we can expect something to happen this month. Now to give an indication for a direction: my bias is actually to the upside. We'll get a confirmation when the price is able to break the resistance zone. If we see a rejection, then the price is more likely to break bearish. Fetch Trends indicator may also flip to an uptrend by tomorrow, giving a higher probabilty the price will breakout to the upside. If you turn on the Fetch Trends indicator, and turn on the moving averages in the settings, then you're able to see that we may flip bullish tomorrow. You're able to find the indicator here .
COINBASE:ETHUSDLong
by FetchTeam
1
📈 4 Common Bullish Patterns🟢 RISING THREE "Rising three methods" is a bullish continuation candlestick pattern that occurs in an uptrend and whose conclusion sees a resumption of that trend. This can be contrasted with a falling three method. The first bar of the pattern is a bullish candlestick with a large real body within a well-defined uptrend. 🟢 FALLING WEDGE The falling wedge pattern occurs when the asset’s price is moving in an overall bullish trend before the price action corrects lower. Within this pull back, two converging trend lines are drawn. The consolidation part ends when the price action bursts through the upper trend line, or wedge’s resistance. 🟢 BULL PENNANT A pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend line. Pennants, which are similar to flags in terms of structure, have converging trend lines during their consolidation period and last from one to three weeks. 🟢 ASCENDING TRIANGLE An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The breakout can occur to the upside or downside 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work , Please like, comment and follow ❤️
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Education
by QuantVue
32
NZDUSD > Possible Move and How to Trade!!Analysis of #NZDUSD Hi traders, today we will have a look at #NZDUSD The NZDUSD consolidates inside this beautiful wedge pattern, for consolidating patterns there are two ways to trade. the aggressive way is to trade the inside of the pattern, the conservative way is to wait for a confirmed break on either side, then enter with the direction of the break I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
by TheTradersAvenue
12
📉XAUUSD 4H analysis: S01E01📈FOREXCOM:XAUUSD OANDA:XAUUSD Gold analytical series starts today Hello Traders, First take a look at my previous ideas. If the price breaks the yellow box, a short position has a good chance of winning. (You can enter in several steps) If the price receives good support in the indicated area, gold is expected to rise to a higher level Don't forget to risk-free your positions. Please share ideas and leave a comment, Let me know what's your idea. CrazyS✌
FOREXCOM:XAUUSD
by CrazyS
4
Forget about chart patterns! Hello, my dear friends and happy New Year! I wish you to be healthy and reach all your goals in trading and not only! Never give up on this difficult way which we are going to overcome together! Today we have a very important topic. How to use Elliott waves instead of classical chart patterns. This is the natural exposure why the chart patterns are garbage. I remember my third year at university when we have the trading lessons. Our teacher gave us a lot of useless knowledges about support, resistance and chart patterns. I have not understood why it should working and it was not soo intereting subject for me. That’s why I returned back to trading much later using self-education. Now I have the clear understanding why Elliott waves is the best tool and why it’s working. Most of traders even don’t understand that chart patterns is just the special case of Elliott waves. That’s why today I decided to explain you how you can change the first one to the second one. Let’s go! Double Top(Bottom) On the chart above I drew the different types of double tops. Generally we have 3 types of this pattern Double top with the second top higher than the first one. In this case we can interpret it in two ways. It could be the classical waves 3, 4, 5 and the corrective wave A at the ending stage. In this case we can anticipate waves B and C. Also it could be the irregular correcton ABC inside wave 4 (rarely in wave 2). In this case we should wait for the wave 5 after that. Traders usually execute short position on the neckline breakdown and suffer when the wave 5 smashed their stop-loss. They are wondering why double top does not working. Double top with the equal highs has the same possible outcomes. The only one difference that correction called flat instead of irregular. Double top with the second top lower than the first one. Here is the most common variant is the end of the ABC correction. In this case we have the low potential for shorting the market becuase the new impulsive wave to the upside can hit all stop losses. Head & Shoulders This is the easiest pattern for analysis. The right sholder usually is the wave 4, the head, obviously is the wave 5 and the right shoulder is the wave B. On the neckline breakdown we have the shorting potential only in the rest part of the wave C. You could correctly count waves and short that the bearish reversal bar of the wave 5 or, as a last resort, at wave B potential top. Shorting at the neckline has sence only if you are sure that the wave B was the the wave 1 of the impulsive wave to the downside if higher degree and now the market is in wave 3. We have to learn how to count waves in a correct way. I would recommend you to read the Trading Chaos book by Bill Williams because it has the best explanation how do waves work. Triangles and Wedges This part is common for all types of triangles (ascending, descending, symmetrical) and wedges (falling and rising). This patterns have the similar structure. If we faced with one of these patterns we have 4 possible scenarios. Triangle in the downtrend after the wave 3. In this case triangle is the wave 4, which is represented as the triangle correction. This correction type consists of 5 waves A, B, C, D and E. When the wave E is finished market will continue it’s move in the direction of a trend, printing the wave 5. The same, but in the uptrend. When the market showed us the 5 waves cycle to the upside and the correction is in progress. Triangle can appears in the wave B. In this case the price will continue the corrective move in the wave C after it’s finished. The same with the downtrend. Guys, of course there are much more types of chart patterns. For example, tripple tops and bottoms and so on. The purpose of this article is giving you another view of the market structure and to motivate you studying the Elliott waves theory. Believe me, it has much more potential than it seems on the first glimplse. Best regards, Ivan ________________________________________________________________________________________________ If you like my educational ideas, please smash the boost button to stimulate me make more quality articles!
Education
by Skyrexio
MSFT continuation wedge (bearish)This is a Continuation Wedge Pattern, Medium-term Bearish. The inbound duration took about 64 days. the expected pattern duration *from the break of the wedge*, is roughly 22 days. with a target price anywhere around that 200 area. say 199 - 207 i dont want to keep boring you soo, i hoped you enjoyed this, and if you did could you kindly smash like! Happy Christmas and hope have a wonderful new year. thanks for reading. thats all from me, Happy Trading my friends.
NASDAQ:MSFTShort
by Jbridgez
Bitcoin Making A Wedge Pattern: Elliott Wave AnalysisBTCUSD is trading at strong monthly support zone, but on a daily basis, it can still be pointing lower within the final 5th wave that can be forming an ending diagonal (wedge) pattern. We see it currently trading in subwave 4 correction, testing that June lows as a resistance from where we can see another and final decline for wave 5 of (5) with room towards 14k-12k area. Any earlier rebound and rally back above 21500 level might be signal for a completed 5th wave. It appears that bitcoin can see some nice turn up in 2023. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
COINBASE:BTCUSD
by ew-forecast
8
XAUUSD - 240 MINS TIME FRAMEThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle. Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support.... Tradelikemee Academy
OANDA:XAUUSDShort
by Tradelikemee
1
DASHUSD - Descending Broadening Wedge On the Dash chart, a descending broadening wedge has appeared (1h-timeframe). A descending broadening wedge is a bullish reversal pattern. The trade can be entered once the price breaks out of the pattern to the upside. The target is the height of point B. At the moment the price is overbought when looking at the RSI. In our opinion, the price is going to drop a little bit. After that, it could be possible that the price is going to break out straight away or it might retest. This is the reason why there're two paths drawn on the chart. See all further details on the chart. Goodluck!
KRAKEN:DASHUSDLong
by vf_investment
5
AAVEUSD (2H) Rising WedgeThe information contained herein has been prepared for general information purposes only. The comments and recommendations contained herein are based on the personal opinions of commenters and recommenders. It should not be interpreted as a buy-sell recommendation or a promise of return on any investment instrument. These views may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not yield results that meet your expectations.
BINANCE:AAVEUSDShort
by Fibo114
2
Crude Oil Can Stabilze At $70-$72 Markets are slow as most of traders will stay aside today after Thanksgiving yesterday in the US. So we think there will be no real changes in the price action and that market will stay in risk-on mode, at least from a technical perspective. The only thing that can shake the markets a bit going into a next week are potential new COVID restrictions in China after more cases were reported recently. Lower energy prices can also cause some volatility on CAD, NOK, and MXN after Saudi and Iraqi energy ministers said that they will introduce additional measures to ensure stability in the oil market. We see the energy coming down into the fifth wave of decline with some support seen at 72 area where the price may stabilize, at the lower side of a wedge pattern; a leading diagonal in wave A. In fact, weeks back the White House has released a fact sheet that establishes its intention to refill the Strategic Petroleum Reserve when oil prices are between $67 and $72, so yes, the downside can be limited.
NYMEX:CL1!
by ew-forecast
2
EURJPY- Wedge Resistance At 150EURJPY is back a the highs as expected, as we talked about in our past updates when recognizing a wave (B) retracement which belongs to a higher degree wave 5 of an ending diagonal. An ending diagonal is a special type of reversal pattern that occurs at the end of the trend. It has a wedge shape which suggests that despite higher prices bulls are not that strong anymore. As such, we should be aware of a limited upside here at the upper line. If it holds, and the price turns back to 140 in weeks ahead, then we think that an important bearish reversal will unfold.
by ew-forecast