Right Angled Broadening Wedges - Short 20x Bitmex NOWIdentifying a Right-Angled Broadening Wedge
Right-Angled Broadening Wedges come in two varieties, ascending and descending. They consist of a horizontal trend line and a sloping trendline .
The Ascending Right-Angled Broadening Wedges (ARABW) have an ascending trendline above the horizontal trendline with price action in between.
The Descending Right-Angled Broadening Wedges (DRABW) have a descending trendline below the horizontal trend line with price action in between.
With both versions price broadens over time.
Prices should be seen to touch both trendlines twice. Two touches to form the horizontal trendline and two touches to form the sloping trendline .
Breakouts from these two patterns often follows a partial rise or a partial decline.
What is a partial rise or decline?
After the two trendlines have been formed the pattern can be identified. When price rises off the lower trendline , and doesn’t reach the upper trendline before falling back to the lower trendline . This is a partial rise.
When price falls off the upper trendline , and doesn’t reach the lower trendline before rising back to the upper trendline . This is a partial decline.
More often than not a breakout from the pattern will follow.
The partial rise or decline never happens after the breakout.
Well
Bull Trap is comingCome on TOP TRADINGVIEW!
I will help you. No, wait. Know how to read candles? Or do you copy ideas to sell your signals?
Better start finding another service. This market is dead! Did you understand Without regulation no money will enter here! What is the 700 billionth of the marketcap? Where are they? Why did they run away?
The bottom is farther than you can imagine.
Better not post ideas like ZERO.
Bitcoin goes from 0 USD and goes to 20k is this normal! Blockchain is revolutionary !!!!! LMAO! Now get out of 20 and go to 0 is crazy? OK!
WELL Approaching Resistance, Potential Reversal!WELL is approaching its resistance at 77.93 (100% Fibonacci extension, 78.6% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse to its support at 67.84 (61.8% Fibonacci retracement, horizontal pullback support)
Stochastic (89, 5, 3) is testing its resistance at 98% where a corresponding reversal could occur.
WELL Approaching Resistance, Potential Drop! WELL is approaching our first resistance at 72.13 (78.6% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 67.34 (100% Fibonacci extension, 50% Fibonacci retracement).
Stochastics (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Bitcoin. Bulls might be strong, but 12750-13000 is stronger.TO BATTLE!
A thousand nations of the Bagholder empire descend upon you. Their arrows will blot out the moon.
Bull: "But the bulls have shown us how strong they are. Since the 6th feb the 15 minutes RSI has not dropped below 30 (29 ok...) A SINGLE TIME! We broke the downtrend we're out of the correction going to the moon"
Warrior trader counterargument "See that well? THIS IS SPARTA!!!"
I've held this idea for 1-2 weeks. I shall wait no more!
We're finally going to approach my 13000 target.
The bulls showed how convinced they have been. But the 12750-13000 area is going to slap them.
Once we're here, it's time to close longs (congrats if you're in since 6000), and go short help that correction be quick.
It's not 100% sure we go all the way to 12750 but if we get there it's going to be very interesting to start shorting.
Posted my targets in the idea chart, but since we haven't reached a top yet, I'll have to make a new post when we get there for more precision.
If you're not convinced that area is strong:
Another reason for a drop at 13000 is that it's 0.5 retrace of the dump from 20k to 6k. We have to bounce there downwards. If we break 13k (approximately, and close above) directly without going down then we're going to 50k in the next 2 months.
Or a whale is pumping hard.
Another possibility for Elliot waves (EW don't really matter the result is the same anyway):
+++ I am not a financial advisor (good luck finding one in crypto). Trade at your own risk +++
TP ACHIEVED ON EJ!!!Alright guys our targets were met!
Now it's time to go long, congrats if you made money on this trade!
LET'S GO!
HCN/WEL - Longterm H&S formation short from $67.47 to $54.20/$28HCN formed a beautiful longterm H&S formation. Money flow heading down. We think it has Long-term downward potential.
To play this we would look at $47.50 January 2019 Puts currently $2.75
* Trade Criteria *
Date First Found- November 27, 2017
Pattern/Why- H&S formation in weekly frame
Entry Criteria- current price ($67.47) (hit November 28, 2017)
Exit Criteria- 1st Target $58.20 (Hit February 1, 2018), 2nd Target $54.20 (Hit February 9, 2018) and Long term Target $28
Stop Loss Criteria- $60.43 (updated February 5, 2017)
Indicator Notes- Very poor Financial ratios (P/C: 105.23, P/FCF:110)
Special Note- Would look at $47.50 January 2019 Puts currently $2.75.
Please check back for Trade updates. (Note: Trade update is little delayed here.)
EURUSD: Short Going well. Good spot to increase positions hereEURUSD
This swing trade on the short side from 1.1893 kiss on the parallel is going well, so far. A neat pattern here, with a head
and shoulders at the very top with an exact 200 pip downside target at 1.169 (met) and then a much larger, and more
threatening head and shoulders forming over the following weeks with a downside of 420 pips from the neckline
down to 1.124 minimum target, though this will take time to play out to consclusion. Right now EUR is testing old support, new
resistance at 1,158 and should reverse lower from here again (good spot to increase shorts) and ride it further down (stops for
new shorts need placing just above 1.1590). It should come back to the lower parallel quite soon and then make a good
bounce before failing again. More as move develops.
