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Ascending Broadening Wedge

Wolfe Wave Bearish Facebook Day TradeStep #1: Prior to the Bullish Wolfe Wave Formation look to have a clear Bearish Trend Step #2: Try finding a 5 wave move that can be contained in a channel. Last wave 5 must break below the channel Step #3: Buy after we break and close inside the Price Channel. Step #4: Draw a trendline that connects the wave 1 low and wave 4 high and extend it in the future. Take 1/2 profit when the EPA line is hit. Run with rest. Step #5: Hide Protective Stop Loss below Wave 5
NASDAQ:METAShort
by Tradingstrategyguides
GBPNZD Short setupAscending broadening wedge around 70% of the time, the price breaks to the downside. and only 30% to the upside. keep in mind that a Ascending Broadening wedge have a significant failure rate. and textbooks advice to only trade in a breakout of the resistance line. I will short the price. because of more than one technical analysis indicate, that the price will break under the support line. one hour chart, a H&S formation In the ascending broadening wedge, Correctional waves have been made After a longer period of drawdown ( see one week chart) i am referring to my weekly chart
Short
by Fx-AlphaStrats
Ascending broadening wedge - two possible scenariosThis is an interesting move folks; identifying an ascending broadening wedge pattern has the same chance more or less to continue downward or to breakout and go upward. In my opinion, based on the bigger trend's descending triangle wedge, and the minor descending triangle wedge following it (the fib retracements placed on the graph), my bet would go towards the bearish breakout. What do you guys think? Below are some interesting facts to use in your strategies: Bearish breakout If the wedge’s lower support line breaks, the probability that the price will reverse and continue back up is higher than it falling lower. The odds are close at about 51:49. Selling at a downward break of the mid line of the pattern greatly improves the odds of success. If the price breaks the mid line of an ascending broadening wedge, there’s a 53% chance that a further downward move will happen. Bullish continuation From historical currency data, there is about a 55% probability of a further bullish advancement after a break of the upper resistance line. The bullish move lasts at least for the same duration as the pattern itself. Based on historical forex data, the ascending broadening wedge typically ends in a bearish or downwards correction in price. But only just.In 47.8% of the patterns, the upside move was greater. Reference/Read more at: forexop.com
COINBASE:LTCUSDLong
by telnemri
2
Short Audusd : Broadening Wedge Breakout Hi Guys, After consolidating for last few sessions, we got breakout in AUDUSD, wait till this hourly candle close and ensure it broke the broadening wedge lower trendline. After valid analysis initiate shorts in AUDUSD based on your risk reward with stops above previous swing high aiming for 0.7600's as Target 1 in Audusd. Note : Current Audusd ( hourly candle) didn't close below lower trendline of the wedge, short only after valid breakout. Never be in hurry to trade. Happy Trading !
by InsiderB
Coal India : Ascending-Broadening Wedge PatternHey Guys, Happy Monday... We got one of the broadening types of wedge pattern and right now CoalIndia is moving between the upper n lower trendlines of wedge pattern. We can't trade at this moment using this pattern. But wait for the breakout,Once the breakout happens enter the direction of breakout. Sometimes due to volatility of market false breakout can happen, so don't get caught on wrongside, even if that happened don't hesitate to take trade on other side after valid breakout. I have marked an area on lower trendline,what happens approx. around that area will be key factor to make decision. Hit Likes to agree with the post.... Thanks for your support ! Happy Trading !
NSE:COALINDIA
by InsiderB
EURCHF H4 Weak Potential Bullish Set-up with Ascending WedgeEURCHF Ascending Broadening Wedge, Fanning of Moving Averages Ascending Broading Wedge is low on probabilities of bullish reversal, but it does happen and has historically with this pair. However, the price action typically moves down further as a false sell off before a reversal. Bulkowski The confluence of the fanning of the moving averages is also historical and a good indicator of a potential trend reversal. The RSI is not totally clear. MACD is rolling downward. D1 is due for a retracement and already attempting, but daily pinbar shows heavy bearish. Fundamentals might get in the way! (Brexit) Be patient with this one. Look for a 4h candle close above the 50ma. Even then ...
Long
by dead2live