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Ascending Broadening Wedge

CyberAggent At the Supply Line of an Ascending Broadening WedgeCyberAgent currently sits at the Supply Line of a long established Ascending Broadening Wedge and while my first instinct would usually be to short, I think this one is showing signs that it will give us a strong bullish reaction off of this supply line as we have a bunch of Bullish Divergence on the MACD and RSI and are at the 55 Moving Average on the 2 Month while trading in a very tight more local falling wedge pattern. Upon Breakout i think we could go up to make a 0.886 Retrace before ultimately confirming a Partial Decline and Breaking Down. But in the meantime im very bullish here.
TSE:4751Long
by RizeSenpai
Real Estate Sector; A Very Bearish FractalJust like in the lead up to the 2008 the REITs have been going up with no sign of slowingh down whilst inside of an Ascending Broadenign Wedge/Channel and has on it's 4th attempt gone above the Supply Line Breifly only to very quickly come back down again and now it's cracked below botht the 21 and 55 Month EMAs; The last time it's done marked the beginning of an accelerated move down and the eventual Breakdown of the wedge where it then went for the measured move of the wedge which is the price where the wedge began; In this case that would be back down at $289.91 For more context as to how this dump started check the Idea in the Related Ideas Tab as that has a Weekly Timeframed Chart of the VNQ ETF that was showing Bearish Variables before the REIT's Decline Began.
DJ:REITShort
by RizeSenpai
BTC: MORE DUMP AHEAD!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this quick BTC update. In my previous BTC update, I clearly mention that BTC is at resistance so do not hold your longs and book profits in your long position. Hope you guys listed and save yourself in this dump. Now, what's the next possible scenario from here? BTC is forming an ascending broadening wedge-like structure in 2hr time frame which is generally a bearish pattern. After breaking down this broadening wedge, it is currently retesting it. So after this successful bearish retest, I'm expecting more dumps from here. Invalidation:- Break and close above $21.1k will invalidate this bearish broadening wedge scenario. If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Short
by CoreCrypto1
4
QNTUSDT - Short - Broadening WedgeQNT is currently forming an ascending broadening wedge pattern on daily timeframe. An ascending broadening wedge is a bearish reversal chart pattern. Where the upper line is the resistance line and the lower line is the support line. As we can see in the chart that it´s moves increase with higher magnitudes. This pattern should be traded when the price breaks out of the support line. Looking at the pattern combined with the three indicators we can conclude it´s currently in an overbought condition. So it´s likely for the price to retrace. The three indicators are Bollinger Bands, RSI 14 and Stochastic. In our opinion it´s more likely for the price to retrace and pump once more before it breaks out of the support line. So for now Target 1 in prioritized. Before targeting the other two targets we have to wait what happens after Target 1! All the details are shown on the chart. Goodluck!
Short
by vf_investment
9
NFLX- Ascending Wedge Pattern Setting up Bearish SHORTNFLX has been in an uptrend and quite bullish and relatively strong on the 2H chart an ascending wedge pattern is seen. Moving Averages confirm the present trend as bullish with no crossovers and the price above all of them. Given the ascending wedge I will take a small position now at the trendline resistance as a swing short. I will add to it if/when price breaksdown below the green trendline support and the fast moving average crosses the intermediate moving average as well as a line crossover on the MACD or bearish divergence on a RSI indicator.
NASDAQ:NFLXShort
by AwesomeAvani
EUR/JPY- Ready for a breakdown?On March 7th, EUR/JPY made a low print of 124.40. Since then, the pair has been moving higher in an ascending wedge formation. On October 21st, the pair attempted to breakout above the top trendline of the pattern, reaching an intraday high of 148.40. However, Japan’s Ministry of Finance stepped in and intervened in the fx markets by buying Yen. That was the last time EUR/JPY touched the top trendline of the pattern. As is often the case, when price fails to break out of one side of a pattern, it moves to test the opposite trendline of the pattern. The expectation for an ascending wedge is that price will break lower as it nears the apex. The target for a breakdown from an ascending wedge is a 100% retracement, or 124.40 in this case. On December 2nd, EUR/JPY pierced through the bottom trendline, reaching its lowest level since early October at 140.77. On December 5th, the pair moved back into the ascending wedge, closing at 143.38. Will the bottom trendline hold or Is EUR/JPY finally ready to breakdown? If price breaks below Friday’s low at 140.77, it could be off to the races. First support is at the 200 Day Moving Average near 139.20. Other support levels ahead of the target are at 137.38, then 133.41. However, if the pair continues higher within the wedge, the top trendline of the pattern crosses near 149.20. If price reaches this level, one must use proper risk management as Japan may intervene in the market once again.
by FOREXcom
GBPJPY: Asscending Broadening WedgeWe will be looking for a 3rd, possibly 4th tap of the resistance. Appying the 1% rule to this trade, i will split my overall into 2 trades. ... 1st trade will be the 3rd tap with a 35-40pip S/L.> as GBPJPY you will want a bigger S/L as it moves faster and most spreads reach for S/L's.... 2nd trade will be the possible 4th tap of the resistance, to hopefully get adn even better entry, Presuming the price will break out of the wedge to the downside. Another thing to consider is GBPJPY's impulses. Ive been noticing 90-110 pip impulses. the most recent impulse was 260 pips. Although the impulses have been this big, this next impulse to the downside will be the length of the LOWEST point near entry of the ascending broadening wedge, and will go as far as the HIGHEST point within the wedge. I will set my T/P the distance FROM the breakout of the wedge equal to whatever length the wedge ends up being. I expect the wedge to ascend around 100pips from the ENTRY point LOW. . Therefore, i will hope to pick up 100Pips before closing out all of my positions. Of course closing half of each position at 50pips wihtin that move. This is NOT financial advice! This is my OWN Speculation of GBPJPY at this given moment. Hope you enjoy!~
Short
by lodose81
Quick hit n run [risky] shortBearish Wolfe Waves forming inside an ascending wedge. I would wait for price to break the upper Value Area of the volume profile of the current trading range to confirm short entry . RSI but looks ready for a little move to the downside. Golden pocket on the fib marked as well. Will trigger myself a high leverage short taking targets first at the golden pocket, then according to reaction on POC and VAL of the volume profile I will decide wether to book more profits / close position or not. An ideal solution would be a sweep of the low. Triangle fakeout / fake breakout could add confluence: Trade safe and use adequate position sizing.
Short
by xcitedDelirium
2
ETH: WHERE IT GOES AFTER THE MERGE EVENT?Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this ETH update. ETH is forming an ascending broadening wedge pattern in a 4hr time frame which is generally a bearish pattern. After a few hours, the ETH merge event is going to take place and IMO this is the sell the news event. Still, for confirmation, ETH needs to break below the lower trendline of the wedge. Overall things look bearish here. What do you think about this? Do you think that after the merge event it's dumping hard or do you think that it is going to pump from here? Share your views in the comment section. if you like this idea then do support it with like and follow. Thank You!
Short
by CoreCrypto1
3
Dow Jones Near Touch Demand Line of Ascending Broadening WedgeLarge ascending, broadening wedge structure looks to be respected with today's backtest of the wedge's demand line. This comes after a test of the supply line almost two weeks ago and a nearly 9% draw down in price. Coupled with divergence on the oscillators, the more probable result from strictly looking at this TA would be a short term trend reversal to the upside. Given the overall bearish market conditions it is I wouldn't be surprised to see a partial rise which doesn't result in resetting the supply line at the top of the wedge. Could be a nice place to take a quick long with a stop/loss somewhere below the demand line of the wedge. A possible first target would be around $33280 which was the previous high before dropping into this wedge. There isn't a ton of historical significance but it recently held as resistance for several days.
DJ:DJI
by wuliwong
Bearish Thesis Bitcoin to 20800-then drop to 18500 WIP (Short)Elliot Wave continuing from the drop from 25200, ABCDE. Rising Wedge to about 20750-850 (not exact), then a drop from there to 18400-600 as measured from the last drop. Not a guarantee. I haven't entered a short, I might take a swing with my hedge account. Work-In-Progress. This doesn't mean, "short now" but for traders that already have established shorts from higher levels, this would add to the "hold your shorts" argument. I might set some very small sell stops on my hedge account with very little risk. I'd be placing stops a few hundred above just in case. I would also be taking healthy profits in my very light long position on my main account if we approach this level, but that is already a given. Also 18400 would not necessarily be the stopping point for the drop, as it is simply a measured move based on the last one that played out. A secondary target might actually be to "sweep the lows" of 17600... implying at least a few hundred below that, or possibly thousands depending on catalysts, positioning, and where everyone's stops are placed.
BYBIT:BTCUSD.PShort
by JJMa
Rising/Falling Wedge Ascending Wedge in an uptrend-bearish 1. This pattern occurs when the slope of price candles’ highs and lows join at a point forming an inclinin wedge. 2. The slope of both lines is up with the lower line being steeper than the higher one. 3. Place an order to breakdown and out of the wedge. The drop out of the wedge can be very dramatic. Descending Wedge in a downtrend -bullish 1. This formation occurs when the slope of the price candle high and lows join at a point forming a declining wedge. 2. The slope of both lines is down with the upper line being steeper than the lower one. 3. To trade this pattem, place an order on a break up and out of the wedge.
BINANCE:ETCUSD.PEducation
by yaser_rahmati
1