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Ascending Broadening Wedge

DON'T get wedgied! Peak excitement on Friday - as retail traders pumped various markets with billions in cash. This was alongside institutional traders who had been bailing out. Well, retail won a significant limb of this, from the bottom edge of what now looks like an ascending broadening wedge following a major bullish drive. Biden echoed the FED's mantra on transitory inflation in the last few days. That seemed to be a signal for retail traders on the apps to dive in. Ascending broadening wedges after long bull drives north, are usually a signal of weakness. Just to be clear (and read my disclaimer below), this does not mean that the market will crash now. Price could move significantly up and whipsaw the top of the wedge before heading for the moon! 🌛 This wedge formation creates probabilities. Probabilities exist in minds. The probability estimate based on this snapshot (right now), is for a significant correction. This is not advice! This is opinion - a very different thing to advice. How probabilities work : If 'you' estimate there is a 51% chance of a correction, that leaves a 49% chance there will be no correction. A lot of novice traders forget about the lesser probability, which does not favour their mindset. There are other silent probabilities adding up in the background (DYOR): 90 year economic cycle, coinciding with 20 and 10 year cycles - and we're not out of the woods with a major pandemic. We are at year 11+. Some say 'cycles mean nothing'. Everybody is entitled to their own belief. I think these are dangerous times to be throwing money into the market going long. If you are about to short this position, you have to have money that you can afford to lose. Read that again. If you can't lose money, stop trading - instantly! Alternative reasoned perspectives are most welcome. Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which has a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
WHSELFINVEST:USTECH100CFD
by Captain_Walker
$OXBR ASCENDING BROADENING WEDGE$OXBR ASCENDING BROADENING WEDGE, scaling up exponentially... CONSECUTIVE HIGHER BOTTOMS Oxbridge Re Holdings Limited, together with its subsidiaries, provides specialty property and casualty reinsurance solutions. It underwrites reinsurance contracts primarily for property and casualty insurance companies in the Gulf Coast region of the United States. The company distributes its products and solutions through reinsurance brokers. Oxbridge Re Holdings Limited was incorporated in 2013 and is headquartered in George Town, the Cayman Islands.
NASDAQ:OXBRLong
by BADQOMOCAWGOWLD
GBPAUD, 4hr tf, breakout of broadening wedgeRecently, price managed to break below the support of this ascending broadening wedge pattern. Notice for price consolidate near the support before breaking below it. This consolidation looks like a bearish flag to me. We could expect price to continue go down towards 1.8100 area. The target of this wedge is at 1.8092 but we will aim to take profit a little bit above the target. Sell GBPAUD 1.8260 Stop loss 1.8320 Take profit 1.8110 (2.5R) Use only 1-2% risk Good luck
Short
by HayatoDragonFX
7
Don’t get over excited on ETH. Here is why (part 2)Hi crypto traders, This is a follow up on my other analysis on ETH and the reasons I believe the ETH price may consolidate for longer than we think. An ascending broadening wedge is usually a bearish formation with price target the bottom of the wedge. Although, this pattern have same odds to break to the upside, the RSI gave the direction already, which is bearish. Stay safe and don’t forget that I provide ideas for you to trade but you should consider other trading ideas for a complete picture of the situation.
CRYPTOCAP:ETH.D
by DEFI-trader
SKL short-term break downwardI few days ago I published how a potential breakout might be occurring soon with regard to SKL on the daily chart, but I just wanted to update that there is now a potential short-term break downward instead after revisiting the 4-hour chart. It looks like after the dip from what looks to be a fake out from the other day, a bearish ascending broadening wedge formed instead (red dotted lines) that now looks to be starting to break downward. There looks to be a bit of resistance at the base of the current descending wedge (bottom red dotted line), but there is potential for a bit more of a dip against BTC in the short term, particularly if further BTC drops persist. And of course, this is not meant as financial advice and is just my opinion, but please like or comment if you agree or see anything differently.
by crypto_trends
I Can't Get Over How Great $THETA LooksTheta has been printing an ascending broadening wedge since March 10th. The price is currently sitting in a nice symmetrical triangle. The market as a whole seems bullish right now so there is a high chance that we see this triangle break up. In the short term I am targeting local highs. I think we could see price in the $22.00 range (Fib Extension) by the first week of April if the market remains bullish. The BTC pair for $THETA looks very similar to this chart. I am bullish on both pairs.
Long
by ParCrypto
GME Ascending Broadening Wedge PatternWho knows where GME will end up in the future. Short interest is either back to a normal percent or being underreported and there is a negative beta which is super weird. There are still plenty of $800 contracts for the 19th and decent Q4 earnings for 2020 coming up on the 23rd. Earnings could be a potential price mover, but in my current opinion GME will not see much upward movement unless some of shady shenanigans come to light. If all the current information being reported is correct, anyone long on the stock may have to rely on fundamentals of the company instead of hoping for a potential short squeeze. From the looks of it, GME is filling out an ascending broadening wedge pattern. If volume stays low and buying pressure continues to dwindle, it's likely this pattern will fail and GME will return to its previous support (listed as failure point 1). If all the speculation about the 19th is correct and the earnings call spikes the price, GME may see a move up to the previous high. At that point GME could get rejected at the previous high and lead to double top rejection (listed as failure point 2). If the price regains support at the bottom of the wedge there could be another wave upward and confirm the ascending broadening wedge pattern. All that being said GME has had some weird movements, decreased buying pressure, low volume , and high volatility in the past two weeks leading me to believe there is still some unhealthy schemes waiting in the shadows. So who really knows... (Not financial advice)
NYSE:GME
by ChowMX
6
US10Y Yield Will Show A Growth In Broadening Wedge To 1.75%Throughout the last one month, I noticed that US10Y has been trading within an ascending broadening wedge chart pattern, and has been respecting the two diverging bullish lines that form its dynamic support and resistance extremely well. After bouncing off the dynamic support of the ascending broadening wedge, US10Y is now halfway through its growth towards the dynamic resistance. I expect this growth to continue and hit around 1.75% by the end of March. It is also interesting to note that if US10Y continues to move within this ascending broadening wedge (assuming status quo on a macro level), we are potentially looking at 2.5% to 3% yields by mid-2021. I used mid-2021 as a reference point because this morning, I came across a Wall Street Journal article stating these: "Economists in the Journal survey said they see annual inflation rising to 2.8% by the middle of this year, then falling gradually after that" "“Inflation will reach levels rarely experienced over the past decade, at close to 3% in mid-2021, but uncontrolled overheating isn’t likely,” Mr. Daco said." Source of article: www.wsj.com So I thought it will be interesting to compare it to the current ascending broadening wedge technical chart pattern that US10Y is current trading within, and it looks like we are definitely on track to those numbers if this continues. Just some food for thought! This is not an investment or trading advice so please do your own due diligence! Support this idea with likes and share your thoughts below.
TVC:US10YLong
by AntrePoint
LTCUSD short trade ideaPlan: trendline and support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
BINANCE:LTCUSDShort
by GWBFX
1