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Ascending Broadening Wedge

Price target till february 2021. Thoughts please.Price target of $220-230 because the confluence of : - Fibonacci retracement (0.618 - $219.06) from ATH to September '15 low - Fibonacci retracement (0.5 - $223.52) from ATH to December '18 low - Fibonacci retracement (0.382 - $225.76) from ATH to March '20 low - Low side of the parallel channel formed since the IPO - Low side of the broadening wedge formed in December 2018 - Price target of the new descending triangle forming since 16 November 2020 - MACD convergence divergence negative in Weekly - Chinese regulations risk - U.S delisting risk But probably trend reversal in first weeks of February 2021 when : - New democratic POTUS arrive to the White House in 20 January - New Alibaba earnings release between 02-09 February with sustained growth Please leave your thoughts to create a better community with better ideas. Do you think I'm right or not? Why? I'm from Barcelona so sorry if there are some spelling mistakes :)
NYSE:BABAShort
by HumanBias
7
LINK about to break lower towards $11.50 (Buy Support)*** Disclaimer - I am relatively new to TA *** Moving averages and stochastics are showing bearish signals on the 4 HR . We're in a large descending triangle . Inside that, we're also seeing an upwards broadening wedge play out. I think we're going to break lower to the support around $11.50. This would be a great buying opportunity. If the US reacts positively to stimulus news upon markets opening, this could all be invalidated quickly. I'm bearish , but what do you guys think? This could make a decent short position depending on which route you want to take. I'll personally be putting in a leveraged long at support.
COINBASE:LINKUSDLong
by ZenitCrypto
3
LINK /USD Ascending Broadening Wedge Pattern - $14 TP. Hello Traders, Ascending Broadening Wedge Pattern looks to be forming. Seems to be following the typical pattern of a broadening wedge, Higher Highs, Lower Highs. Steep inclines with staggered lows. Following the three peaks & valleys. Tall & wide. If the price bounces off the bottom trend line of 12.58, continued upward movement should be a good swing trade set-up towards $14. Upon breaking the $14 price point, we can then use it as a confirmation for higher highs to come. But, if the price breaks down below $12.3, then expect a downward price movement. Stop-loss set (tight) at $12.2, Take Profit at $14. Upon breaking $14, look for the next target of $15.7.
KRAKEN:LINKUSDLong
by MarkStPeter
Looking for a decent, if minor correction on USO > 44-ishLooking to purchase Oil/energy equities, looks like USO has a slight negative bias and might break down from ascending wedge. Looking to purchase more oil/energy on a dip. I can see 43-44 on a correction. 100 EMA near 44 should cap losses, unless we have a news catalyst. Exxon and other energy names have moved up hard over the last few weeks, might be time for a correction. This would be to add to existing positions or to add new names. Also noticing some bearish divergence on the RSI in the 4-hr chart. Looking to pick up a few shares of FENY to diversify. Main vehicle is XOM, FENY is not ideal for diversification, but it provides some. Charts and indicators look okay, XOM appears to be at distribution and therefore a dip is underway as I write. Ideal price for FENY would be 9.90ish, for XOM, I would say anything below 40. Market will do what it wants, so I might just put in a trailing buy order with a half-decent delta and see if I can get a better price, but not going to try to get too "cute" about getting a sale price.
FX:USOILLong
by JJMa
1
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Long
by contemplatingcrypto
2
GBPUSD Roadmapcurrently, we are seeing price playing inside an ascending broadening wedge pattern and respected the trendline resistance well, personally, in this case, I will wait for top formation formed on the lower timeframe before placing any sell order **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
Short
by GWBFX
2
Rising or Ascending Channel for the S&P 500?The S&P 500 is forming a rising channel or ascending channel marked by two blue parallel uptrend lines. Most stocks typically continue to channel until either trend line is broken. An upside break is a signal that buying intensity has increased, while a downside break indicates an end to the short-term uptrend. On the RSI there's a noticeable divergence, the blue downward sloping line of resistance will need to be purged to the upside before the pattern finishes or there's likely going to be a heinous correction if the pattern finishes bearishly. The KST is trying to cross bullishly over the red line but has been rejected multiple times upon close observation, I've outlined a possible H&S pattern that will occur unless we see a bullish cross on the KST.
TVC:SPX
by ScotianBot
EURCAD short trade ideaPlan: 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
Short
by GWBFX
XLMUSD Potential Breakout Hello traders, Context XLMUSD has been consolidating gains for about two and a half weeks since the local high set on June 4th. Now, XLMUSD seems to be on the verge of breaking out of the downtrend that has constricted price action since the local high. An inverse head and shoulders pattern may also be forming on the daily chart that could help propel XLM to ~$0.81. The neckline of this pattern is at around $0.072. Additionally, XLM seems to have completed an ascending broadening wedge pattern where the breakdown took it right near the target of the pattern, all the way to ~$0.65. Also, the price maintained well above the 200D SMA during this fall. These additional factors give further credibility to the idea that the downtrend is over. Technical Indicators First, let's analyze the indicators on the 1D chart. Here, we can see a breakout from a descending trend on the RSI. On the MACD, the 12 period MACD is slightly below 0 although the 26 period MACD has held above 0. The difference between these seems to have maximized, indicating a potential uptrend and cross soon. 4H chart below: On the 4H chart, the RSI has initiated an uptrend since the 11th of June, and the MACD has been below 0 since slightly before then. This divergence, and the longevity of the MACD below 0 during an uptrend seems to indicate upside is imminent. 1W chart below: Finally, from a more long term perspective it is important to note XLMUSD has successfully broken out of a multi-year downtrend and remained out of this falling channel. The MACD has only just crossed above 0 after a prolonged time below 0 and the RSI is trending upwards. If XLMUSD can break above $0.09, where a triple top has been formed - threatening the bullish trend -, XLMUSD has the potential to nearly double in price in the coming months.
COINBASE:XLMUSDLong
by usubzero