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Ascending Broadening Wedge

CHART CONFIRMS THE OIL BULLISH #Descending Broadening Wedge#****************************************************************************************************************************************************************************** Decisions to buy, sell, hold or trade in securities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of “Day Trading” involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and the ability to bear financial risks. ************************************************************************************************************************************************************************ WHAT CHART PATTERN USDWTI IS PROBABLY BUILDING? This pattern appears across all forex charts and like the ascending version, the trading rule is not entirely straightforward. Based on the analysis of forex chart data there’s a slightly higher chance of an upward or bullish breakout from the pattern. Where the wedge shows a stronger bearish tendency there’s a significantly higher probability that the market will continue to trend downwards for some time as the wedge grows. So before trading the pattern, it’s a good idea to use some pointers to try to gauge the market sentiment and which way the trend is likely to unfold. source: forexop.com
FX_IDC:USDWTILong
by Quotendance
🇬🇧 | 🇯🇵 GBP / JPY — Breakout of Wedge. Downtrend Establish?!Hello! Welcome on GBP-JPY setup: Prise is just went down from Rising Wedge, in nearest future I can expect further declining in price. Expect reaching the support at 127.5. Resistance at 135, use it to invalidate the movement. Yes, this is pretty easy TA for GBP-JPY, and what I think on it. Share what you think on this trading pair. ATTENTION: Dear followers please consider to appreciate my ideas on tradingview with your likes, this will help bring more quality content in next trading ideas. And if new to my work, and you like it, you can Follow my page to receive ideas in your Ideas Stream. Thanks 🤝😊 Stay healthy and safe ! This is Artem Crypto.
Short
by ArShevelev
2
REPBTC Broadening Wedge| Structural Resistance| 200 MAEvening Traders! Today’s technical analysis will focus on REPBTC, in a valid broadening wedge formation with a failed partial raise at structural resistance. Points to consider, - Trend bearish – consecutive lower highs - Structural resistance being tested - 200 MA – local support - RSI trading in a channel - Stochastics in upper regions - Irregular volume present Augur is in a clear defined down trend on the macro scale and is travelling in a broadening wedge that will be confirmed with a break of its ascending support line. The current local support is being established by the 200 MA, a break of this will be in confluence with a break of the broadening wedge. Staunched structural resistance has been respected multiple times; it is in confluence with the .382 Fibonacci. A close above and consolidation will likely test the upper resistance line of the broadening wedge. The RSI is in a clear channel, currently neutral, breaking this channel will dictate the direction of the price. Stochastics are currently in the upper regions, can stay trading here for an extended period of time, however lots of stored momentum to the downside. Augur has irregular volume being present, common in broadening wedge patterns , an influx will be prevalent with a decisive break. Overall, in my opinion, Augur needs to consolidate above structural resistance and create multiple higher lows to negate this pattern. A break of lower support line will however increase the likelihood of testing lower lows. What are your thoughts? Please leave a like and comment, And remember, “If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” – Mark Douglas
RShort
by The_Alchemist_Trader_
Gold forming ascending broadening pattern!on my previous analysis (link attached below!) I expected gold to decelerate at 1608 resistance level and moreover currently we are seeing gold forming ascending broadening pattern that might bring price going down to the 1594 support level, good luck ;) Plan : trendline breakout --> wait for price to bounce off from horizontal 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 like i do, please write it in comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
FX_IDC:XAUUSDShort
by GWBFX
17
LINK/USDT - ascending wedge / short term pullbackLINK/USDT has performed nicely over the past weeks and is currently close the the tip of an ascending wedge. It's likely that it will correct very soon and test if this new channel will hold. One smaller move upwards is still possible so either keep it a small position for now or wait for breakout confirmation. Targets are at the bottom of the small channel or if we see a bigger correction at the bottom of the lower channel. Due to Binance's maintenance it still shows the price within the wedge because it's missing a few hours but on the futures chart it already broke out bearish. Good luck and let me know what you think!
Short
by Wolfy_
3
NZDUSD, ascending broadening wedge pattern has formed!Plan : wait for prices to bounce off horizontal resistance --> 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 like i do, please write it in comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
4
EURUSD - Ascending Wedge - Next Swing HighHi Traders, The market is moving in a clear market structure. We have an overall uptrend with higher highs and higher lows. The market is now at the bottom of the wedge and we're expecting a swing high. Our target is at the next resistance, where more sellers could come in. The TP is at 100 pips and the SL at 32 pips. We recommend to buy the market after a confirmation with a risk-to-reward ratio of 1 to 3. Thanks and good luck :)!
Long
by swissmoneymakers
BTCUSD | Going down to $6 000 levelA confident and sharp growth of Bitcoin's value this summer brought most cryptocurrency holders to a bullish mood. However euphoria finished with a last parabolic wave on 26th of June. Further price action formed a standard for Bitcoin triangle which unfortunately was broken down on the 24th of September (Point I at the chart). Further an ascending broadening wedge was formed which is a strong bearish sign. An ascending broadening wedge is a bearish chart pattern (a reversal pattern). It is formed by two diverging bullish lines. An ascending broadening wedge is confirmed/valid if it has good oscillation between the two upward lines. The upper line is the resistance line; the lower line is the support line. Each of these lines must have been touched at least twice to validate the pattern. These touches are displayed at the chart and we can see that price sharply broke down at point II but then met a strong support and bounced above Fib 0.5 level. However ascending broadening wedge resistance rejected further growth and at point IV price action confirmed bearish trend. Currently the price is at point V and crawls down near with the major resistance which was formed by the original triangle upper edge created by the June's pump. In case of continuation the price will reach $6 000 level within 20 days. The most important is that the mentioned point of $6 000 is also a place of crossing with the major support which rejected very bearish pattern last time thus with a high probability a new bull run will start there Stay tuned to receive updates to this trading idea Best regards, SkyRock Signals
COINBASE:BTCUSDShort
by Skyrexio
17