Ascending Wedge on SOLUSDT and Bearish DivergenceAs can be seen in the chart, SOLUSDT shows a bearish divergence on RSI indicator.
In addition, the chart shows an ascending wedge which is also a bearish sign.
Ascendingwedg
Fakeout scenario is probableI dont have a crystal ball but the current ascending wedge in Bitcoins price action appears weak. This will likely lead to a "fakeout" and very sudden downward spiral (Short term).
Reason 1: Wedge inclination. The wedge increases in price very quickly meaning that almost all long positions within the range are profitable and active. FOMO at this level is massive and thus over leveraged and emotional traders are abundant within this zone. Once the liqs start getting emailed a long squeeze will occur sending price down in a hurry.
Reason 2: FOMO. The constant upswing of the past couple days is only healthy if leveraged positions are cleared out with a reversal.
Reason 3: Investment burnout. Everyone who wants to buy bitcoin has bought bitcoin. The very fringes of reddit subcultures and word of mouth have been tapped. There are not enough inward buyers willing to buy at premiums anymore and a huge market of in-profit sellers that do not want to lose their small fortunes
Breakdown from Ascending Wedge could be good entryFinishing the ascending wedge pattern, looking like it might break out to higher highs.
Volume is also declining up to this final point, suggesting highly volatile price very soon.
A dump down could find early support and be a good entry point to continue price discovery towards 2300.
PLTR - Bullish Ascending WedgeBeen holding PLTR for a while, just saw the chart today and purchased more. Looks like a bullish entry opportunity ready for take off.
ADA hourly Analysis UPDATEwe have passed a correction after powerful bullish wave to fibo level that you see in the chart. now we have a ascending channel, triangle pattern and also high
Confluence zone marked as blue in the chart. we will wait for confirm to take buy or sell position depend of price action.
Dow Jones overall Stock Market.Welcome everyone, Master Chef is finally back in business. With my trades in forex I have decided to enter the stock market and noticed a lot has been going on recently. With Biden entering into office, COVID numbers getting worse, and other countries entering into lockdowns I am just having a bearish mentality on majority of stocks.
Best stocks to short would be cruise lines (RCL), airlines (DAL), and I think the company that may take the biggest hit will be Intel (INTC).
If you would like analysis on these stocks please like the post and comment which stock I should give an analysis on next.
Master Chef is out peace.
Ascending wedge. Waiting for a break.If the wedge is upwards targeting 400. If it is broken downwards, targeting the recent double bottom and resistance from back in June of 322.10-326.54.
ASCENDING WEDGESHere we have a nice example of the ASCENDING WEDG.
--> It has a very good Risk To Reward Ratio ( 1:6 = 600 pips).
--> It's easy to spot, but watch for the breakout.
PTON Move IncomingBeen a minute but this is a classic wedge formation that I wanted to post. Personally I am bearish but this could be a bull flag... only time will tell, but if you do want in the SL will be at the high shown from today.
Manage your risk but you can probably get in tomorrow if it does not gap down/up.
USOIL 37.77 -1.24 % LONG IDEAGood Day Everone
Here's a short idea on the USOIL , looks like price might continue to push down looking at technicals, we saw the price breakout of the ascending channel/ rising wedge wich could signal that the trend could reverse as we had lower on oil price struggled to push above 39.23 lets see if price continues to rally down on OIL looking for short entries...
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Target 1 - 36.03
Target 2 - 34.63
ENTRY & SL - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING
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IF you like the idea kindly leave a like, leave your idea in the comment section on the pair & comments welcome....
$HD is now in the short zone$HD looking like a good short here -- ascending wedge with heavy overhead resistance nearing.
GBPJPY I SPOT SOME BEARISH PRESSURE COMING.
THE BULLISH MOMENTUM SLOWED IN THE BULLISH MOVE SO IM ANTICIPATING SOME PROFIT TAKING FROM THE INSTITUTIONS.
I EXPECT A DROP TO TE DEMAND AT THE LOW.
BTC ascending wedgeWait for confirmation on the retest before entering any trade but I see something this as most likely
BAC Ascending Wedge and Repeating PatternAscending Wedge pattern, usually proceeds in waves of three, this is a bearish reversal pattern. It can also be seen that a repeating pattern of a drop followed by a lower high can be present in three different situations, including the 2008 stock market drop, will it repeat itself again? Probably.
XRP looking very bullish to meLong term and short term signals, i'm quite bullish on XRP. Trend is your friend, happy trading all.
Bitcoin Ascending WedgeI am still not convinced
Other traders have drawn this same pattern with a big up arrow coming out the top... it is a bearish pattern
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 :)!
Qiagen Clinging onto UptrendDespite recently volatility and the formation of a ascending wedge, Qiagen is still maintaining its uptrend. Bump and run also present on the chart.
