EIDX, Broadening Top (bullish) I found this pattern at tickeron website with the following data:
STATUS = Confirmed
CURRENT CONFIDENCE = 77%
TARGET (EXIT) PRICE = 77.06 USD
BREAKOUT (ENTRY) PRICE = 75.17 USD
DISTANCE TO TARGET PRICE = 2.53%
EMERGED ON = Oct 07, 12:00 PM (EDT)
CONFIRMED ON = Oct 07, 12:12 PM (EDT)
WITH CONFIDENCE LEVEL = 87%
Once the price breaks out from the top pattern boundary, day traders and swing traders should trade with an UP trend. Consider buying a security or a call option at the upward breakout price/entry point. To identify an exit, compute the target price by adding the pattern height (H on the chart) to the breakout price. The pattern height is the difference between the pattern’s highest high and its lowest low.
To limit potential loss when the price suddenly goes in the wrong direction, consider placing a stop order to sell at or below the breakout price.
The Broadening Top pattern forms when the price of a security progressively makes higher highs (1, 3) and lower lows (2, 4) following two widening trend lines. The price is expected to move up or down past the pattern depending on which line is broken first. What distinguishes a Broadening Top from a Broadening Bottom is that the price of the security is rising prior to entering the pattern formation.
This type of formation happens when volatility is high or increasing, and when a security’s price is moving with high volatility but with little or no direction. It can potentially indicate growing investor nervousness and indecisiveness.
Broadening
ZTS Broadening Bottom (bullish)I found this pattern at tickeron website with the following data:
STATUS = Confirmed
CURRENT CONFIDENCE = 66%
TARGET (EXIT) PRICE = 166.29 USD
BREAKOUT (ENTRY) PRICE = 162.17 USD
DISTANCE TO TARGET PRICE = 2.83%
EMERGED ON = Sep 24, 12:00 PM (EDT)
CONFIRMED ON = Sep 28, 09:30 AM (EDT)
WITH CONFIDENCE LEVEL = 74%
A broadening bottom can be characterized as a bullish reversal pattern. It consists of two divergent lines that form a triangle. The movements between the two triangle sides increase as the pattern continues. Each side must be touched at least twice to be validated.
The Broadening Bottom pattern is formed when the price of a security progressively makes higher highs (2, 4) and lower lows (1, 3, 5) following two widening trend lines. The price is expected to move up or down past the pattern depending on which line is broken first. What distinguishes a Broadening Bottom from a Broadening Top is that the price of the security is declining prior to entering the pattern formation.
Once the price breaks out from the top pattern boundary, day traders and swing traders should trade with an UP trend. Consider buying a security or a call option at the upward breakout price/entry point. To identify an exit, compute the target price by adding the pattern height (H on the chart) to the breakout price. The pattern height is the difference between the pattern’s highest high and its lowest low.
To limit potential loss when the price suddenly goes in the wrong direction, consider placing a stop order to sell at or below the breakout price.
This type of formation happens when volatility is high or increasing, and when the price of a security is moving with high volatility but with little or no direction. It can potentially indicate growing investor nervousness and indecisiveness.
XRP Bullish Descending Broadening Wedges XRP is not my favorite project but my investments are diversified and I think XRP is a category in and of itself (I'm here for the tech and wealth). This is not financial advice, only my opinions based off my personal research.
Firstly I love Descending Broadening Wedges, they are very effective for calling bottoms, I have a chart where I called the absolute bottom of CRO which has been one of the top performers of 2020. I called CRO breaking out before it was announced as one of Teekas top 5 coins, and I did it with the pattern I am outlining now.
Now what I am seeing is a set of Descending Broadening Wedges, a smaller one within a larger one. I am also seeing our price action on top of a important support, which is between .17458-.16656 (.16656 being the .236 of a down fib I plotted and the area I would put my stop loss under). It is interesting that our 1D candles have closed above the top of this support of .17458 ,which shows to have been a strong support historically, because our indicators also look bouncy in this area.
The RSI hit 30.87 (Oversold),Our Stoch RSI has created a descending wedge and has flipped bullish to give us a hard buy signal today, MACD still shows selling pressure because it is reflecting the sell pressure we have already received (but I assume will flip soon).
From a bearish prospective our price action is trading bellow the EMAs and we have been in a down trend for years, but I have some interesting information that indicates the bottom could be in for XRP. First on June 13 2020 the Poloniex BTC/XRP chart hit one of the strongest historic XRP supports and wicked extremely hard upward. Second if we do bounce significantly from this area through the major resistances above (The EMAs and tops of the Descending Broadening Wedges) then we will probably rocket upward based off the TA projections (1st Target .25 area / 2nd Target .30 area/ 3rd Target .34763/ 4th Target .49342). Third many things are happening within the Ripple/XRP world, some things I cannot bring up (Political moves being made within banks/Gov to garner Ripple/XRP support) not to mention the COVID19 need for digital currency, and lastly China/USA competition to be the first to control the 4th industrial revolution (CBDC, Reserve Currency, etc.). *Side Note watch BoA :)*
(SHORT/ MEDIUM TERM) Oh yeah I really think institutions are looking for a back up plan, I think that they will use cryptocurrencies as a back up for when and if the stock market takes another drastic plunge. Meaning I could see institutions going deep into crypto and marketing cryptos on their platforms for retail traders and speculators to make Wall Street Money while stocks take a dive. Tons of money could flow into the crypto world, I don't see this as the endgame for XRP but I see it as the means to their end.
IPCA bullish flag break out The Major pattern is the Broadening pattern which stock is following since last year October 2019, it has almost doubled from then.
but if you see from April2020, the stock was consolidating sideways forming channel pattern. So indirectly it contributed towards flag formation, it has broken upside.
Technically,
There are 2 Targets , Channel and Flag Formation
T1 = 1900
T2 = 2400 ( I can't draw the target over here beacuse of screen Limitation) Duration: 3 Months
Stoploss is below channel resistance
Strategy : get to first target, take out the profit and if price is sustain over 1900 ,take the long position.
After looking more than 90% of return from last year, T2 doesn't seems reasonable.
But Current Business scenario of IPCA favours it to some extent.
Reason : They are stronger in Biologics, Tommorow if any vaccine comes IPCA will definately contribute in "producing" it. They have something more to offer than "Hydroxy Chloroquine"
See the Volume growth from April, Product basket and intrinsic capacity favours to get over current Pandemic.
$HD megaphone top with RSI divergence$SPY $AAPL $SPX $QQQ $HD Picked up some September EXP puts on $HD because of this Megaphone top + RSI divergence.
Expending Triangule or Broadening?In my point of view, we are in an Expending Triangule with 3 major options:
A ➜ If June ends above the US$ 9,750, breaking the market structure, the next target will be our all time highest high near to US$ 18,000, but I think its is Improbable.
B ➜ Closing June bellow US$ 9,750, we will still inside this long bear trend, aiming to test the bottom of the triangle, but its very possible that movement is just a Beautiful Bear Trap, climbing fast the prices back to US$ 10,000 with a breakout in a few weeks, and our next target will be $17,800.
C ➜ The saddest option, without strong bulls, the bears hit the bottom of the triangule, triggering several stops orders, backing us to 3 years ago with the prices in $ 1600 and then $ 800.
So... What do you think?
Ethereum - Broadening Wedge PatternsBroadening Wedge Patterns - “Megaphones”
A Broadening Wedge is a range where the price is holding between two trend lines that are moving apart. The pattern is also named a “Megaphones” because of its shape.
These chart patterns are similar to triangles, wedges, flags and pennants.
Broadening Wedges can be either Bullish or Bearish depending on how they form within an existing trend. There are some clues in the pattern itself that suggest whether the market is likely to continue the same trend or reverse.
You can trade these chart patterns as range trades between the highs and lows of the support/resistance lines. They can of course also be traded as breakouts
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Targets> Featured area - gray box
BEARISH in the short term
ADVANCED Long term
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#ETH #ETHEREUM #ETHER #BUTERIN #VITALIK
Macro Broadening Wedge Pattern| MA Support| Declining Volume Evening Trader’s
What a historic day in Bitcoins price – assessing the situation, Bitcoin is trading in a probable broadening wedge pattern on the weekly timeframe.
Points to consider,
- Immediate trend parabolic
- Resistance line tested
- Moving Average support
- RSI crossed 50
- Stochastics projected up
- Volume tapering of
BTC has had an insane pump from the low, consecutive weekly green candle closes breaking all structural resistances and cleaning up the CME gap.
Current resistance being a staunched one was tapped, further solidifying its importance. The Moving Average, 21, visually coming in as support which can hold true for the time being.
RSI has crossed 50, historically this indicates and uptrend on the weekly whilst this stochastics is projecting up, momentum is shifting.
The bull volume nodes are declining with an evident volume climax on the lower timeframes, suggesting temporary top being in.
Overall, in my opinion, BTCUSDT is due for a correction after this significant rise. The wick represents profit taking, BTCUSDT is not officially out of the woods until we break this pattern.
What are your thoughts?
Please leave a like and comment,
And remember,
“In order to succeed, you first have to be willing to experience failure.” ― Yvan Byeajee,
SPX - 2 different scenarios. BEARS / BULLSplease show support by liking this analysis. I am not a financial advisor and i do not recommend taking any of my trades because of the risk. This analysis is purely for entertainment only and a possible idea what could happen with the market. If you have any questions feel free to ask, i would gladly help.
+BlackStockOfficial
Rene Pungartnik
USOIL PossibilitiesUSOIL is trading in a broadening pattern. It just tested the support zone. If it is able to hold the support then it is likely headed for the top of the pattern. All bets off if the pattern is broken downwards.
Disclaimer: Not a recommendation to buy or sell.
Long term chart is also posted here.
Bitcoin descending broadening wedge Bullish break out? 1DWith this being a Bitcoin halving year, I am still overall bullish, I will not flip flop easily on my overall bullish sentiment, like others every dip and pull back. I believe this could be a shake out still and profit taking time but we will see. We found support at 8600.00 BTC/USD area which was sitting upon the 200D EMA. I believe we need to hold this to continue feeling bullish, to confirm the upward bullish theory I have we need to break above 10030.00 BTC/USD area again and close candles. All indicators have cooled off and can support an upward bounce, but even if we bounce we will need to remember the top of the descending broadening wedge resistance line and reassess the chart once we get close to that area if we get there.
This is not intended as trading advice, it is just technical analysis that I don't see anyone talking about.
Eduational: Example of a descending broadening wedge. A descending broadening wedge is bullish chart pattern (said to be a reversal pattern). It is formed by two diverging bullish lines.
A descending 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.
NB: a line is said to be "valid" if the price line touches the support or resistance at least 3 times.
This implies that the descending broadening wedge pattern is considered valid if the price touches the support line at least 3 times and the resistance line twice (or the support line at least twice and the resistance line 3 times).
A descending broadening wedge does not mark the exhaustion of the selling current, but the buyers’ ambition to take control. The divergence of the two lines in the same direction (increase in price magnitude) informs us that the price continues to fall with movements that are increasingly low in magnitude. The sellers manage to make the price rebound on the resistance line but lose control after the formation of a new lowest point. The highest point reached during the first correction on the descending broadening wedge’s resistance line forms the resistance. A second wave of decline then occurs of more magnitude, signalling the sellers' loss of control after a new lowest point. A third wave forms afterwards but the sellers lose control again after the formation of new lowest points.
During the formation of a descending broadening wedge, volumes do not behave in any particular way but they increase strongly when the support line breaks. source:Centralcharts
LMNX Textbook Broadening Bottom PatternThis should be an interesting trade. Expect overcorrection because this stock is volatile. Maybe test with a small amount at a higher point (2) and put a joke stop-loss order somewhere around $20, fully hoping MMs take it out. Do not put a limit order down there or prices will never go down to that point. Instead, drop a market buy or complex option spread right when they try to bust the stop. Then place an imaginary stop order or alert below the prior low.
The yellow boxes are where most retail options are set to expire worthlessly.
Superstition maybe. Paranoia, perhaps? The market works against us traders. Ever hear of the 90/90/90 rule? 90% of traders lose 90% of their account in 90 days. The system is set up to help us fail. And we support it by trusting patterns like these.
Not trading advice. Rampant speculation advice, it is.
HSBA trending downwards, currently holding supportJust throwing some lines on HSBC (HSBA) .
We have a broadening channel, higher highs and lower lows on a 20 year timeframe.
Currently in a downward trend on the monthly, just about holding historical support.
This would probably be a good place to exit if we are expecting a market downturn.
"These formations are relatively rare during normal market conditions over the long-term" - Investopedia
BTC - Broadening Bottom halts more downside?Last month I saw a bearish gartley harmonic developing that probably ended closer to a bearish bat harmonic.
The long was successful and so far the short has been too (link below)
I had seen no potential for failure in this short until 2 days ago when we started to develop a broadening wedge. This analysis is neutral not long until a 4 hour close confirms this pattern and I'd want to see more upside before considering a long but I am considering it.
Good luck!
TRUMPONOMICS: holding, coiling up and releasing.This broadening formation is breaking out to the upside. To confirm that, I want to see it going fully trough the 3k level.
Target inside the chart.
How much can bitcoin go up and still be bearish?I tried to decide if I want to make this a "short" idea or a "neutral" one, but i decided to make it short because btc still hasn't passed the major resistance that it needs to pass to signal clearly that it's going to test new highs, and as long as it doesn't break that line at 12.2k I will not be expecting a retest of the highs for btc. to make a long story short just look at the chart and you can see the whole point- btc hasn't proven it's going up yet- but even if it will break that line and go up, even if it goes all the way up to 19k, as long as it's in that rising wedge- it would just be another up-leg in an over extended rally, and it would essentially just be going up to go back down again afterwords, probably to another 30% - 40% down from the peak at least.
GBP/JPY : Buy and Sell Trade Setups Big Expanding descending Channel or Brod Formation of structure making in GBPJPY. Currently making a Bear flag to Short Term SELL Opportunity .
Buy on Third touch of structure after Confirmation in Lower Time frame -
Let See What Will be Next Move -
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
with earnings around the corner...can it finally break its resistance?
or will it fall back into its broadening formation?
A Right-Angled and Descending Broadening FormationsPeople are over exited about Inverted H&S formation or Small Triangle formations but they forget the bigger pattern makes the direction of market.
In daily chart I see this " Right-Angled and Descending Broadening Formations " which it can be Bullish or Bearish but in a down trend must of the time it breaks out bullish.
As I see it can breakout upward now but because the length of RADB pattern is short the breakout will not have enough energy to move up the price too much.
But if it not breakout and go down then it will touch the down trend line between 2.2K to 1.8k $.
For more information about RADB pattern read this page:
Right-Angled and Descending Broadening Formation
