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Broadening Wedge

Ethereum Bearish or Bullish?During the last analysis, we accurately obtained the price objective of the falling wedge, which was 220, it took a lot of time for the move to develop, and once the price objective was hit, there was a pretty immediate drop to 155. It was mentioned in my most recent BTC analysis that the descending triangle was most likely to break out within days, and that if it broke to the downside, then it would bring the entire crypto market down. Well, the entire crypto market did shed approximately 40 billion dollars within hours. I did spot the head and shoulder at the price objective, however, I did not make a post on it, so I apologize for that. But here is my most current ETHUSD analysis. The Chart: The red rectangles are areas of resistance and the green rectangles are areas of support. In light blue, there is a descending broadening wedge which tend to favor a more bullish outcome. However, volume isn't the best to support that argument and in addition, there are only two touches for the top trendline. It can be said that the bottom trendline has been acting as support, so if there are any drops, the bottom of the trendline has been a good region to buy. After the most recent drop, price appears to be in a very tight rising channel, since the highest volume occurred on the drop and volume has been significantly less afterwards, this is most likely a bear flag. The price objective of this bear flag is approximately 136 which is noted by the magenta horizontal line. Another thing to note is that there is a rising trendline on the RSI, which has been maintained since the drop. Price Action: There are several price actions to look for the most bullish is if price would pop to the upper region of the channel and hug the top trendline of it, consolidating there before breaking to the upside possibly to consolidate around the top trendline of the broadening wedge. The most bearish would be if price has already begun to weaken and that 185 was the highest price point in the bear flag, this can be identified if price tries several attempts to break into the resistance level or if it distributes in that area. Another bearish scenario is if price increases to the resistance region and distributes there before dropping. Previous analysis: ETHBTC Analysis: BTC Analysis:
COINBASE:ETHUSD
by CuddlyCuddles
RAYTHEONSo this is more about finding a way to write all my calls and ideas and be accountable. But I see a broadening wedge on Raytheon , I would hope RTH, would go above the top line and use that as support, The current geopolitical environment with Iran , is one of the reasons why I think RTH, may be a semi-ok play I feel more can happen that would make a RTH, bull case then bear case I want to let this trade play out, before October 14th -> Trade talks But if the position is in profit on Friday I make just bank it and leave I will reconsider my position at 188, I have no hard stop, if only RTH goes down to that level and it isn't a entire market move , that is a situation I will reconsider my original thesis. Going on my previous notation of October 14th I will be looking at Brexit on October 31st If it happens to see how I play my open positions, -> I'd rather be out during those events and see what happens
RLong
by L-Lawliet
BTC ready for a swing up Head and Shoulders played out , What followed was a retest on of the level of the last peak of the descending wedge we broke out from yesterday , While doing that price did consolidate inside a descending broadening wedge which is bullish, Broke out to the upside , retested back on the top side of it and now we are set for another run to the upside,classic text book wedge analysis is manifesting nicely on the price action of bitcoin the last couple of days. Being on a weekend though where volume tends to drop ,liquidation hunts from platforms are in full action , so one has to pay extra attention while swing trading - especially with stop limit orders -
Long
by django2
P&G- How Micro Patterns Create Long Term Trends: PGIn this illustration, we observe how various micro patterns can translate into a longer-term macro pattern. With the case of PG, for prevailing micro patterns have progressed in what appears to be a bullish rising channel which has recently broken through. As the longer-term trend unfolds, the micro patterns will form in series of periods of high volatility and low volatility. Each pattern gives us an idea into the minds of the collective market consensus. Let’s examine what each pattern tells us in terms of an observational standpoint. ABCD: the ABCD pattern is commonly referred to as a reversal pattern. This is because the ABCD typically occurs at key turning points within a stock’s prevailing trend. The ABCD represents between B&C that light selling activity has commenced. The overall formation depicts a weakening of bullish accumulation and that although prices continue to raise exhaustion of buyers will likely proceed. Rising channel: The rising channel pattern is a highly reliable pattern that is typically considered one of the safer longer-term patterns to examine. The rising channel is characterized by a series of price changes which occur at intervals in between symmetric areas of support and resistance where the price respects these areas and makes sharp or distinct changes in between the zones. The rising channel displays that traders have a clearly defined consensus of the future value of the security, and that reasonable amounts of selling and buying activity is occurring meaning there is interest and activity and therefore opportunity. Pennant: The pennant pattern can occur in numerous phases. Typically, the phases are characterized by the ascending or descending slope of the support or resistance lines. The pennant pattern commonly occurs at consolidation zones or within the boundaries of macro patterns. Tenants represent an overall tightening and narrowing of volatility and can be used to pinpoint key turning points either bullish or bearish regarding the stocks long-term trend. Symmetric Broadening Wedge: the symmetric broadening wedge at any point in the stocks long-term trend represents an expansion of volatility. In the case of the symmetric broadening wedge, the battle between the Bulls and Bears is considered more volatile than in the case of a standard broadening wedge. Indicated by the slope of the support and resistance lines, a standard broadening wedge will likely display a flat support or resistance line and a slanted support or resistance line a symmetric broadening wedge displays two sloped lines and therefore demonstrates a maximum expansion of volatility. By examining the chart of PG, it is much easier to determine that micro patterns do in fact subsequently lead to longer-term macro patterns. PNG appears to be bullish dominated and experiencing increased accumulation over time. Although 2018 was more turbulent than two years prior, 2019 yielded favorable results for the security along with other existing industry leaders.
NYSE:PG
by CanaryJones
Facebook, Holding between ranges. FB- Canary Jones Market Climate: Neutral. Hold. Going-Long. Industry: Internet Services Indicators: None Patterns Identified: Rising Channel Broadening Wedge Facebook stock price has for the better of eight years remained trading within a highly respected bullish rising channel. Similar to other major securities or blue chips currently on the S&P 500 or the Dow Jones, Facebook has recently broken beyond major resistance signifying a continued confidence in the integrity of both the security and of overall US economic health. During this breakout, volatility has significantly increased both abroad and domestically. This can be seen by the developing broadening wedge synonymous to the expansion of market volatility. Canary Jones analysts have identified the broadening wedge of Facebook as a potential consolidating structure. Although the price has re-trended back into the original rising channel, the price has also exited and entered on other occasions. Yet, the stock continues to respect the prevailing macro trend. Although Facebook user activity has remained a challenge for the company to retain high usage and greater amounts of screen time, Facebook has directly taken actions to prevent its consumers from spending exorbitant amounts of time on its platform. This has slightly made Facebook a less attractive advertising alternative to other existing platforms such as Google ads, YouTube, and even now Amazon.com. Facebook’s continuing dominance of online social media has also for the most part created a negative consumer consensus that directly impacts their willingness to continue use for prolonged periods of time. Additionally, a string of data breaches and questionable ethical activities has simultaneously disrupted consumer image of the company and its brands. Facebook’s stock price is currently trending between both the consolidating wedge, and the macro rising channel. This crossover has lead Facebook bulls to being indecisive of both direction and reasonable entry. Facebook bulls should consider entry on the supports of either the rising channel, or the broadening wedge so long as confirmation of candlesticks is also evident.
NASDAQ:META
by CanaryJones
Visa. Examining potential downside risks. VAssessment: Neutral Hold- Going Long. Market Climate: Bull controlled, increasing volatility. Industry: Financial Services Indicators: None Patterns Identified: Harmonic ABCD Macro Broadening Wedge Visa has seen steadily rising bullish accumulation since first breaking out in December 2012. Since then, the security has experienced a change in price of roughly 612%. The security has been methodically traded between two ranges demonstrated through the broadening wedge depiction. More importantly, the stock has broken beyond the major resistance line of the broadening wedge, pulled back, and continued a break out extension symmetric to the pole of the wedge structure. However, with mid-2018 to late 2019 thus far facing significant increases in overall volatility by a variety of factors, the security is for the short-term from a technical standpoint demonstrating an increase of inherent risk to visa bulls. With echoing discussions of an impending recession, international trade tension, the effect of the Fed on the US economy, and the slowing of corporate earnings visa may be in a tight position that could affect the value of the underlying asset. Take note of the harmonic ABCD. The ABCD demonstrates a breakout structure from the stock’s primary macro trend. An ABCD harmonic cresting either at or breaking beyond major resistance typically indicates the potential for change in trend or direction. Although the overall security remains controlled by bullish accumulation, visa bulls may begin to sit sidelined waiting for a more defined consolidation structure. There is also room for down trending to occur back to the previous macro support within the wedge. Similarly, a pullback to the broken beyond resistance line now became support, displays significant area for the stock to decline before a more attractive entry becomes available. Long-term investors who have taken a long approach should consider reducing on other lagging securities while similarly waiting for an activity of greater confirmation. Keep in mind, that a short-term devaluation in the overall underlying asset does not necessarily signify a reversal of control from bulls to bears.
NYSE:V
by CanaryJones
Bull Flag Gives 20% Gain OpportunityThere appears to be a bull flag forming on the $INS chart. If we can close above the upper resistance, i anticipate us to see a 20% increase at least. This is a hot coin right now and i think this chart looks healthy. This is all coming after $INS turned support into resistance. If the flag breaks down, I would anticipate price to touch the bottom of the wedge. As always, use a stop loss in this trade. *This is not financial advice. I am not responsible for any losses of money.*
ILong
by ParCrypto
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!
COINBASE:BTCUSD
by PhilHumphreys
2
#bitcoin - Possible bearish diamond top "H2"During the day a new pattern, that is considered bearish has come into play and possibly marking a high, a diamond-top. Also taking into consideration, that we have developed a bearish ascending wedge, it becomes more likely that we have seen a local high now. Possible targets for this are not $8k .... those are $10.7 and $10k, where we would have to look at the possibility of making a symmetric triangle which can go both ways, instead of the former mentioned ascending triangle which is rather bullish nature. This is only H2 interval, so nothing that is going to have an intense influence on the further longterm development. Keep an eye out. _____________________________ Warm regards, Neru
BITMEX:BTCUSD.P
by Gl4diator
3
This is a beautiful chat, We hava two chart, Broardening wedge and Ascending wedge. Diamond Formation www.forexstrategieswork.com The diamond pattern is a rare pattern but when it occurs you can expect price reversal on the horizon. This is usually formed at the top end of the rally and as the name suggests the consolidation leads to a diamond shape pattern. Broadening Formation or Broadening wedge The broadening wedge is where prices consolidate and in the process form higher highs and lower lows, thus expanding the range. At the end of the consolidation, the broadening wedge pattern breaks by forming a lower high before price fall sharply. The broadening wedge pattern occurs in a bullish trend. Similar to a rising or falling wedge pattern, the broadening wedge pattern is formed by five reference points.
SShort
by YuyuCoyotte
Bitcoin - ABC Correction - The market, it's math!BTC is reaching a key point of support and Fibonacci level. A significant bounce would be expected at the end of Wave C and Wave 5 anywhere between $9 - $9.1K (1.272%) After that counter-rally it will be time to re-evaluate to see if the major correction is over, or if this is just a breather before further down side. ($7K-8K range) A 40% total correction is down around the 1.618 Fib on this chart for a percentage reference. Also for a point of reference, those two blue boxes are exactly the same height showing the symmetry of this latest move (AB=CD - ascending broadening wedge). The highlighted channel I put on the chart looks very much LARGE bull flag does in not? (something to keep in mind) Long term I am still extremely bullish , short term we still have to feed the bears a little poisoned meat to occupy them so we can circle around the path and continue up this mountain. A 4 Hour view of the same chart. The current price action looks like it wants to head to the lower Fibonacci line The market is sovereign The market is antagonistic The market is not find The market will devour you The market will teach you The market will hit you. The market does not forgive the novices The market will lead to your soul STUDY! This is MATHEMATICS!
BITMEX:XBTLong
by ferGOD
3
Bitcoin has trolled the poor bulls so hard..Poor bulls.. I feel so bad for anybody who tried to catch these breakouts and waited for an actually substantial dead cat bounce with any kind of high leverage.. over and over again bitcoin has conformed to a broadening falling wedge that calls for a breakout, but instead of giving the bulls any kind of substantial dead cat bounce to trade, bitcoin was so bearish that it promptly reversed back down and scared away\liquidated anybody who thought this could lead to a stronger dead cat bounce or even a retest of the highs.. And that's why (should) use stop losses kids! Bitcoin is STILL within one gigantic falling broadening wedge again that is actually legit and confirmed and everything, but it is so freaking enormous now that I have a strong feeling that this entire correction might be confined within this huge corrective pattern, and that that breakout could maybe possibly be (perhaps) the actual trend reversal back upwards (MAYBE) that will confirm the bull market and possibly take us back up to retest the 20k levels eventually. Personally I am still holding onto several short positions from the 13k and 14k tops (whatever is left from those positions) and i am planning to hopefully gradually exit them almost entirely in the 8k to 9k range, with many orders stacked up in the 8.8k area and the 8.2 area. What do you guys think is next for BTC? Share your thoughts in the comments!
BITSTAMP:BTCUSDShort
by jambalulu
#Bitcoin - Hot Stuff, don´t get burned!We are with rather bigfoot steps approaching our leadline of bearish broadening wedge. Last nights close below monthly pivot, below the current daily trendline AND below the neckline of the w-top pattern is shipping us into deep waters. If this diagonal leadline get´s broken with volume we will go into further correcture. Overall first target 8,9k and 8k USD. *Always set stops. Dyor. No financial advice. If you are interested in using the NeruSuite v5 (final), please contact me in Telegram @NerubicaC or here in TradingView via DM . ____________________________________________________________________________________________ BitMEX Ref-Link for 10% Fee Discount the first 6 months: www.bitmex.com
BITSTAMP:BTCUSD
by Gl4diator
2
#Bitcoin - Important Price Levels 3DGood morning everyone, I have been asked to label the important upcoming resistances and supports with a price tag. As you know me I am working with breakout-levels, PivotPoints and 3 SMAs. Here we go, please still keep an eye on the hidden bullish divergence on 3D that will be hopefully close bullish today to produce further upwards potential, as it did in the young past cycling us up in a parabola (that is not necessarily finished yet). Also watch the lower broadening wedge Leadlines, if they get broken we will likely see an adult correcture. Wait for things to happen if you are longterm trader and not in yet. Buying now before important levels have been broken again does not make sense for now, due to the fact there is a chance of getting the opportunity to buy lower than this. Intraday and shortterm traders obviously need to loo at lower timeframes <H4. *Always set stops. Dyor. No financial advice. If you are interested in using the NeruSuite v5 (final), please contact me in Telegram @NerubicaC or here in TradingView via DM. ____________________________________________________________________________________________ BitMEX Ref-Link for 10% Fee Discount the first 6 months: www.bitmex.com
BITMEX:XBT
by Gl4diator
2
#Bitcoin - the importance of Divergences and Pivot 3DI will leave this chart fairly uncommented, it should be very clear what happens, if we start a move up, or will close below the monthly Pivot Level on 3D. Everyone should know how to figure out targets and what happens if they are either met or failed. Pivot´s and Divergences (also Volume) are three of my seven favourite indicators that I have melted into a tool, and that for a very good reason. *Always set stops. Dyor. No financial advice. ____________________________________________________________________________________________ BitMEX Ref-Link for 10% Fee Discount the first 6 months: www.bitmex.com
BITMEX:BTCUSD.P
by Gl4diator
1
#bitcoin - Room for further correction H4I am back with updates. Bitcoin once again is within a quite important range (between Monthly and weekly PivotPoint, yellow and red), and also already once failed a breakout attempt. Tendency from here would be simply more down then up, knowing that this is not really tradable right now, due to the fact we all know Bitcoin has alot of surprising potential. Important ist the upper red trendline (breakout level), that need´s to be left behind to develop further up movement. Don´t forget even if BTC correct even down to the red box, it´s still within the range of a perfectly normal and non-bearish correcture and should not raise fud. As well the broadening wedge support has not been hit yet, so for now we are still far away from a bearish scenario like a BumpnRun. TO BREAK: $11700 NEAREST SUPPORT: $10700 BULLISH TARGET: $13900 BEARISH TARGET: $8770 (Broadening Wedge Support: $10100) *Always set stops. Dyor. No financial advice. ____________________________________________________________________________________________ BitMEX Ref-Link for 10% Fee Discount the first 6 months: www.bitmex.com
BITMEX:BTCUSD.P
by Gl4diator