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Broadening Wedge

Litecoin And Classical Charting - No Elliott Waves. Promise!Hello Dear Friends! :) Today we are gonna look at only classical charting, and try to identify the different patterns. This is an educational chart - I hope you will enjoy it! Let's start from the left: 1. Bear Flag (Steep downtrend, followed by a small consolidation to the upside, and then another steep downtrend) 2. Broadening Ascending wedge (bearish pattern) 3. Down Channel 4. Ascending Triangle (bullish pattern) 5. Symmetrical Triangle (neutral) 6. Another Bear Flag 7. Ascending wedge (bearish pattern) 8. Bullish MACD-Cross (When the blue line crosses the orange, which means that the bulls are gaining momentum) 9. RSI - Regular Bullish Divergence (The price is making lower lows, but the RSI is making higher lows, which means, that we are about to end our downtrend and will go into a reversal) Can you find other patterns? D4 Loves You <3 Please leave a LIKE for this alternative educational post :)
BITFINEX:LTCUSD
by D4rkEnergY
18
Here Is The BITCOIN-Path You Need To Know About - I Will Show U!Dear Friends! D4rkEnergY is back with his A-game. It's a tough market at the moment, but I have been pretty spot on lately. I'll admit when I'm wrong - and I have been that several times - but we have to remember to give our self credit, when we do a good job too. I can still see in the comment sections, that some ignorant (meant in a good way) people believe or think, that a good trader can be right all the time. Let me quote MY MAN, Peter L. Brandt, profitable trader since 1970s and authors to many books about TA and trading. He wrote the following on Twitter yesterday: "I am wrong 60% of the time. This means that my default emotional expectation on a trade should be that this next trade will be a loser" So next time you feel the urge to shout "WRONG AGAIN" to any Top Author here on TradingView on Twitter, then just have the above mentioned quote in your mind. One of the most famous traders in the world is "only" right 40 % of the time! Now let's take a look, at the 1D BTCUSD Chart. So far it is going according to my prediction. I told you about our sideways movement for a while, and the corrective ABCDE-pattern. At this moment we are riding on the E-wave and I expect we will go a bit higher. We have a bullish MACD-Cross and the RSI, that give us room to finish our corrective pattern. Hereafter I expect that we will fall. The ABCDE-pattern is a bearish sign in a bear market, and it will also match with the time we hit RSI resistance at level 45. We will then fall down to around 6,000 which will give us a bounce because of the double bottom and due to the fact that we are in a descending broadening wedge. BUT it will NOT be enough to send us in an uptrend though. We will eventually fall lower again, and when we reach the.... .... MAGIC NUMBER..... 4,888.7 USD, we will FINALLY go in an uptrend and to EUROPA! D4 Loves You <3 As always guys - Please hit that LIKE-BUTTON. It means a lot to me - thx in advance, my friends :)
BITFINEX:BTCUSD
by D4rkEnergY
281
Unclear ARDR directionLike many of the Altcoins ARDR has been in a long slow decline. The bottom support of 0.0000300 BTC have been tested a couple of times and seem to hold. During the last four days ARDR have forming a Symmetrical Broadening Wedge which is an indication of increasing price volatility but no indication of direction as these wedges can go up or down. The Bollinger Bands are tightening which indicates there is price movement on the way. The upper resistance have been touched four times. The MACD shows an upward trend. The RSI is staying above the 50 line. Most of the indicators are positive but low volumes will likely see a drop to around the 0.000032 BTC level by the end of the weekend and then a slow climb and possible breakout around 30 May. Suggest a wait and see approach before making any ARDR decisions. As always do your homework and make your own investment decisions.
Long
by Wetdog544
BTCUSD Bullish after Declining broadening wedge, buy&sell quickHi Guys, quick Analysis, i spotted a declining broadening wedge on BTC USD. After H&S formation the support couldnt even be broken by the downtrend after H&S, now trend switches probably and goes for formation target at the first highest high of formation @ 15300 USD after breaking declining broadening wedge top-line. Wait for confirmation and once it breaks the falling trendline on top buy for quick profits with sell order at 15300 or close below. Formatino confirmed by 2 touches on each line !!
BITSTAMP:BTCUSD
by crypto_heroes1
Ascending broadening wedge - two possible scenariosThis is an interesting move folks; identifying an ascending broadening wedge pattern has the same chance more or less to continue downward or to breakout and go upward. In my opinion, based on the bigger trend's descending triangle wedge, and the minor descending triangle wedge following it (the fib retracements placed on the graph), my bet would go towards the bearish breakout. What do you guys think? Below are some interesting facts to use in your strategies: Bearish breakout If the wedge’s lower support line breaks, the probability that the price will reverse and continue back up is higher than it falling lower. The odds are close at about 51:49. Selling at a downward break of the mid line of the pattern greatly improves the odds of success. If the price breaks the mid line of an ascending broadening wedge, there’s a 53% chance that a further downward move will happen. Bullish continuation From historical currency data, there is about a 55% probability of a further bullish advancement after a break of the upper resistance line. The bullish move lasts at least for the same duration as the pattern itself. Based on historical forex data, the ascending broadening wedge typically ends in a bearish or downwards correction in price. But only just.In 47.8% of the patterns, the upside move was greater. Reference/Read more at: forexop.com
COINBASE:LTCUSDLong
by telnemri
2