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Broadening Wedge

GBPAUD, 4hr tf, breakout of broadening wedgeRecently, price managed to break below the support of this ascending broadening wedge pattern. Notice for price consolidate near the support before breaking below it. This consolidation looks like a bearish flag to me. We could expect price to continue go down towards 1.8100 area. The target of this wedge is at 1.8092 but we will aim to take profit a little bit above the target. Sell GBPAUD 1.8260 Stop loss 1.8320 Take profit 1.8110 (2.5R) Use only 1-2% risk Good luck
Short
by HayatoDragonFX
7
(update) XLM/USDT broadening wedge is still reliable!Hi every one STELLAR / TETHERUS this is only an update on XLM/USDT situation as you can see the XLM has not broken out of the broadening wedge and just touched the bottom line of this pattern but there are Hidden bullish divergences on MACD and RSI indicators now so this means the price has bigger chance to increase from this point rather than decreasing! Previous Analysis Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!! Thank you for seeing idea . Have a nice day and Good luck
Long
by CobraVanguard
11
XLM/USDT is ready to fly once again!Hi every one STELLAR / TETHERUS XLM/USDT is now in a broadening wedge! the price can range between this pattern Until the break out happens! as you can see XLM has reached the bottom of this pattern and now is trying to move to the top of this pattern! so this means XLM can touch It's ATH once again! Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!! Thank you for seeing idea . Have a nice day and Good luck
Long
by CobraVanguard
21
$FUBO Descending channel and Broadening right angled formationAfter reaching all time highs as a result of "short squeeze" during late 2020 $FUBO crashed to $23 forming a support line. The price of the stock increased to $58 per stock with good news on acquiring streaming rights of European Football games. People started dumping their stocks (including me) making a huge profit and got out of game. I would say overall Fubo is bearish and is trading between 2 red lines (descending channel) making lower highs and lower lows. During march the price fell below $23, breaking the previous support line and making new lows. What caught my attention is that the stock broke out of the descending channel by forming a broadening right angled pattern. The stock made 2 minor highs and 2 minor lows which confirms the formation of the pattern. Our previous support line turned into horizontal top resistance line and down slopping trend line once again confirms the broadening right angled formation. The stock made partial rise towards the top trend line but failed to touch it during last few days. I expect short term bearish continuation. I would expect 10-15% decline in price in upcoming 2 weeks. I would suggest to wait for the final confirmation of volume as in these types of formations prices can break out in either direction. This stock is on my watchlist and I made a good profit In January. I will give you an update next week if I see any signs of a breakout. Good luck and trade smart! (not a financial advice) Please like and share if you like my idea.
NYSE:FUBOShort
by faridisayev
BTC/USD situation explained! (read the caption)Hi every one Bitcoin / U.S. Dollar you might be wondering what is the BTC situation right now. well as you can see the Elliot waves principle has been completed and the price is ranging in a broadening wedge . the price is now near the bottom of the broadening wedge and is ready to fly once again! for now please try to NOT trade in futures because It's dangerous as hell and hold on to your portfolio ! :) note that after the completion of the Elliot waves the price can start a strong bullish movement! Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. Thank you for seeing idea . Have a nice day and Good luck
COINBASE:BTCUSDLong
by CobraVanguard
27
BCH/USDT has a great entry point!Hi every one BITCOIN CASH / TETHERUS It seems BCH is in a broadening wedge right now! this means the price can move between the wedge lines until the price breaks this pattern! for now the price has touched the bottom line of this pattern and started to increase! so there is a great chance that price would continue to rise from this point! in our prediction BCH can reach 1800$(in long term of course) what do you think? Our more recent analysis of BCH/USDT : Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!! Thank you for seeing idea . Have a nice day and Good luck
Long
by CobraVanguard
6
SOL/USDT on a bull run again!Hi every one SOL / TETHERUS SOL/USDT has started to move in a broadening wedge which is good pattern for bulls in this situation as you can see the broadening wedge can easily increase the price up to 56$! There is also a hidden bullish divergence (+HD) on MACD as well that is a great bullish signal as well! Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!! Thank you for seeing idea . Have a nice day and Good luck
Long
by CobraVanguard
21
SKL short-term break downwardI few days ago I published how a potential breakout might be occurring soon with regard to SKL on the daily chart, but I just wanted to update that there is now a potential short-term break downward instead after revisiting the 4-hour chart. It looks like after the dip from what looks to be a fake out from the other day, a bearish ascending broadening wedge formed instead (red dotted lines) that now looks to be starting to break downward. There looks to be a bit of resistance at the base of the current descending wedge (bottom red dotted line), but there is potential for a bit more of a dip against BTC in the short term, particularly if further BTC drops persist. And of course, this is not meant as financial advice and is just my opinion, but please like or comment if you agree or see anything differently.
by crypto_trends
ENJ/USDT is ready to do a strong bullish movementHi every one ENJIN COIN / TETHERUS ENJ/USDT is trying to form a broadening wedge it can increase to the top line of the broadening wedge. There is also a hidden bullish divergence on both MACD and RSI indicators which means the bullish movement is more likely to happen. Our more recent analysis of ENJ/USDT : Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!! Thank you for seeing idea . Have a nice day and Good luck
Long
by CobraVanguard
12
who is gonna take control of GBP/JPY? bulls or bears?Hi every one BRITISH POUND / JAPANESE YEN the GBP/JPY has formed a broadening wedge pattern with hidden bullish divergences on both MACD and RSI( shown in the left chart). how ever there is also a head and shoulder pattern on the chart as well which if the neckline breaks the price will decrease accordingly.(right chart) what do you think will happen? will it be bearish or bullish? Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!! Thank you for seeing idea . Have a nice day and Good luck
by CobraVanguard
25
#CAKE, #PancakeSwap Breaking out of Formation?A quick look at #PancakeSwap (#CAKEUSDT, #Binance, 4HR): Whether we see a wedge or a broadening formation, CAKE is broke up from it with a nice spike in volume. If confirmed, it could be a good entry. If it fails, price could go back to the $23-$22 level. If you want to read more about PancakeSwap on CoinMarketCap, click here . What do you think? Still learning here, so any constructive feedback and positive vibes to improve my analysis are welcome. But if you enjoy my chart, please like, comment or follow me. :) Thank you and Happy trading! ------------------------------------------------------ Needless to say, this is not financial advice!
Long
by BitfulMind
14
DXY to Continue Showing Strength as it heads towards 95We got in at the bottom and will continue to show conviction as the DXY attempts to back test the old 91-92 resistance zone as support. If successful the DXY should have clearance to rise to 94 and beyond. As of now the DXY is showing 3 layers of hidden bullish divergence on the MACD and 2 on the RSI while forming what looks to be a broadening channel above the 92 resistance area. I expect that this uptrend for the DXY will continue as the US Dollar continues to gain strength and overblown fears of inflation become shattered.
TVC:DXYLong
by RizeSenpai
CL > broadening wedge patternThis is a bottom broadening wedge where price enters from above and touch the lower line first. This is usually a reversal pattern but really it can break out either way. Usually after wedge is validated-( 2 touches of both lines but ideally at least 3 touches on one of the lines)- you will see a partial rise (or fall) before reversing again. I believe we are in the partial rise stage and price will reverse down. However, confirmation of short or long would be breaking an imaginary horizontal line from the rightward most side of either line. Just wait for the trigger.
NYMEX:CL1!Short
by UnknownUnicorn11430563
11