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Descending Broadening Wedge

GBPUSD Breaking out of a Descending Broadening Wedge> Weekly pulled back to .618 Fibonacci, horizontal support, 200ema and found support to start a bull run now 3 weeks in. Possibly looking to reach the recent highs area at 1.4200. > Daily formed a descending broadening wedge & is currently starting to breakout to the upside. 1. Price could continue breaking out on the daily and form a small pullback to retest the wedge and horizontal support (maybe 1 hour flag over a few days) before continuing to 1.3950 which is the top of the pattern. OR 2. This could be a false breakout of the wedge. Price could make a larger pullback, moving back into the wedge and forming a higher low around 1.3500 horizontal support/ .382 Fibonacci/ 50ema, before forming a reversal and breaking out of the wedge again making a run to 1.3950 to 1.4200. Invalidation for an entry would be price continuing to run to target without pulling back or price moving back into the wedge and failing to form a higher low, moving back down to the lows. A negative is the monthly did form a double top and is in a bearish run.
Long
by DaneilDG
1
YETI Long & Short, timing is everything.YETI Short Term View: Long Descending wedge still has room to develop. Watching for a breakout to the upside and targeting $92 area. Stock has sold off 30% from the top and if it continues its downtrend to the bottom channel it will be -35%. A rebound is likely with upcoming earnings unless the overall market goes into full crisis mode. Long Term View: Short Assuming this bounces from oversold levels, I am looking to initiate a short position due to overall market and a lot of other names already crashing (ZM, OSTK, PTON, etc, etc.) Along with what i see to be earnings deceleration on a lot of companies after the stimulus dried up, no unemployment, inflation pressures, interest rates, fed tapering, etc.
NYSE:YETIShort
by SheepWoolos
DESCENDING BROADENING WEDGEDescending broadening wedge happens during a downtrend. which in case of breaking the Resistance of the wedge it can bring in a good setup for a long on the asset. Price makes a low and rises. We then track price as it rises away from the low. We are looking for lower highs and lower lows in a tight range. The lower highs make a falling trendline, this forms the upper boundary to our pattern. The lower lows make a lower falling trendline, this forms the lower boundary to our pattern. With the Descending Broadening Wedge formation, we are looking for two touches to each trendline. Both the upper and lower trendlines should fall. The lower trend line should fall more steeply than the upper trendline thus forming the broadening wedge.
TVC:SPXEducation
by Zivul33
2
Bitcoin is about to take off! Get Ready!Bitcoin continues to repeat itself. Will it do it again? The current RSI has formed an almost identical pattern as it did in September. During this time it was forming a descending wedge/pennant/triangle. Currently we are near the apex of an identical wedge and the RSI reset almost exactly like this at the end of September before it took off from 39K to 69K. We also appear to be bottoming out on the Bollinger Bands, as we were in September before making a 30K move. The first wave up was 23K and the second wave up was 30K. I anticipate a breakout move to 80K from here. That would be about a 25K move from the bottom(assuming 55K is the bottom).
BITSTAMP:BTCUSDLong
by anamaly
1
BNB Update Analysis!BNB UPDATE ANALYSIS! As you can see my yesterday prediction price about BNB. i suggest BNB will make falling wedge bullish pattern. But suddenly BNB drops the price until reach 570.1. But after the effect. I can see another bullish pattern that possibility appears on BNB H4 Timeframe chart. BNB now have possibility to create D.B.W bullish pattern. As you can see on stochasitic indicator. There will be make regular bullish divergence. So the stochastic and DBW pattern may be the reason behind BNB will goes on the bullush trend again. I also predicting that BNB bullish move 688.7 - 707.8 price range. Because there are 3 Fibbonaci cluster areas with the golden ratio converges in the area of ​​the price range. Note : The market will always change, I'm just sharing my view on the possibility the market will go away. If you have a different perspective from your analysis view, let me know in the comments.
by ivanderyoshua
Descending Broadening Wedge Pattern GBPUSDDescending Broadening Wedge, possibility appears on the GBPUSD H4 Timeframe. This pattern may show the price goes into a bullish move after this pattern is completed. The target that is expected to be achieved is the same as the length The DBW pattern itself and also there is resistance levels are also adjacent to the target of the DBW pattern. Note : The market will always change, I'm just sharing my view on the possibility the market will go away. If you have a different perspective from your analysis view, let me know in the comments.
by ivanderyoshua
3