Get started

Descending Broadening Wedge

EURJPY, Buy on H5Note : descending broadening wedge pattern has been formed, then we can buy when the price returns to the support level, wait for the rejection candle to form (e.g bullish engulfing candle, pinbar .. etc) **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
XBTUSD 1D DESCENDING WEDGE BULLISH BREAKOUT CHART PATTERNDescending Wedge is a repeatable Triangle trading chart pattern. Descending Wedge chart pattern will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of average volume for a full position size. b - If 75% of average volume then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
BITMEX:BTCUSD.PLong
by Tradingstrategyguides
2
McDONALDS 1D BULLISH WEDGEWedges are repeatable trading chart patterns. Wedges are a form of Triangle chart pattern and will have a specific directional breakout bias. A descending wedge has a bullish long breakout bias. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of average volume for a full position size. b - If 75% of average volume then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
NYSE:MCDLong
by Tradingstrategyguides
ZEC weekly log scale SharkUsually when measuring the retracements for potential harmonics we use the Linear Fibonacci scale but i think it might be acceptable to use the FIB tool adjusted for log scale in certain instances and this is one of them. Pay no mind to the numbers auto generated by the Cypher tool as those numbers are only Linear scale retracements and the tool doesn't have a log scale adjusted option like the FIB tool does. For those who would like to check the measurements themselves I have color coded each individual set of waves: XA-B retrace in Orange AB extension to C in Blue BC extension to D in Green X to C retrace to D in Black. I have also marked the PCZ of the shark in the Blue Box if pattern is valid we will see a reversal between the 886 and 1.13 retracements. Price-wsie that's between 37-15 dollars Yea i know, that's a huge zone of reversal but that's the nature of a Shark pattern. because of how big the reversal zone is it is too early to plot fib targets for the pattern for i currently don't have a definite price to fib from yet but something i can say is no matter where it reverses in this zone even a 0.382 and 0.50 retrace would yield a 100-200% move. Alternatively I have also spotted a broadening and descending wedge marked in the green trendlines and are currently showing TDI-RSI bullish divergence from the lows back in December and February to our current lows a breakout of the wedge on it's own gives us a measure move back to around 300 if we're being conservative. ZEC has never been my favorite coin but based off the technicals presented here i find no harm in trying to own atleast a few of them then forgetting about them to see how this pattern plays out.
POLONIEX:ZECUSDLong
by RizeSenpai
1
USDJPY, Buy on H1**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together. ___________________________________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
Tesla Long Here is a macro picture for Tesla on the weekly time frame. Tesla broke out that descending channel that was trading in for months , retested forming a descending wedge that also broke up to the upside , and now and on its way up . Long term positions with profits at 0.5 => 279, 0.618 => 302 , 0.786 => 335 Currently price is above the 21 ema -blue line- and 20 ema -white line - with the 21 ema being higher than the 20 ma In most cases while 21 ema stays above the 20 ema price runs to the upside, when the opposite occurs price action tends to become less volatile and retests the 20 ema with possible change on trend .
NASDAQ:TSLALong
by django2
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
BTCUSD H1 chart (8/23/2019)Good morning, traders. Price hit our target from yesterday. The H1 chart is what I posted to our premium Discord community prior to price popping up this morning. At this time, the H1 RSI and Stoch RSI still have room to continue higher. If price closes above the ascending channel resistance in the next two hours, then we should be looking for it to target the ~$10800 level which is at the EQ of the H4 supply. That will then take price above the descending channel/broadening wedge resistance which should indicate a target of the R2 pivot at $12500. Obviously price won't spike up to that point, so traders should expect pullbacks along the way. Zooming out to the D1 chart, traders will notice the large ascending channel whose EQ price just popped through. Price is now on the topside of that channel once again, which is bullish. Today's large green candle, if it closes as such, should confirm yesterday's possible reversal doji. The H4 is starting to look more bullish with this recent move up. We can see expanding volume and candle spread from the August 21st swing low. A close above the pivot would be considered bullish. H4 RSI is nearing its descending resistance with a close above it likely signalling the larger move up. Stoch RSI is overbought but has room to continue moving up for now. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
COINBASE:BTCUSDLong
by Chris_Inks
5
ALGORAND SMALL PUSH BEFORE BINANCE PURGE?In this ALGO/BTC chart we can see a descending wedge forming and almost completeing. With this hour close if we close outside the wedge we could ALGO take a nice quick pop. In a few of the last patterns we can see on the same low time frame this isnt the first time algo has done this. It runs down and pumps up quite a bit. I think well take a bet it does the same thing again. Ive picked up a small bag and riding it out to my targets of 600 and 650 sats.
Long
by PhilupMyBags
CHK double bottom and descending wedge.In this chart you can see that the red line is representing a potential double bottom, as well as the light blue lines representing a descending wedge. currently watching for a bounce and test of the top of our descending wedge, and possible breakout upwards afterwards for the long term. This setup may be quickly invalidated due to fundamentals that the company is going through at the moment, and is severely affected by the price of gas. As one of the most traded stocks on the NYSE, this is definitely one to keep your eye on.
CLong
by CookieMonsta
4
LITECOIN Ready To Show Altcoins The Way? (210% Profit)D4rkEnergY is ready to spread more Love and Wisdom to you guys, so you can make some money! His BTC-calls lately have been extremely accurate, even his hater, dont say anything anymore. Its a bit of shame, cause I got a lot comments, which gave me reputation points. But thats how it is, when you are a Stellar Trader. Anyway, back to the topic - Here is an excellent opportunity. This is Litecoin (LTCM19) on BitMEX, which you can play with 10x leverage (always use a Stop Loss, and never play more than 10x). If you dont have BitMEX, You can also go in on Binance and trade LTCBTC! But lets jump right into it, and see, why this is such a good signal. Bullish Structure - But Alts are Dangerous On the 4 hour you can see how we are trading inside a descending wedge, which is a bullish formation. Notice how we managed to make an extremely good bounce on exactly the end of the 70% Value Are on the Volume Profile Here we always have huge support. Litecoin is one of the altcoins, which are in the neutral zone. Only BTC and ETH are in a Bull Market, and most other alts are in bear market. Litecoin has before shown its power, and have led the race, so maybe its time to come back now, which is a good time, hence BTC most likely will spend a day going sideways. The last reason why LTC might be a good signal is the regular Bullish Divergece - Just remember, that altcoins are extremely shaky at the moment, and if BTC makes sudden spikes it can ruin the pattern. With Love from D4 - and leave a LIKE, please!
LLong
by D4rkEnergY
Descending wedge morphs to Ascending So as I stated in my last publication hope for the best expect the worst and in this case we got the best!! That volume accumulation i posted toward the end of the publication (which was not originally there at the start of TA) which just goes to show you the volatility of such an exciting and growing market still in its infancy. Thanks to the 99% aka minnows we have managed to Stop the whales from shorting hence no pivot & consolidation but direct continuity and next stop at $8440. Market was oversold and volume had drastically dropped but it did not seem like the HODLers we’re willing to wait for this weekend to end or Monday/Tuesday for their consolidation. This is ascending wedge has presented us with a short opportunity and my guess would be at our next target 8440. Update more later!
BITFINEX:BTCUSDShort
by a1mtarabichi
1
BTCUSDT/BTCUSD 4H/15 min charts (6/11/2019)Good morning, traders. Price has been consolidating/retracing within the expected area mentioned yesterday and looks ready to head higher up now. Once price exits through the descending broadening wedge's resistance, it will be back above the 4H pivot which is bullish. We should then see price targeting ~$8480 based on the height of the flagpole leading up to the wedge. This targeted level also happens to be the 4H R1 pivot, but may change depending on how long it takes price to rise through the wedge's resistance. There is also a slightly lower target of ~$8297 based on the height of the widest part of the wedge. Like the flagpole target, this could change depending on how long it takes price to exit the wedge. Shorter-term, price printed a descending channel at the bottom of the descending broadening wedge as it bounced off the 61.8% retracement of the recent move up. Having pushed through the channel's resistance, price has a projected target of ~$7880 based on the height of that local channel. This move down over the past 24 hours has done nothing more, so far, than retest the previous descending channel's resistance as support. As such, price still has a target of ~$8973 based on the height of that channel as well. On the 15 minute chart, I would watch for RSI to breach the descending resistance to indicate upward price progression. The 4H chart shows RSI printing an ascending channel. If RSI happens to fall through the channel support, it is likely we will have to re-evaluate the expected price movement. As long as it remains within the channel, however, price should continue on the path outlined above. The 1H chart is printing bullish divergence in RSI and Stoch RSI is bottomed out in oversold and printing a bullish cross. The 15 minute Stoch RSI is looking taxed at the moment, so we may see price print a small TR as it resets if we don't see it pop up soon. If price, for some reason, does not head up from this level and instead moves down, then I expect the lower blue demand zone to provide the bounce. Ultimately, my expectation remains the same -- that price will continue to climb within the large purple ascending channel on the 4H chart that price has printed since it started the 3rd wave up from the $3300 level. As such, we can see that there is the possibility that price could continue sideways for a bit longer as well without violating channel support. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSDLong
by Chris_Inks
1