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Falling Wedge

💱GBPJPY - The counter-trend correction may end soon GBPJPY is in the correction phase amid the global uptrend. The Central Bank may stop raising rates, which will predictably affect the pricing of the pound. A wedge is forming within the correction, which is an interesting set-up against the backdrop of the GBPJPY currency pair TA on the high timeframe: 1) The Japanese Yen may continue its weakening. In this case, the pound, on its background will begin to actively strengthen 2) Within the wedge and against the background of the indicator on the D1 chart, we see the formation of consolidation (wedge against the background of the uptrend). In the future, the growth of the currency pair may continue TA on the low timeframe: 1) We have an actual descending channel. Consolidation is formed in the range between 183.4 - 182.7. 2) A descending wedge is also forming on the chart. Statistically, in this case, most often the price breaks the resistance figure to end the counter-trend correction 3) We are waiting for a breakout of the triangle resistance with subsequent growth. 4) But the consolidation of the price below 182.7 will be a signal for selling. Key support📉: 182.7 Key resistance📈: 183.5
Long
by AndeWave
10
GOLD → Breakout of global trend resistance OANDA:XAUUSD reverses. The price overcomes several resistances and updates the local high, when retesting the liquidity area, to 1935 If we pay attention to the high timeframe, we can see that the price overcomes the resistance of the downtrend (wedge). The daily candle on Monday closed almost at the daily high, which is a strong signal that with another retest of the previous day's high, the growth may continue. Also, I am very likely to expect growth, but only after a retest of the previously broken support area. That is, in our case there are two zones for buying, it is the zone near the support (liquidity area 1930-1928) and the zone above the resistance 1934-1935. If this line is broken and the price consolidation above the level, we can also buy. Moving averages continue to realize the formed buy signal Support levels: 1928, 1930 Resistance levels: 1934, 1935 I expect growth in the medium term. The price breaks the resistance of the bearish trend and gains the target - the retest of 1950 OANDA:XAUUSD CAPITALCOM:GOLD COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
19
STXUSDT → Price over the wedge resistanceBINANCE:STXUSDT breaks resistance amid bitcoin consolidation. Earlier, a false breakout of consolidation support was formed, which influenced the trendline breakout We see a prolonged consolidation formation in the format of a descending wedge. Yesterday, when BINANCE:BTCUSD began to strengthen on the background of weak positive news, Stack/TetherUS broke through the resistance of the figure. A day later, we see the price consolidation above the line and now, if the consolidation is successfully realized, the price may reach 0.5447 in the near future. Regarding the indicated resistance - 0.5447. This line delimits us from a strong bullish growth. If the coin is able to break this resistance on a retest, then in the medium term we could see a rise to both 0.8779 and 1.1924 Support levels: 0.4371, trend line Resistance levels: 0.5447 I expect growth to the resistance of the range with the subsequent breakout after a small pullback. Regards R. Linda!
Long
by RLinda
11
PSNY Giant Falling Wedge (reversal) Weekly & DailyFalling Wedge Pattern for PSNY chart, Polestar In this chart analysis, it's evident that there's a potential buying opportunity if we manage to reclaim the indicated level (previous gap after Earnings). This could take 30 to 45 days, as institutional investors are not very interested in buying this stock. However, it's crucial to exercise caution and patience, especially considering the need for a CMF (Chaikin Money Flow) reversal within the green zone. While there's a possibility of a lower buy-in, it's important to remember that there are no guarantees of a bounce at this stage. Traders should keep a close eye on CMF indicators to confirm a favorable entry point before taking action. In addition, is there a potential positive divergence in the PPO (in formation)
NASDAQ:PSNYLong
by Maximus20000
RUNEUSDT → A retest of resistance could break the line BINANCE:RUNEUSDT gives us new prerequisites for further strengthening of the price. Another resistance retest is forming, which can break this zone on the background of local BINANCE:BTCUSD growth Several key elements are marked on the chart. The descending wedge, resistance retest, pre-breakout consolidation - all this can be regarded as a complex signal for a breakout of resistance. On the background of bitcoin's local strengthening, which occurs after breaking out of resistance, this could date a chance for RUNE and in such a case, the price when breaking through the indicated line could head towards 3.04 and give us almost 60% net move. The moving averages formed a strong signal a few days ago, which could be confirmed soon when the price breaks the upper boundary of the range Support levels: 1.722, 1.433 Resistance levels: upper boundary of the wedge, 1.942, 2.015. I expect that on the background of the next retest of the trend resistance the price may break it and start an active phase of strengthening towards 3.040 Regards R. Linda!
Long
by RLinda
13
💱GBPUSD - A descending triangle will send the price to 1.23680GBPUSD continues to move within a strong downtrend. The price has already lost 5.3% from the high and is ready to lose more. A pattern is forming which could send the price to 1.23680 TA on the high timeframe: 1) Failure of the support at 1.25479 will form a new impulse and a new level 2) A stop at 1.24450 forms a support and 3 days later the price comes back to retest this line. The market is preparing for a breakout and further decline TA on the low timeframe: 1) A descending triangle is formed, which can be interpreted as sellers' pressure on the support area 2) The line is already broken and now either consolidation or retest will be formed. 3) Support at 1.24500 plays an important role for us. If this level is broken and the price consolidates below it, the potential for a possible decline to 1.23682 will be formed. Key resistance📈: 1.25000, 1.25279 Key support📉: 1.2463, 1.24500
Short
by AndeWave
7
CHRUSDT → The bulls are holding the price above resistance BINANCE:CHRUSDT breaks the resistance of the wedge and gives us a good signal for a possible strengthening of the cryptocurrency pair while the market flagship - bitcoin makes a volume shakeout On the BINANCE:CHRUSDT chart below, I have marked the strong 25400 level. We can see that price is testing this area in a false breakout format. The problem with bitcoin's weakness is that there aren't many short-term traders. Most of the volume is with medium and long term holders, hence the activity which moves in cycles over a long distance. CHR breaks through resistance, but the moment BTC falls, the price comes back and tests the previously broken boundary. At the moment of flagging strength, CHRUSDT forms a consolidation above the line and starts to turn the price up. An important resistance for us is 0.1092, if the coin overcomes it, it will open the way to the mentioned targets Support levels: 0.0956, 0.0826 Resistance levels: 0.1092 As the coin has strengthened above the previously broken garnet, I expect a breakout of 0.1092 and further growth Regards R. Linda!
Long
by RLinda
15
EURCAD → Symmetrical triangle may continue the trend FX:EURCAD forms an interesting set-up, which in the medium term, if the right scenario is realized, can continue the previously formed bullish trend. On the chart, I noted a symmetrical triangle, which is developing within a global flat formation after a prolonged growth of the currency pair. Another resistance retest still cannot break the resistance, the price will form a correction and local consolidation. It is possible that the price may form a small correction to the support at 1.4656. From the mentioned level may be followed by another rebound and further growth. But, the forming local consolidation near the triangle resistance may also lead to the breakout of the figure resistance, consolidation above the line will be the confirmation of the buy signal. Also we should not forget that the price, on the background of unpredictable events, can break the support of the figure and in this case the price can quickly reach the support at 1.44894. Resistance levels: the upper facet of the triangle, the level of 1.4771. Support levels: support of the figure and 1.4656. In the long term, I expect a breakout of resistance and further growth, but the opposite scenario may follow, when the price may break the support. Regards R. Linda!
Long
by RLinda
13
💱EURGBP - symmetrical triangle. What's next?EURGBP is forming consolidation. Two scenarios can develop in relation to the symmetrical triangle: breakout of resistance or support TA on the high timeframe: 1) A bearish trend is formed. The price forms a pre-breakout consolidation around 0.85200 2) False breakout of liquidity area, price may reach 0.85300 area in the nearest future. TA on the low timeframe: 1) Symmetrical triangle, price bounces off resistance and may soon test support at 0.85300 area 2) A rebound from support is also likely. 3) It is actually difficult to trade inside triangles. It is best to wait for a breakout of one of the boundaries and open a trade in the direction of the breakout Key support📉: 0.85300 Key resistance📈: 0.86000
Short
by AndeWave
3
BTC: LAST SMALL PUMP, BEFORE THE BIG DUMP!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this quick BTC update. BTC has been in a very quiet mode for this whole week. It is still moving in the same range. The good thing is that it is still holding the support of $25.6k level. As you see in the chart, it is forming a small falling wedge-like structure in a 4-hour time frame. Once it breaks out from it, we expect a small pump up to the FWB:27K level. After this small pump, the real September bearish rally begins. So if you are trading actively than try to book your profits quickly and do not trade without SL. Overall, I'm expecting a small bounce this week before the big dump. Let's see. What do you think about this? Share your views in the comment section. If you like this idea then do support it with like and follow. Thank You!
Long
by CoreCrypto1
4
TLMUSDT → Double bottom breaks resistance BINANCE:TLMUSDT is forming a double bottom on the chart. The market enters the phase of pattern realization, and also begins to use the previously accumulated energy BITSTAMP:BTCUSD momentarily stops its fall near the area of 26000 and stands still for a long time. Yesterday the flagship formed an impulse based on fundamental factors, which provoked a bullish movement on the altcoin market. The double bottom is entering the realization phase, the price breaks the resistance of the descending wedge and forms consolidation. It is important for us to wait for the price to finally consolidate above the pattern resistance and form a bullish potential. Support Levels: Pattern Resistance, 0.00936 Resistance levels: 0.01142, 0.01227. I expect the growth to continue, if the bulls can hold the price. Medium-term target is 0.01515. BINANCE:TLMUSD BINANCE:TLMUSDT BINANCE:BTCUSD BINANCE:BTCUSDT Regards R. Linda!
Long
by RLinda
12
SDOW: Bullish Dragon and Deep Cypher with PPO ConfirmationThe 3x Inverse ETF of the Dow Jones Industrial Average has formed a Bullish Dragon and has broken free from it at the PCZ of a Bullish Deep Cypher with a Bullish PPO Confirmation Circle. If things go as one would expect, then we will see this ETF pump up to at least the 61.8% Retrace, but given how Bearish so many of the Heaviest Weighted Holdings in the Dow look right now like: MCD , UNH , MSFT , GS , and AAPL , I now think we may even go as high as the 88.6% Retrace.
AMEX:SDOWLong
by RizeSenpai
1
BELUSDT → Moving into the realization phase of consolidationBINANCE:BELUSDT feel better than the same BITSTAMP:BTCUSD which is preparing to fall. The weak market and red bitcoin speaks volumes, but at the same time there are coins in the market that can show good potential On the BINANCE:BELUSDT chart, I pointed out the descending triangle and we see the breakdown of the main scenario and purpose of this pattern. The price is breaking the resistance and trying to form an impulse. The market is moving into the phase of realization of the accumulated potential and only 0.6894 area separates us from the distribution. If this resistance is broken, a rather active bullish impulse to 0.9000 or even to 1.2000 may be formed. In the near term, the price may move into local consolidation between the previously broken triangle boundary and 0.6894. Another retest of the resistance may lead to its breakout and impulse. The price is testing MA-200. There may be a retest after the pullback. Support levels: 0.6210, 0.564 Resistance levels: 0.6894, 0.7150. I expect consolidation and retests of 0.6894. One of the next retests may lead to a breakout of this resistance, which will form an impulse to the above targets. Regards R. Linda!
Long
by RLinda
11