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Rising Wedge

BluetonaFX - EURGBP Rising Wedge SHORT IdeaHi Traders! There is a rising wedge pattern on EURGBP, which signals a possible reversal of the bullish trend we have seen over the past two months. Price Action 📊 The market failed to break the previous resistance at the 0.87014 area, which led to lower highs and lower lows market swings, followed by a momentum break below the 20 EMA. This shows that there may be new waves of bearish volume entering the market. We are looking for a bearish break and a close below the support trendline. Fundamental Analysis 📰 Traders seem to be uncertain about the euro after ECB president Lagarge claimed that she is confident the ECB's policy will bring inflation back down to their 2% goal. Support 📉 0.86140: SUPPORT TRENDLINE Resistance 📈 0.86428: PEVIOUS DAY'S HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
Bank Nifty - Long Term Analysis Technical Analysis: Bank Nifty down by over a percent today, it led me to analyse its long term charts and what I see is not that great (P.S-I am not an expert) Let's start with the big question, is it forming a Rising Wedge? It clearly looks like plus it has tested the resistance for over 6 years now. Now talking about the weekly chart of bank nifty, it looks like it is forming a double top and although now it is around the support level but it looks that it can be easily broken. The worst would be when the rising wedge breakdown confirms On the Monthly chart there has been a bearish engulfing followed by a shooting star (both Bearish) and this month has confirmed the bearishness so far. Also I analysed the sector charts of both private and public banks, and private banks charts looks similar to the bank nifty (double top) bearish - considering bank nifty % is dominated by the pvt banks coz of market cap. Now Public banks have given massive wealth to the retailers and now is around its all time high, also it has been one side rally so not a lot of consolidation and is around the supply zone or resistance. Another negative point. I have also marked a support level to which it can come down plus you can consider 200 MA on weekly as another support Fundamentally banks have been performing well on many parameters and will continue to do so but it feels like the time when there will be massive profit booking specially from FII's as their accounts get closed by the end of December unlike ours end of march. This is not a trading call, just my analysis. So be cautious if you trade. Would love to know your comments if you agree or disagree, here to learn and understand your point of view
NSE:BANKNIFTYShort
by VArun1000
Bitcoin is extremely bullish and left people in disbelief! Bitcoin continues to rally from the bottom of 24920 to 27137 and is heading towards 28650! This is going to happen; the bull market is absolutely awesome, and profits are huge! If you are following me, I have been bullish almost from the bottom of the last big dump while the majority is still shorting Bitcoin on futures, which can also be seen in the negative funding rate on exchanges. I hope you guys are enjoying this bullishness as much as I do, and I wish you massive profits! From a technical perspective, the price of Bitcoin is moving in the ascending parallel channel on the 4H chart and will touch the trendline in the first week of October! This is also a strong resistance because of the 1:1 Fibonacci extension from wave (1) -> wave (2). October, November, and December are statistically bullish months for Bitcoin, so we should expect an uptrend this season. Summer is usually boring, and September is usually bearish. I see bullishness on Ethereum and altcoins, which is another good sign for the crypto market. DXY is pretty bullish, while Bitcoin is bullish as well, another strong sign! What about gold and silver? These assets are going down, while Bitcoin is also rising, making a bullish divergence another good sign! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and privately. Thank you, and for more ideas, hit "Like" and "Follow"!
BITSTAMP:BTCUSDLong
by UnknownUnicorn2537518
133
Ethereum is starting a new bull market! (after 2 years) After almost 2 years, ETH is starting a new bull market. It's still a great time to buy before ETH reaches 10,000–20,000 USDT per coin! So why is ETH bullish? To answer this question, we need to use the Elliott Wave theory and chart patterns on the weekly chart. As we can see, we have a strong Elliott Wave nest (1-2-1-2) with a combination of the previous ABC Zig Zag (3-3-3). This combo is indeed powerful! What's more, we can see an ascending triangle at the bottom of the trend, which is an even stronger bullish sign! You want to buy Ethereum and Bitcoin as soon as possible to earn a lot of money, as the price is still very cheap. Profits are already insane, so be greedy and enjoy the ride! What is the profit target? You do not want to sell ETH for less than 10,000 USD per coin, that's for sure. As per my analysis, ETH could reach 20,000 USD in 2025, which you will see in one of my next analyses, so make sure you are following me! But of course, in the short term, we have some strong resistances, such as the 0.618 FIB at 2534 USD. Definitely a good profit target for swing traders. I really look forward to 2024 and 2025, which will be bullish months! At this moment, probably 95% of traders are gone; they left the crypto space because, of course, they lost money during the previous bear market and were forced to sell their holdings. Some people may say that people should hold strongly and never sell, but if someone has to pay the bills, they are forced to sell it. So it's easy to say, right? This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and privately. That's my outlook; be bullish and have a nice day! Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
57
IBM Bearish Pattern!!!When taking a look at IBM, we an see that it has had an impressive climb over the past few weeks. This bullish climb is also printing a bearish reversal pattern. The rising wedge breaks out to the downside more than it breaks upward. With this being said and the price action approaching the end of the wedge, i would expect a drop from these levels to the next support around 5% down. If you end up taking a trade, use risk management so you don't lose more than 1%-2% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! Don't trade with what you're not willing to lose. Calculate Your Risk/Reward! This is not financial advice. This is for educational purposes only.
NYSE:IBMShort
by Navitility
AUDCHF ↘️ Rising wedge pattern analysisHello Everyone 🙋🏽‍♂️ As we could see at the end of the Ascending channel, The price isn't crossing the zone 0.58700 and the rising wedge pattern is braked and retested the price is going down now . be ready We are not responsible of any losses for anyone, our trades are profitable more for long terms and we take losses as everyone, manage your lot size as well and your SL and TP Don't forget to hit the like bottom and write a comment to support us. Follow us for more 🙋🏻‍♂️ Best Regard / EMA Trading . Disclaimer: ---------------- It's not a financial advise, As everyone we take losses sometime but for long term trading we are profitable traders, so manage your account well with SL and TP and your lot size to keep your account safe and stay in the market .
Short
by EMA_Trading
STMX/USDT 4-hour short trade opportunityBINANCE:STMXUSDT STMX/USDT 4-hour short trade opportunity The price has been rejected twice at the rising wedge pattern and is now testing the horizontal level (HL). The weakness in price momentum and bearish divergence confirms that a sell-off is likely in the coming hours. Overall, this is a Bearish setup for STMX/USDT, and a Short position could be considered. Please note that this is not financial advice, and you should always do your own research before making any investment decisions.
SShort
by ChartsInsights
Bitcoin - Price in 2025 revealed! (Take profits here) The price of Bitcoin will be 120,000–130,000 USD in Q2 2025, according to my technical analysis! There is a strong confluence to sell Bitcoin here, and a lot of people will do it, so make sure you take profit in the next bull run. First of all, this is an analysis of the weekly chart on a linear scale, not a log scale. If we take the Fibonacci extension from the end of the previous bear market in 2018 to the end of the previous bull market in 2021 to the end of the previous bear market in 2022 (dashed white line on the chart), we get really interesting numbers! The most likely is the 1.618 FIB extension, which is 122,011 USD! But we also need to take the 1:1 FIB extension into consideration because this is also a strong resistance, but only for a short-term bounce. We also need to take a look at trendlines. In this case, the trendline from 2017 to 2021 gives us a projection for the next possible touch. It should be in 2025, and it's also around 125,000 USD! If you find this analysis helpful, hit the like / boost button right now! There is not too much place on the chart anymore, so let's do more data in one of my next analyses! But what I also want to mention is the time variable. 1428 days +/- was the duration of the bear cycle and bull cycle between 2017 - 2021. If history repeats itself, then the bull market should end in October 2025. And I cannot forget to also take the Elliott Wave analysis into consideration. It works really well on Bitcoin, and wave (1) + wave (2) should be completed. We already started wave (3), which is usually the strongest! So I hope you look forward to the upcoming price action. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and privately. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
158
Rising and Falling Wedges ExplainedWelcome to the world of trading patterns. If you appreciate our charts, give us a quick 💜💜 Today, we'll explore two important ones: the Rising Wedge and the Falling Wedge . These patterns can signal shifts in market trends. Let's dive in and see how they work. Rising Wedge: In an uptrend, the Rising Wedge hints at a bearish turn. It takes shape as prices find a middle ground between two upward-sloping lines, one as support and the other as resistance, both inching closer. As the price inches towards the wedge's tip, its upward push tends to fade, suggesting a potential shift to a downward trend. Your sell signal triggers with a bearish break beneath the wedge's support. Set a stop loss just above the wedge's highs. Aim for the next significant support level. Falling Wedge: Unlike the Rising Wedge, the falling wedge spells optimism in a downtrend. It emerges as prices consolidate between two downward-sloping lines, one providing support and the other resistance, both drawing nearer. As prices approach the wedge's apex, the downward momentum loses steam, hinting at a potential shift towards an upward trend. Your buy signal activates with a bullish breakout beyond the wedge's resistance. Place a stop loss just below the wedge's lows. Target the next notable resistance. Feel free to let us know your thoughts and if you have any questions. Your feedback is valuable and helps us improve. Happy trading!
Education
by Vestinda
21
A Bearish View of ETH Indicates a Deep CorrectionIf we look at INDEX:ETHUSD from a bearish perspective, it shows potential for significantly more losses. There is a rising wedge that has 1x and 1.5x targets around -720 and ~520 on the logarithmic chart. The linear chart's rising wedge targets ~350 or near to the log chart's wedge target's 2x measured move down, which lies just above around ~375. The lowest targets sub 400 also line up with the lower trend, or the dashed orange line at the bottom, which could be seen as a channel that hasn't yet re-visited channel bottom since making highs. Should we see a bearish exit of the rising wedge, I expect we'll visit that sub-400 area, possibly even wick below 300. All that said, there's also a case to be made for a bullish expanded flat here, but that's not what this post is about. I would expect this bearish scenario to be more likely to occur should TVC:DXY continue up beyond 105-106 -> 112, without an extended move back down to support areas around 98-101 or lower.
COINBASE:ETHUSDShort
by dudebruhwhoa
4
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
BTCUSD: A Bearish Deep Gartley Has Staged BTC to Return to $6065This is a followup to the previous Bearish ABCD trade; BTC has officially with PPO Confirmation, has reversed from the PCZ of the Bearish ABCD to which I later realized the ABCD was part of a much greater Bearish Deep Gartley, and now we are below the 200-Day and 200-Week SMAs along with that we have broken below the demand line of an apparent Rising Wedge Pattern all at a 23.6% Fibonacci retrace which is a very shallow and weak retrace to have this all occur, but that only means the move back down will likely be much deeper and stronger. We can consider what we initially got at the 0.786 PCZ of this Cypher as a Type 1 Reaction, but now it appears that price has been preparing itself to make a Type 2 Return, that will most likely take us to the Cypher HOP levels this time around which would land us at around $6000 once we hit that zone I will look for signs of Bullish PPO Confirmation before then anticipating a V-shaped recovery that should take us to new all-time highs. There of course is a scenario in which instead of making a lower low to the HOP we just bounce back up again at around 16k and that was where my previous projection took it but upon taking in more of the weekly data I have concluded that 6-4k is more likely especially if we start getting super fast movement down week after week but if it is instead a more calm decline that gives us a clean double bottom with some PPO confirmation around 16k instead then I will jump in early; until then I see 6-4k as the most likely target. For reference, I have included the link to the original Bearish ABCD chart and projection below as we may swap back to the original projection depending on the price action we get leading to both the original 16-12k Target and the new and current 6-4k target:
CME:BTC1!Short
by RizeSenpai
BTC QUICK UPDATE!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this quick BTC update. After the positive news of Grayscale's wins against the SEC, the market broke the long boring range. But the question is, is this enough to start a bullish rally? Let's find out.... As you see in the chart, BTC is forming a rising wedge-like structure in the daily time frame and it broke down. Now looks like it is going for a bearish retest. We have a very strong resistance at the $28k- FWB:29K level. As of now price showing initial rejection from this level but in the short term we might see another test of this zone and after that real fall begins. Overall the structure looks bearish. In the short term, we might see some greenery for a few days and after that another dump. 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!
Short
by CoreCrypto1
7
Ethereum - 76% crash to 389 USD! (must see, bear flag) My analysis shows an impressive crash is prepared on ETH after 427 days of consolidation in this bear flag on the weekly chart! It was a long time, and ETH has been going pretty much sideways. Now we have to expect huge volatility! The trendline of the bear flag is clearly breaking down with an ABC Elliott wave corrective pattern, which strengthens the bearish bias. It also looks like a wedge, but a wedge should have a 5-wave structure (a leading diagonal Elliott wave pattern). So this is a bearish pattern, and a 76% crash is absolutely coming in the next few months. You probably don't have too much time to think about what to do with your investments, but consider if you can handle a 76% crash on your spot or futures holdings. My recommendation is to sell, as it's too risky to hold it, and buying cheap ether later in 2024 is definitely juicy! Now what is the target, and where will the bottom be on ETH? We have a strong confluence at 389 USD and 387 USD because this is the Fibonacci 0.618 level of the previous bull market on the LOG scale and also because this is a 1:1 Fibonacci extension from wave (A) -> wave (B) of the current bear market! What's more, we have a first point of control over the volume profile, which you can see on the left side of the chart. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. As you know from my previous ideas, I expect Bitcoin to hit 10k next year. What would be really weird if BTC dropped and ETH rose? So 10k on BTC and 389 on ETH are my targets. I also checked more altcoins, such as DOGE, SHIBA, XRP, and LTC, and none of them looked bullish. The best is to stay in USD. Write a comment with your opinion, because I look forward to it! Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
112