A Rising Wedge in the XLE is setting up a shortXLE looks like its forming a nice Rising Wedge on the daily chart. The bad news is we're heading into the Summer which usually leads to higher demand, and Rising Wedges aren't particularly good performers from a statistical standpoint. The good news is that they do offer about 2:1 odds of a reversal once the Wedge breaks. In addition, the momentum indicators are displaying significant bearish divergences, and regardless of seasonality, the macro picture is suggesting global slowing of demand for energy. Therefore, the sum of the evidence makes this look like a good short candidate for a swing trade.
Where it gets a little more tricky is deciding how to get short. As mentioned above, there's about a 2/3 chance of a reversal. The problem is that historically speaking, the average moves of the reversals (-8%) aren't much to get excited about. Over the next 30 days, the Options market is anticipating about +/ $8.84 of movement. This aligns nicely with the idea of a breakdown from the wedge, which could take price down to the Point Of Control on the Volume Profile aruond $76.
All things considered, I like the idea of trading this with a defined risk position like a vertical spread. Something like buying the $80 PUT and selling the $78 in the July 1st expiration. This is trading for about a $0.51 debit and would mature to somewhere north of $1.00 if XLE falls to $76 over the next 37 days.
Thanks for reading; all the standard risk disclaimers apply .
Rising Wedge
Will BTC crash to $10k-9k or retest that Rising Wedge?Monthly TF, BTC broke Rising Wedge, since then been going down.
Question is whether BTC gonna go back up for that retest or just crash down?
BTC was filled as a LV when it went from $9k-10k to $69k.
Rule of thumb: LV always get filled the same way it went either up or down.
But BTC $10k is incoming for sure and real as that LV need to be filled.
It's gonna be a crazy ride. Stay Tuned. Bear market is not over yet.
SQQQ Bearish Rising WedgeI know a lot of traders who are in the SQQQ banking on the idea that its on its way to retrace it's gigantic historical prices. I trade by patterns. Sometimes they work, sometimes they fail, for me they succeed more times than fail. What I see in the SQQQ is a rising wedge pattern. Rewind the clock 20 years ago and I would be chasing this breakout with the rest of the crowd. This along with bearish patterns I am seeing in the Vix, I see these 2 forces indicating a reversal in the Equity markets. Dow stocks seem to be leading the way. I think Nasdaq stocks will follow not far behind.
BTC: $35K OR $26K? WHAT'S NEXT?Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this BTC update. In my previous BTC post, I showed you that BTC is forming an inverse head & shoulder pattern and we got the breakout but it didn't go according to the pattern. This is just because everyone is talking about the same pattern (Inverse H&S) and market makers never want that more than 90% of people are right so they manipulate the price action. So we have to be extra cautious at this time.
Now let's get to the chart.
BTC is forming a rising wedge-like pattern in 4hr time frame. The direction of the breakout will decide the next move of BTC. If BTC breaks out (Break and close above $31.5k) from this wedge then our target is $35k or if BTC breaks down (Break and close below $29.5k) from this wedge then our target should be $26k
Let's wait for the breakout or breakdown then we will decide our next move.
What do you think about this?
Do you think we go to $35k from here or $26k?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
SHORT ON USOIL - BUT COULD BREAKOUT OF WEDGE AND BECOME LONGRising wedge on the higher timeframe, price is currently touching the resistance level of the wedge which is the best place to sell from once the bears show up.
If the bears do no show up I will be looking for a break and a rest of old resistance as new support then I will get in for a buy.
However I would prefer to sell UsOil as I would be selling high.
TOTAL CRYPTO MARKET BEAR WEDGE PLAYED OUT, H & S IN PLAYTOTAL 1 MARKETCAP
1ST target met which was a Rising Wedge pattern and a confirmed breakdown on the DTF and WTF.
I drew this pattern on my chart January 2022.
you can also see on the WTF it is losing the multiyear TRENDLINE SUPPORT, I would expect a bounce otherwise
2ND target 800B 2018 cycle HH.
3RD target Weekly Head & Shoulders 400-500B.
NOT FINANCIAL ADVICE.
GALAusdt will drop nowHello traders!
Gala has formed a strong sell pattern.
We can see a J shape pattern. Normally market fall after the first bearish candles but in some cases markets forms a rising wedge pattern at the peak and then drops.
In this case the rising wedge is already broken and i am expecting a dip in GALA.
If the market dips lower and breaks the 0.0720 then the market will retest it and will fall more.
BTC in Rising Wedge You've Been Warned!If we also consider the stochastic relative strength index on the 4-hour timeframe, we will probably fall into the lower band of the channel.
CADCHF rising wedge The price has formed a rising wedge. We expect the price to breakout below wedge and continue the bearish momentum. We are looking for a 38% of the Fibonacci retracement. After the price reached its target, move the s&l to the entry point.
Target: 0.7511
Entry: 0.7670
S&L: 0.7749
Monthly Bearish Divergence Breaking Demand LineWe have a Potential Double Top inside of a Rising Wedge Pattern on the Monthly with Bearish Divergence and very little support below us.
Bitcoin Might be Heading to $29,000This is a correction post from my previous post as Tradingview Ideas are uneditable & undeleteable after 15 minutes.
According to the price target of Head and Shoulders pattern in
Daily timeframe here, Bitcoin will inevitably hit $29,000.
There is also a rising wedge pattern that is forming right now.
Rising wedge is a bearish pattern. The broken bottom support
of the wedge will thus strengthening the idea of Bitcoin will soon
be taking a dip.
Please tighten your trailing stop if you're hodling.
Please also see my Weekly chart analysis.
$GMT RISING WEDGE (D)Another Rising Wedge pattern.
IMO i think if it break out of the wedge i will short and have a tight stop loss. With the BEAR MARKET i think GMT can go down but no clue high low. Rather risk a small loss to be able to capture a bigger move than sit on the sideline.... happened to me on WAVES at its peak so lets just see how it plays out
NON FINANCIAL ADVICE - journaling your trades
QoverQ
$ZIL SHORT (D) - RISING WEDGE #ZIL #CRYPTOPlease remember to factor in if the trade posted is a DayTrade (DT) or SwingTrade (ST). To eliminate any confusion, all of the Title's should include one or both DT / ST.
PLEASE REMEMBER TO NEVER FOMO IN!
I'm here to share my thoughts and also receive feedback so please leave a comment if you agree/ disagree/ or just wanted to talk about a different setup.
Thanks,
QoverQ
$ENS SHORT (DT) RISING WEDGE #ENS #CRYPTO Please remember to factor in if the trade posted is a DayTrade (DT) or SwingTrade (ST). To eliminate any confusion, all of the Title's should include one or both DT / ST.
PLEASE REMEMBER TO NEVER FOMO IN!
I'm here to share my thoughts and also receive feedback so please leave a comment if you agree/ disagree/ or just wanted to talk about a different setup.
Thanks,
QoverQ
USDT.D BREAK DOWN! BULLISH FOR BTC AND ALTS!!Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this USDT DOMINANCE update. USDT.D looks bearish here.
USDT Dominance is breaking down from the rising wedge-like structure. Looks like it is ready to fall from here.
As you know USDT Dominance is inversely proportional to the BTC. So if USDT.D falls so we can expect a rise in the price of BTC.
I'm expecting a good positive rally in the market for the next two weeks. BTC chart (Posted earlier) also indicates the same thing. If you did not read that update then check it out (Link given below).
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!
IBOVESPA's 2 Year Rising WedgeSince the Coronavirus Pandemic, IBOVESPA has been in a rising wedge pattern. There are key spots in the pattern. This ups the chances of IBOVESPA dumping, since the pattern has been there for so long, and it is still in action. We don’t know what will happen. The most probable thing is that it will dump. All we need to do is wait. BMFBOVESPA:IBOV
KNC/USDT : Breaking below the wedge, But still into channel!BINANCE:KNCUSDT
Hello everyone 😃
Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it!
$KNC has formed an ascending channel and it's currently moving into it,
On other hand, there was a formed rising wedge that got broken by recent candles.
This rejection has come with an opportunity for us to locate our Short toward the channel's lower!
If you're not interested in the market's bias yet; Then you can wait for the channel's rejection and locate your Short on a proper retest of the broken channel...
Be advised that if any rejection happens below channel; Then the main support are $4.35 and $3.55!
Hope you enjoyed the content I created, You can support us with your likes and comments!
Attention: this isn't financial advice we are just trying to help people with their vision.
Have a good day!
@Helical_Trades