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Wedgebreakout

ETHBTC is creating a descending wedge 🦐ETHBTC is creating a descending wedge on daily support. We need the next breakout to understand the price's strength. According to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
by InkyGrip
8
XAGUSD Break of StructureThis is my first time marking up a silver chart but these trendlines were visible to me straight away. Super clear trendlines, as well as clear support and resistance levels, visible from the daily timeframe. I believe that price may very well rally upwards once it breaks the top trendline. Price actually tested and respected the bottom trendline today which is a positive sign for my bias. I'll be looking for price to break and stay above level 28.29624 for extra confirmation. Updates to follow, follow me to see them.
OANDA:XAGUSDLong
by darbova
2
Looking to short crude oilI am not sure which way oil will be going. What I do see is a good profit goal if oil sells off or pullback a bit. Oil is nearing upper black trendline. This is also the top of an parallel channel. This also means we are close to overbought. You can see my entry for a short by looking at red arrows. You can see a nice profit goal here and if it break under the rising wedge then we have an even more profit. I wouldn’t enter long except where gray up arrow starts above resistance at price high. And if oil is to go up it first needs to consolidate to cool off for next leg up. So really I am only looking right now to enter short on oil if it hits my sell trigger. Comments welcome. Thumbs up is extra welcome! ❤️ Miss Bunny
NYMEX:CL1!Short
by UnknownUnicorn11430563
3
BTC wedge break, will support hold?BTC looks to have just broken wedge support that many have been speaking of recently. I think the question for many now is "is it in fact a bearish pennant and is a crash imminent". If a crash were to occur and the price stays in the descending channel (orange lines on the logarithmic chart), there is indeed quite a bit of downward potential to near 16-20K, so there is understandable concern. However, if this indeed is a pennant, it is rather surprising that a) it didn't break downward until the apex of the triangle, and b) that it did not "flash crash" and that I have even been able to write this post hours after the breakout of the wedge. It is additionally interesting to see many altcoins still staying healthily in positions against BTC, but we shall see how long that may be the case I suppose. A key point of interest looks to be the key support for the logarithmic trend line (yellow dashed line) that looks like it may be key support shortly. If this breaks and stays broken below 32K, then I plan on keeping a close watch on the descending channel. However, if a support continues, it will be interesting if it can continue for the next week to break out of the channel (around June 13th or so). Either way, it looks like some of the boring action might coming to a halt as all eyes start to eye BTC once again. And of course, this is only my opinion and in no way is meant as financial advice. But please like or comment if you agree or see anything differently or in addition to these thoughts.
COINBASE:BTCUSD
by crypto_trends
4
Wedge Breakout with S/R flip and Fibonacci confluence The wedge has finally broken out and has created a retest and seems to be coming down crushing, hopefully it keeps going down. The support which was broken yesterday has now turned to a resistance and price bounced off the 50% Fibonacci level. The traders dynamic index has also provided extra confluence with the the green line going below the yellow market baseline. I can finally say all my conditions for this trade are met. Fingers crossed its a win.
Short
by Elvis_ben
4
BTC wedge moment of truth coming up soon!A critical moment is approaching for BTC over the next few hours as the price approaches the top of a wedge (bearish pennant?) which I mentioned a few days ago (white lines). A slight peak out of the wedge has occurred over the past few hours indicating a potential to break upward which can be seen as supported by a daily MACD cross (not shown). There is still quite a bit more time needed for validation, but if such a breakout occurs, this could propel the price to near the recent Fibonacci targets from 47-52K. However, there is also likely a possibility of a continuation downward supported by MACD divergence (white line on MACD) as well as indicated by dwindling volume over the past few days. It looks like the next few hours will be the crucial to watch which way the trend heads and what we might expect over the next few days whether that be a break out upward or a bounce downward. And of course, this is not meant as financial advice and is only my opinion, but please like or comment if you agree or have any thoughts.
COINBASE:BTCUSD
by crypto_trends
2
CADCHF Set to Break Out Into a New Uptrend The CADCHF is currently finishing a Descending Wedge, which typically serves as a trend continuation pattern. A decisive breakout above its upper boundary would entail the likely continuation of the uptrend. Before this happens, however, the price action is likely to fall to 0.73900 one more time, which would allow bulls to enter long at the resulting dip. Afterwards, the CADCHF could climb as high as the psychological resistance level at 0.75000. That is, if the price action manages to penetrate above the 23.6 and 38.2 per cent Fibonacci retracement levels.
Long
by Trendsharks
USDCAD (Bounce before the breakout)USDCAD has been trending downwards for 7 consecutive weeks now. If we look in the monthly chart the downward momentum is now slowing down. But a break in the 1.20000 price level will drag the prices down to 1.19000. My bias for this week's movement will be a consolidation in 1.20300 to 1.20900 before breaking out in the wedge pattern next month (June) as we can see in the chart above. There is also a good risk reward ratio if we have a bounce play in this area. My bounce play as follow: Buy entry: 1.20470 Stop : 1.20250 TP : 1.20900 Trade at your own risk. Risk is the only guaranteed thing in the forex market. Always manage your risk. Give a thumbs up if you like my idea or give a comment if you have any thoughts you would like to share.
Long
by ginfrix
2
GBP/NZD Potential Upward Movement 🚀 Technical Analysis: The price was trending to the upside before posting a correction count. This correction is made by a wedge formation that coincides with a strong support around the 1.9660 USD mark. This could lead to a rally toward our designated target profit. ------------------------------------------------------------------------------------- Trade Idea: Buy Market Order @ 1.9668 Take Profit @ 1.9749 Stop Loss @ 1.9630 Trade Safely 🙂
Long
by Forex-Robot-Nation
$LTC.X, #Litecoin pushes higher?A quick look at Litecoin (LTCUSDT, 4HR, Binance): Signs of recovery after the big fall of last weekend. Price broke the wedge's trendline acting as resistance. If LTC price confirms the breakout we could open a long position. If it's a fakeout, price could find support in the $270-$255 range. If you want to read more about Litecoin on CoinMarketCap, click here . What do you think? Still learning here, so any constructive feedback and positive vibes to improve my analysis are welcome. But if you enjoy my chart, please like, comment or follow me. :) Thank you and Happy trading! ------------------------------------------------------ Some of my charts represent actual trades, and some are just paper trading. Needless to say, this is not financial advice!
Long
by BitfulMind