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Wedgebreakout

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
BTCUSDT - Bitcoin replicates bullish fractalsBitcoin price has tested $42 000 support level recently. There was panic in public chats and people claimed bearish market started. However few hours later BTCUSDT bounced back and the most important is the fact that the bounce happened with low trading volume, hence very few market players were selling at these levels. Such behavior can be a signal of accumulation phase beginning April 25th Fractal: Taking a closer look at Bitcoin's price action on April 25th we can see a similar picture to current chart. There was falling wedge with formed central accumulation range. The wedge bottom was retested twice and further bounces happened with small trading volume just as now. There was also replication of RSI oversold fractal around bounce area which also happens now at long term time frame charts February 28th Fractal: The same price action as before: RSI is at oversold edge, the price is at the bottom of the wedge while trading volume is low Bitcoin bounces and breaking the pattern upward. Conclusion: The most probable scenario: we have the same fractal as on February 28th and April 25th. Before these accumulation and distribution phases were connected with too low option contracts strike price. This month we can link the fractal to Musk's Twitter activity. Although there is high probability of sharp decrease to the cyan falling wedge in case current breakthrough attempt fails. We think Bitcoin should go back to $50 000 - $51 000 range within next few days. Current period is also great for altcoins recovering DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Long
by Skyrexio
2
OGN/USDT : Breakout from falling wedgeBINANCE:OGNUSDT Hello everyone 😃 OGN is breaking out the falling wedge. There is one more 6H candle needed for OGN to hold above wedge; After a retest, It can reach higher levels in mid-term. However BTC is not showing fine now, But it is possible to have pullback from wedge's higher line. So generally it's bullish and but for farther confirmations, We can wait for a cross on 6H trend bullish line. Also on BTC's pair; It's now pulled back from daily demand zone, Currently it's facing a bullish order block which is now acted as a resistance ! We may see a retest on lower level into demand zone and the a continuation to higher levels on this chart. 🔴 BTC has reached it's broken bullish trendline and some of the asks are forming a sell wall around ~58K. So be careful of any rejection below $55850. Hope you enjoyed our analysis about OGN's possible growth🙌 You can support us with your likes. Also you can share your opinion with us in comments 😉🙋🏼‍♂️ Attention: this isn't financial advice we are just trying to help people on their own vision. Have a good day! @Helical_Trades
Long
by Helical_Trades
22