Get started

Wedgebreakout

Sell GBPUSD CPI DataThe GBP/USD pair on the M30 timeframe presents a potential shorting opportunity due to a recent breakout from a wedge pattern. Possible Short Trade : Entry: Consider entering a short position (selling GBP/USD) below the broken support trendline of the wedge after confirmation. Ideally, this would be around 1.2720 or lower if the price continues to decline. Target Levels: 1.2678: This target is achieved by measuring the height of the wedge (from its apex to the breakout point) and projecting it downwards from the breakout point. 1.2650: This is a further extension of the downside target, based on the height of the recent price movement before the breakout. Stop-Loss: Once the entry point is confirmed, place a stop-loss order above the broken support line of the wedge, ideally with some buffer around 1.2730. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_FOREX_TRADING
LCID rises from falling wedge on news from its rich uncleLCID got news that its rich uncle the Saudi Arabia Wealth Fund will be assisting in the manufacturing of large body parts moving forward (perhaps on the methodology of TSLA to just massive molds to efficiently do so and at a far lower cost). Shares pumped today on the news. Is it sustainable? Is there still time to buy a piece of the move? On the 120-minute chart, LCID was in a falling wedge or narrowing regression channel and broke out also on a day when other EV stocks made good moves. The MACD indicator as well as the dual TF RSI indicator in confirmation both show bullish momentum. The algo echo indicator ( by LuxAlgo) which looks back in time to find matching price action patterns and then predicts the near future move, shows a predicted move to 4.05. This is confluent with the POC line of the volume profile anchored back to November. From November 14 to December 6, price was range bound in consolidation around the 4.05 level. My call options for 2/16 @ $3.5 did 140% today unrealized. I will add $4.00 for 2/9 expiration and watch for the anticipated and predicted continuation.
NASDAQ:LCIDLong
by AwesomeAvani
3
Buy EURAUD Channel Breakout The EUR/AUD pair on the M30 timeframe presents a potential buying opportunity due to a recent upward breakout from a well-defined bullish channel pattern. This breakout suggests a shift in momentum towards the upside and a higher likelihood of further gains in the coming hours. Key Points: Buy Entry: Consider entering a long position (buying) above the broken resistance level of the channel, ideally around 1.6300 after confirmation of the breakout. This offers an entry point close to the perceived shift in momentum. Target Levels: Initial bullish targets lie at the previous resistance levels within the channel, now acting as potential support zones: 1.6402: This represents the first level of resistance within the channel. 1.6456: This is a further extension of the upside target, based on the height of the recent price movement before the breakout. Stop-Loss: To manage risk, place a stop-loss order below the broken resistance line of the channel, ideally around 1.6290. This helps limit potential losses if the price unexpectedly reverses and breaks back downwards. Thank you
Long
by KABHI_FOREX_TRADING
17
Sell GBPJPY CPI DataThe GBP/JPY pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined bearish wedge pattern. This suggests a potential acceleration of the downtrend and a higher likelihood of further declines in the coming hours. Key Points: Sell Entry: Consider entering a short position (selling) below the broken support line of the wedge, ideally around 192.80. This offers an entry point close to the perceived shift in momentum. Target Levels: Initial bearish targets lie at the following points: 190.72: This represents the height of the wedge, measured from the wedge's peak to the breakout point, projected downwards from the breakout. 190.20: This is a further extension of the downside target, based on the height of the recent price movement before the breakout. Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the wedge, ideally around 193.00. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_FOREX_TRADING
9
TLT- Are rate cuts postponed? LONGTLT has been in a broadening wedge and formed a falling wedge within the larger pattern. Price bounced off the lower supoort trendline in the mid-morning of trading then rising to break out of the falling wedge. I see this as an opportunity to take a long trade in TLT and close out a TBT position at the same time. This reversal may be due to the value of existing bonds with the implications of a rate cut postponed beyond June. The faster RSI line has recovered to cross the 50 level lending further support to this long trade.
NASDAQ:TLTLong
by AwesomeAvani
Sell NZDCHF Rising WedgeThe NZD/CHF pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a rising wedge pattern. This pattern, despite an initial upward angle, is often seen as a bearish reversal signal. Key Points: Rising Wedge Breakout: The price has been trading within a rising wedge pattern characterized by converging upward trendlines. While the initial trend appears bullish due to the rising trendlines, this pattern can often be a bearish reversal signal. The recent break below the lower trendline signifies a potential confirmation of a downtrend continuation. Sell Entry: Consider entering a short position around the current price of 0.5425, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: The initial bearish target lies at 0.5390, which represents the support level before the wedge formation. Further downside targets could be determined using other technical analysis methods like Fibonacci retracements or extensions. Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the wedge, ideally around 0.5445. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you
Short
by KABHI_FOREX_TRADING
1
MOVRUSDT - The end of the correction wave ? Falling Wedge The price is at the bottom of the corrective pattern (Falling Wedge) The price hit 0.61 Fibonacci retracement level and was rejected! We put the StopLoss in the invalidity of this analysis If it continues to grow, the profit will more than triple Trading Setup: There is a Trading Signal to Buy in MOVRUSDT Moonriver (Daily) (Spot) Traders can open their Buy Trades NOW ⬆️Buy now or Buy on 16.0 ⭕️SL @ 9.2 (-57%) 🔵TP1 @ 41.7 (+95%) 🔵TP2 @ 58.4 (+175%) 🔵TP3 @ 82.7 (+285%) What are these signals based on? Classical Technical Analysis Price Action Candlesticks Fibonacci Retracemen Fibonacci Extension levels RSI, Moving Average , Ichimoku , Bollinger Bands Risk Warning Trading Forex, CFDs, Crypto, Futures, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. If you liked our ideas, please support us with your likes 👍 and comments .
Long
by pullbacksignal
4