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Wedgebreakout

ETCBTC is inside a falling wedge 🦐$ETC.X if the price will have a breakout from the falling wedge and from daily resistance, 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.
Long
by InkyGrip
2
Weekly Bullish Divergence: One Final Chance for a USD Comeback!DXY showing some seller exhaustion here we are attempting another breakout of a wedge that we have been stuck in for about a year. We have some classic bullish divergence on both the RSI and MACD weekly. Along with the divergence we closed last week above the bottom trendline with a Bullish Pinbar which is a bullish candlestick reversal pattern commonly found near the end of downtrends. The looks to be the final stand for the US Dollar as if we don't bounce here we are likely in serious trouble and will see much lower prices. Based off the technical I expect us to see a sharp reversal to the upside and suspect that USD will perform well on USD Pairs and that stocks will do badly in the comings days and weeks.
TVC:DXYLong
by RizeSenpai
Dollar Index is perking up at historical congestion/support areaCurrently at an area where price congested and broke higher to start a 23-month bull run in 2018-19. LTF is showing a possible bottom with the formation of a higher high and a breakout from this descending wedge pattern. Likely to see some kind of trading range before any decisive bullish breakout/reversal but today's candle is pretty bullish and the bulls would be looking to close the day strong. Context is okay for reversal here so we shall see. A bearish break below 89 invalidates this view. Weekly chart:
TVC:DXY
by thedailychartist
1
CVCUSDT is trying to breakout from the weekly resistance 🦐CVCUSDT is trying to breakout from the weekly resistance after had a nice breakout from the falling wedge. The price could test 0.382 Fibonacci retracement of Weekly impulse, retest weekly support, and restart with a new bullish impulse. According to Plancton's strategy, 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.
Long
by InkyGrip
DREPBTC is creating a falling wedge 🦐IF $DREP.X will have a breakout and turn daily resistance into new support, 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.
DLong
by InkyGrip
14
EDUCATION: Rising Wedge PatternHello, dear subscribers! Today we will continue to consider the chart pattern. The risisng wedge is the topic of this article. We can see the rising narrowing wedge formation when the scatter of highs and lows is decreasing during the time and price make higher highs and higher lows. There are clear support and resistance lines which have different angles of slope as you can see on the chart The rising narrowing wedge is usually described as the bearish pattern but in practice it is not always true. In fact the direction of the breakout is the most important evidence for the price movement prediction. In this example we can see the break through the resistance line and the massive price pump. The breakout can be fake, in that case the price returns back to the wedge. If it is true breakout the price can make an attempt to return back but there is a rejection as you can notice in our example. DISCLAMER: Information is provided only for the educational purposes and should not be used to take action in the markets.
Education
by Skyrexio
Possibly a rising wedge for GLXY?Regardless of the type (reversal or continuation), rising wedges are typically bearish patterns, even if only temporarily. Bearish confirmation of the pattern does not come until the support line is broken in a convincing fashion. Once support is broken, there can sometimes be a reaction rally to test the newfound resistance level. Ideally, the volume will decline as the price rises & the wedge evolves, however, the volume has seen an increase & currently GLXY is breaking the blue sloping resistance of the wedge pattern to the upside! That's the Bitcoin effect lol? On the KST there may be a bullish cross about to happen in the near term, a few more trading days will provide a better indication of which way the trend is heading. The RSI is displaying higher lows & higher highs since early December. The DPO is at an all-time high currently, if there's any pullback it would be ideal if the blue line held as support before continuing upward, and if not it'll likely act as resistance & the trend may be reversing, only time will tell.
TSX:GLXY
by ScotianBot
1
Silver Retest Successful! Upward Targets in Sight!Silver was a trade executed on the daily chart. I will cover the set up in just a sec. I want to point your attention to this 4 hour chart. Price broke out of resistance, and then pulled back to retest it as support. Buyers stepped in heavily when futures opened. Why is this zone important? The Daily chart broke out of a trendline/wedges, and broke above our major resistance zone. On the 4 hour, the retest was successful. I personally entered a small position on the trend/wedge break, and then added my full position on the resistance break. First target is the 28 dollar zone. Longer term, my followers know my take on Gold, Silver and cryptos. Been warning of a confidence crisis and currency crisis since way before Covid. Central banks are trying to weaken their currencies, which means the middle class loses. A move out of fiat is a way to protect one's purchasing power, and why one must be in these assets. This is a trade set up, but in the long term, I believe Silver moves much higher.
OANDA:XAGUSDLong
by Uncharted-FX
5