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Wedge

POPCAT → Bearish Pressure !!!As you can see, a Bearish wedge has formed on the daily timeframe, which means it is time for a price correction , every uptrend has to be corrected, that's the nature of the market. ✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us. Best regards CobraVanguard.💚 _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Short
by CobraVanguard
2
The real value of gold is not this!!Gold is currently in a descending wedge and has completed its five upward waves, all indicating a bearish price trend. What further confirms this bearish outlook is the bearish divergence in the MACD. If the signal is followed, we will see a price drop. but Do current tensions in the Middle East allow for it ? ✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us. Best regards CobraVanguard .💚 _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
FOREXCOM:XAUUSDShort
by CobraVanguard
2
EURGBP → Attempting to break through the resistance.FX:EURGBP is breaking wedge resistance and consolidation resistance after prolonged consolidation. The reason is the change of the local euro rate. If the bulls are able to keep the defense above 0.8346, then in perspective the currency pair will be able to move into the realization phase, which will allow the price to reach 0.838 - 0.842. The fundamental background for both countries is similar. The general course of interest rates reduction and dependence on the growing dollar. But the local sentiment allows pointing to a more positive mood among those willing to buy EUR. Resistance levels: 0.8346, 0.8384, 0.842 Support levels: 0.8316 The price is in the risk zone, where there is a struggle between the participants. The focus is on the buyer. If he can consolidate his positions above the previously broken wedge resistance, then above the consolidation resistance at 0.8346, it will be the beginning of realization. Regards R. Linda!
Long
by RLinda
5
EUR/USD: The Big Short??As we can see, Eur evolved in a huge raising wedge since 1985. This wedge has been broken in 2015 (blue rectangle). The price even did a PERFECT pullback (blue square), suggesting the power of the trend. The target of that wedge is 0.55$. On top of this, we can see that the SSB rejected the price EVERYTIME since 2014 (red circles). The October candle has already been rejected (eventhough confirmation will be actual on October, 31st). Alltogether, these analysis seem forecast a huge dump to come for EUR vs USD in the coming years, up to 50% decrease.
Short
by The_Crypty_Fox
USD/CHF looks heavy despite relentless USD strength The Swiss franc has held up remarkably well this week despite some of the G10 FX moves against the USD. Sitting in a rising wedge, it was rejected at uptrend resistance on Wednesday, deliver an inverse candle on the daily. The price now finds itself resting on uptrend support and looks heavy. RSI (14) has diverged from price but the bearish signal on momentum has yet to be confirmed by MACD, although the latter also looks toppy. One short setup would be to sell now or on a break of the uptrend with a stop above Wednesday’s high for protection against reversal. The initial target would be .8617 although, to make the risk-reward stack up, it would be preferable to target the 50-day moving average. Good luck! DS
Short
by FOREXcom
Bitcoin - All time high this week! (wedge is breaking out)Comment your altcoin, and I will make a technical analysis for you in response to your comment! Bitcoin is breaking out of the rising wedge pattern and will most likely hit a new all-time high until the end of this week or October! We can also see that a major bullish flag on the weekly chart is breaking out as well, so this is considered a double breakout. I have 3 short-term profit targets: 70,079 is the first major swing high of the major bullish flag. 73,777 is the previous all-time high level, and 78,438 is a very significant resistance because it's the 1.618 FIB extension. From the Elliott Wave perspective, this is extremely bullish as well. The combination of waves 1-2-1-2 creates an Elliott Wave bullish nest. That means we are currently in wave 3 of wave 3, and you probably know that wave 3 is usually the strongest of all of them. We can finally expect increased volatility! Write a comment, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss. I share my trades privately. Thank you, and I wish you successful trades!
Long
by Xanrox
140
Bitcoin: The Final Move Before a Crash to $3000It seems that Bitcoin has started forming an ending diagonal, which serves as the final impulsive waves in Elliott Wave Theory but has a corrective 3-3-3-3-3 structure, also known as a rising wedge. This wave will likely mark the end of a cycle pattern that began with Bitcoin’s inception, correcting all the growth achieved so far. A correction of this magnitude has no strict limit, but it will likely end at the lower-degree fourth wave, around $3000 per Bitcoin. This is also where the power line lies according to the volume profile. This scenario will gain more weight if, in the coming days, instead of heading to new highs, we drop below $66,500 again. In that case, I expect a correction to the $59-60K range, followed by the last upward three-wave move toward $80K. From there, at the first signs of a reversal, I believe it will be prudent to focus exclusively on short positions, targeting extremely low levels below $10,000 per Bitcoin.
Short
by myteam
55
Uptrend in Play or Drop Incoming? Key Price Zones!OANDA:GBPJPY Current Price: 195.150 Chart Timeframe: 1-Hour Bullish Outlook: The price tested the Ascending Channel’s lower trendline as support and is now heading toward the 196.049 target. Minor resistance at 195.714 may cause a pullback to 195.339 before the price resumes its move toward the 196.049 target. Alternatively, if the price breaks below the channel’s lower trendline, it could lead to a decline towards 193.708. Resistance Levels: • 195.714 (Minor resistance) • 196.049 (Primary target) Support Levels: • 195.339 (Expected pullback level) • Lower trendline of the Ascending Channel (Current support) • 193.708 (If the price breaks below the channel) Happy Trading!
Long
by SpicyPips
DJI- Correction to 40k zone?Since mid-September, the Dow Jones Industrial Average ( TVC:DJI ) has resumed its upward trend, reaching new all-time highs. This recent rally reflects investor optimism and strong market momentum. However, despite this bullish movement, the rise appears to be contained within a rising wedge pattern, which can often indicate a potential reversal or the weakening of an uptrend. For traders and investors, a key confirmation of this potential correction would be a decisive drop below the 42,500-42,700 support zone. If the Dow30 breaks below this critical level, it could trigger a larger sell-off, possibly pushing the index down toward the 40,000 level—a significant psychological and technical support zone. While it’s still too early to confirm whether this correction will take place, it’s important to keep an eye on the price action around the 42,500-42,700 range. If the index fails to hold this zone, it could mark the end of the recent uptrend and the start of a broader market pullback. In summary, while the Dow30 has been reaching new heights, caution is warranted due to the rising wedge pattern and key support levels. If these signals confirm a correction, we may see the index retracing toward 40,000 in the near future.
TVC:DJI
by Mihai_Iacob
2
NZDJPY → Pre-breakdown consolidation. Preparing for a rallyFX:NZDJPY is forming consolidation near resistance after retest and false breakdown. On the back of JPY decline, NZD may show upside... There is no proper price reaction to range resistance. Consolidation in the format of a descending wedge, a rather strong pattern capable of forming strong movements, is being formed. The Japanese national currency continues to update lows amid the calm of the central bank of Japan, which is waiting for something because of the rally in the dollar, as well as economic data from the United States. Any strong comments could restart the rally in the JPY, so the risk of a shakeout is quite high. But at the moment the chart is hinting at a possible upside... Resistance levels: 91.362, 91968 Support levels: 90.056 The price stops moving away from the wedge resistance at some point, forming a 12-16 hour consolidation. Most likely there will be a breakout attempt. If the bulls keep the defense above 91.0, we can catch a good upward rally in the mid term Rate, share your opinion and questions, let's discuss what's going on with ★ FX:NZDJPY ;) Regards R. Linda!
Long
by RLinda
7
10/20/2024 BTCUSDT bitcoin chart Elliot wave idea . Starting today, I will post my views on the Bitcoin chart. I will provide stop-loss levels with target profit and I will also enter positions myself. Afterward, I will review whether the analysis was correct or not. This year, Bitcoin has made a significant impulse wave upwards, reaching near 73,000, and is now undergoing a correction for a while. It seems we are in an big ABC downward correction, followed by a WXY complex correction as it goes up again. 1. I believe we are seeing a double three combination correction forming in a wedge pattern. 2. It seems that the 5-wave impulse wave has completed at the end of this complex correction in a "wedge form". Since the stop-loss level is short, it seems like a good entry opportunity. Setting the stop-loss at 69,500 and aiming for a take-profit at around 66,300 would offer a very favorable risk-reward ratio. One thing to be cautious about, though the possibility seems low, is that if the price breaks through 70,000, there could be a massive upward movement. Please be careful when trading. I will return next time to review whether the analysis was correct. Thank you :)
Short
by hcinteractivegames
2
Euro will make move down and then rebound up from wedgeHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price declined to mirror line and then started to grow. In a short time, the price broke the 1.1000 level, made a correction to the resistance area, and then continued to move up to the seller zone. When it reached this area, the price soon turned around and dropped to the mirror line. Euro some time traded near this line and then fell to the 1.1000 level, breaking the mirror line. Also then, the price started to trades inside the wedge, where it first rose between the mirror line to the seller zone again. When the Euro reached this area, it turned around and made a downward impulse, thereby breaking 1.1175 and 1.1000 levels, after which made retest and continued to fall to the support line of the wedge. At the moment, the price trades very close to the resistance line of the wedge, so, for this case, I think that the Euro can little decline and then rebound up, thereby exiting from the wedge. For this case, I set my TP at 1.095 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
4
Palladium 50% move up break out of wedge and over 200 EMABullish case, price sitting over 200 EMA and broken out of the wedge it was in If the reported shortages in the supply are true as demand is higher than current worldwide production then its positive for the price Price does not need to stop it could go back to ATH and over if supply cannot meet demand for over 200% gains which might be a short squeeze and get there quickly. Bearish case price will move back into extending the wedge pattern and for further consolidation
TVC:PALLADIUMLong
by William_Playfair
Weekly BTC UpdateDate: October 19, 2024 Bitcoin has maintained relative strength above 65,000 USD, but has been unable to decisively break above the 70,000 USD psychological resistance. The market is clearly respecting liquidity pockets and major order flow zones, which continue to play a pivotal role in the market's direction. Resistance: - 69,000 USD and 70,000 USD (40% of Order flow) - significant short-side liquidity will be collected if those levels get broken down Support: - 65,000 USD (Local support) and 62,500 USD (Strong Support): Elliot Waves: - According to EW theory there shall be finishing of Wave 1-5 cycle Strategy Outlook - Bullish Scenario: A strong move above 70,000 USD could trigger a rapid push toward 74,592 USD, especially with the order flow concentration there. A break above this could lead to new highs, with minimal resistance above. - Bearish Scenario: Failure to break 69,950 USD could lead to a rejection and a correction back to the 65,000 USD support, especially if the A-B-C correction plays out. Breaking 62,500 USD would signal deeper weakness and likely invite more selling pressure.
BITSTAMP:BTCUSDLong
by fondOrange28771