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Wedge

GbpUsd- Where to sell?The GBP/USD currency pair has been in a downtrend for quite some time. Recently, however, after dropping just below the important psychological level of 1.25, the pair started to reverse and show some upward movement. While this rise is notable, it is important to recognize that it appears to be corrective in nature. The price is currently forming a rising wedge pattern, which typically signals that the uptrend may soon lose momentum. Based on this technical structure, I expect the downtrend to resume in the near future. In my opinion, any rallies above the 1.28 level should be viewed as potential selling opportunities. A stop loss placed above the 1.29 level would ensure a risk-to-reward ratio of 1:3 could be achieved if we target the recent low.
Short
by Mihai_Iacob
3
Learn Best Price Action Patterns For Trend-Following Trading In this educational articles, I will teach you the best price action patterns for Trend-Following Trading Forex. 📍Ascending & Descending Triangles The ascending triangle will be considered to be a trend-following pattern if the impulse leg preceding the formation of the pattern is bullish. The pattern consist of 2 main elements: a horizontal neckline based on the equal highs, a rising trend line based on the higher lows. ❗️The trigger is a bullish breakout of a neckline of the pattern and candle close above. 📈The position is opened on a retest. 🔴Stop loss is lying at least below the level of the last higher low. 🎯Take profit is the next historical resistance. Look at an ascending triangle formation on EURUSD on an hourly time frame. On the left, you can see the structure of the pattern and on the right, the trading plan. 📍The descending triangle will be considered to be a trend-following pattern if the impulse leg preceding the formation of the pattern is bearish. The pattern consist of 2 main elements: a horizontal neckline based on the equal lows, a falling trend line based on the lower highs. ❗️The trigger is a bearish breakout of a neckline of the pattern and candle close below. 📉The position is opened on a retest. 🔴Stop loss is lying at least above the level of the last lower high. 🎯Take profit is the next historical support. Above is a perfect descending triangle pattern that I spotted on GBPUSD on a 4H time frame. 📍Bullish & Bearish Wedges The bullish wedge pattern will be considered to be a trend-following pattern if the impulse leg preceding the formation of the pattern is bullish and the pattern is directed to the downside. The pattern consist of 2 contracting falling trend lines based on the lower lows and lower highs. ❗️The trigger is a bullish breakout of a resistance of the pattern and candle close above. 📈The position is opened on a retest. 🔴Stop loss is lying below the low of the pattern. 🎯Take profit is the high of the pattern. Above is a falling wedge pattern that I found on GBPUSD. The pattern is formed after a strong bullish impulse. A trigger to buy is a bullish breakout of its resistance. —————— The bearish wedge pattern will be considered to be a trend-following pattern if the impulse leg preceding the formation of the pattern is bearish and the pattern is directed to the upside. The pattern consist of 2 contracting rising trend lines based on the higher highs and higher lows. ❗️The trigger is a bearish breakout of a support of the pattern and candle close below. 📉The position is opened on a retest. 🔴Stop loss is lying above the high of the pattern. 🎯Take profit is the low of the pattern. To correctly sell this rising wedge pattern on EURUSD, we should wait for a breakout of its horizontal support and then sell the market on its retest. 📍Bullish & Bearish Flags The bullish flag pattern will be considered to be a trend-following pattern if the impulse leg preceding the formation of the pattern is bullish and the pattern is directed to the downside. The pattern consist of 2 parallel falling trend lines based on the lower lows and lower highs. ❗️The trigger is a bullish breakout of a resistance of the pattern and candle close above. 📈The position is opened on a retest. 🔴Stop loss is lying below the low of the pattern. 🎯Take profit is the high of the pattern. Above, you can see a perfect example of a bullish flag pattern on EURUSD on a 4H time frame and its trading strategy. —————— The bearish flag pattern will be considered to be a trend-following pattern if the impulse leg preceding the formation of the pattern is bearish and the pattern is directed to the upside. The pattern consist of 2 parallel rising trend lines based on the higher highs and higher lows. ❗️The trigger is a bearish breakout of a support of the pattern and candle close below. 📉The position is opened on a retest. 🔴Stop loss is lying above the high of the pattern. 🎯Take profit is the low of the pattern. Above is a bearish flag pattern on GBPUSD and a full plan to sell the market based on it. 📍Bullish & Bearish Symmetrical Triangles The bullish symmetrical triangle will be considered to be a trend-following pattern if the impulse leg preceding the formation of the pattern is bullish. The pattern consist of 2 contracting symmetrical trend lines based on the higher lows and lower highs. ❗️The trigger is a bullish breakout of a resistance of the pattern and candle close above. 📈The position is opened on a retest. 🔴Stop loss is lying at least below the last higher low of the pattern. 🎯Take profit is the high of the pattern. This bullish symmetrical triangle on EURUSD on an hourly time frame is a perfect example of a bullish trend-following pattern. —————— The bearish symmetrical triangle will be considered to be a trend-following pattern if the impulse leg preceding the formation of the pattern is bearish. The pattern consist of 2 contracting symmetrical trend lines based on the higher lows and lower highs. ❗️The trigger is a bearish breakout of a support of the pattern and candle close below. 📉The position is opened on a retest. 🔴Stop loss is lying at least above the last lower high of the pattern. 🎯Take profit is the low of the pattern. On the left chart, you can see a structure of a valid symmetrical triangle. On the right chart, you can see how to trade it properly. The main difficulty related to trading these patterns is their recognition. You should train your eyes to recognize them on a price chart. Once you learn to do that, I guarantee you that you will make tons of money trading them.
Education
by VasilyTrader
10
BINANCE COIN (BNBUSD): Bullish Movement Confirmed?! With a recent bearish movement, BNBUSD corrected to a recently broken key structure. I spotted 2 strong bullish confirmations after its test: the price violated a neckline of a double bottom pattern and a resistance line of a falling wedge pattern. Both breakouts indicate a highly probable resumption of a bullish trend. With a high probability, the market will continue growing and reach 756 level soon. ❤️Please, support my work with like, thank you!❤️
BINANCE:BNBUSDLong
by VasilyTrader
1
Bitcoin Cash About to Pull a Bitcoin?If BCH can break the diagonal and hold above it here, it will likely also break 1442, which would confirm a double bottom targeting 24.3k as its target for a single measured move, and could go a lot higher. Alternatively, if it fails to get above the diagonal, it may test 85 dollars yet again. The BHC / BTC pairing also looks like it has bottomed or is in the process of bottoming, which could lend fuel to the positive move if this is the case:
COINBASE:BCHUSD
by dudebruhwhoa
3
Chainlink / USD | Chart & Forecast SummaryKey Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # Chainlink / USD - Double Formation * Neckline Positioned At 12.81000 USD | Subdivision 1 * 012345 | 0&2 Wave Entry At 9.900000 USD - Triple Formation * Pennant Structure Uptrend Bias | Subdivision 2 * Retracement Area | Center Entry At 17.00000 USD | Subdivision 3 * 012345 | Wave 3, 4 & 5 | Target Set Up Active Sessions On Relevant Range & Elemented Probabilities; London(Upwards) - NYC(Downwards) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Buy
CAPITALCOM:LINKUSDLong
by TradePolitics
The last bullish chance of CARDANO in short term!The ADAUSDT has broken the wedge, which is a bearish sign in the short term. The price can correct down to the 0.618 Fibonacci level and then potentially shoot back up. Give me some energy !! ✨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!!
Long
by CobraVanguard
5
XRP Analysis==>>Correction Signs!!!XRP ( BINANCE:XRPUSDT ) is moving in the Resistance zone($2.63-$2.50) . In this post, I want to show you some signs that XRP may still need to be corrected in a one-hour time frame : 1 -Regarding Classical Technical Analysis , XRP seems to have succeeded in forming the Rising Wedge Pattern . 2 -The formation of the Evening Star Candlestick Pattern in the Resistance zone can signify the reverse of XRP . 3 -The formation of the Bearish Gartley Harmonic Pattern can also be another sign of the decline of XRP . 4 -According to Elliott wave theory , XRP seems to be completing the main wave 4 . I expect XRP to break the lower line of the Rising Wedge Pattern , which should drop to at least $2.38 . If the Support line is broken, the next target will be the Support zone($2.25-$2.17) . ⚠️Note: If XRP manages to break the Resistance zone($2.63-$2.50), we can expect an XRP pump.⚠️ XRP Analyze (XRPUSDT), 1-hour time frame⏰. 🔔Be sure to follow the updated ideas.🔔 Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
24
$BTC #Bitcoin Just Gonna Leave This Here (Hmmmm..Maybe?) 😝This is just adding onto my logarithmic regression-inversion theory and how I personally believe the $BTC price movements may specifically play out. The general theory is that the logarithmic regression of $BTC will invert at a certain point in the next 1-3 years, changing the price suppression $BTC has had for its whole life into exponential support. I personally believe this is very possible, with exponential adoption of #Bitcoin for things like sovereign wealth funds, countries' legal tender and possibly even a world reserve asset. If those things (plus other possible variables) occur then this is how I see that possibly playing out. Here is a detailed explanation of what I personally believe is happening/going to happen here. Phase 1: There would be a breakdown of price like we have now (possibly) completed. This would be in order to accomplish a few things for global institutions. Some of those things are: 1) Get Bitcoin out of the hands of the "common man". It would not be possible to acquire the amount of $BTC needed with so many people holding. 2) Cause liquidity issues for exchanges, making it more difficult for just anyone to purchase. (We have already seen this. ex: Voyager, Celsius, etc.) 3)Allow large accounts to be created at more feasible prices, while also providing a good (high) enough entry price to sustain value for the overall asset in the eyes of the public. (To keep people from losing interest) There are obviously more reasons, but that's another post. Phase 2: A relief rally back up to the median range. This will obviously be a very volatile range, as 50% of investors sell (expecting a sharp move downward) and others (possibly the central financial institutions and/or sovereign wealth funds, who will not initially disclose their acquisitions) accumulating within this range. Because of this volatility, the likely range it will be in, the immediate supports/resistances, and the typical movement of the $BTC price; My current prediction is that $BTC will move upward, after flipping the top of the recent range into support, and break above the main down-trend of a massive flag that $BTC has been forming for over a year. Then after a retest of that upper trend, price will attempt to break the new-found resistance as traders long from that trend line. Believing that this is the last upward movement, traders will then short the resistance level, and other holders may sell out of fear (or just simply because they will be at a break-even price, since a lot of volume was transacted in that range). This range will then prove to be the median range, previously mentioned. $BTC will then make a lower low, again at the upper trend of the flag. This will seem like a "bear-signal" but will actually be a second confirmation of support off of the upper-resistance trend of the flag, which will "fake-out" traders, causing a short squeeze. Then more traders will continue to short as others switch to a long stance. All of these movements will print an inverse-head-and-shoulders, the break-out of which will give $BTC price the momentum needed to make it back up to the $60K-$70K range. Phase 3: After making it back to the "all-time-high" range, there will undoubtedly be heavy volatility, as some call for a triple-top and others "FOMO" into #Bitcoin. This volatility, bouncing between the upper regression curve and the inversion curve, will begin to print a "rising-wedge" pattern. The break-out of this wedge will be the ultimate inversion of regression into exponential growth. This is all pure speculation, however it is based on both, strong fundamental data as well as technical data. I personally believe in this theory, and it could also play out in other ways, but this scenario seems to make the most sense to me at the moment. **This is my own opinion based on data observed. This is not financial advice.**
BITSTAMP:BTCUSDLong
by DoozerInvest