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Wedgepatterns

USDJPY Showing a WedgeHey traders, USD is trading higher across the board based on hawkish FED, after good US NFP figures last week. The next key event to watch is going to be tomorrow when we will get the US CPI data. This will be an important event for traders' decision to see if inflation is slowing down or will FED have to be even more aggressive. If suddenly CPU numbers will really come down, then we think US yields will drop as 10-year US notes can break above the horizontal resistance. And this can then be a trigger for a drop on USDJPY. In fact, from an Elliott Wave perspective, we see an ending diagonal which is known as a reversal pattern. Usually you will see a strong reversal in a trend when the ending diagonal is finished. But when it's that? Well, when lower trendline support and wave (4) swing supports are broken. For now that's not the case, so it's deffinitely too soon for any "reversal" to be confirmed, but it's good to have it in mind while pair trades below 140.40. That's an invalidation level as wave three must not be the shortest. Trade well, Grega
by ew-forecast
2
Swing Trading Setup For The DAX 30 – Falling Wedge PatternHi Traders, Having a look at the DAX30 on the Daily. We see a potential falling wedge with accompanied divergence across the MACD. I would like to see a break and retest of this pattern before jumping in. This is the daily time frame so this would be quite a long swing position. It's all about patience haha. Let's see how it plays out. My target would be previous daily resistance. Enjoy your Monday! The Vortex Trader
OANDA:DE30EURLong
by TheVortexTrader
What Does a Falling Wedge & Roblox Have in Common?What Does a Falling Wedge & Roblox Have in Common? I've played Roblox once and from what I remember, players build things up and tear things down. In line with the objective of the Roblox game, the falling wedge pattern falls prior to the price rising (or "building") again. The Falling Wedge pattern was identified on RBLX weekly, daily, four hour and one hour charts. My intention is to make the most of this trade by entering a swing position. Therefore, my initial entry will be above the break of the upper trendline or 37.00. I am considering the following profit targets or profit taking levels- PT1 53 PT2 61.91 PT3 109.81 Special note -I will also consider pivot points for PT as well. *Risk Management- will include setting my stop loss below the low of the candle that breaks the upper trendline AND above 37.00. My starter position size will be relatively small to mitigate risks associated with entering a swing position. 80% of my position will be cut at PT1, 10-20% at PT2 (will be dependent on market conditions & price action of stock) and 10% or re-entry prior to reaching PT3 (will dependent on position status and price action). Peace & Prosperity, MrALtrades00 *This is not financial advice.
NYSE:RBLXLong
by MrALtrades00
USDCHF I Approaching Demand Buy Zone!Welcome back! Here's an analysis of this pair! **USDCHF - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Long
by BKTradingAcademy
5