Get started

Rising Wedge

SPX 500 Analysis(Rising Wedge Pattern)!SPX 500 Analysis on Weekly Timeframe! Rising Wedge Pattern in SPX500 Rising Wedge Pattern Formation after a Strong Downtrend SPX500 was in downtrend before now we are seeing a temporary uptrend but if we observe carefully it is an unstructured uptrend, for trend reversal it has to break 4323.56 level. Now SPX500 has formed a Rising Wedge Pattern. This pattern formation happened after a long down move. Now SPX500 is taking a pause and trading inside a wedge. If SPX500 able to break Support Trendline then the Primary trend will continue which is a Downtrend. I have done all important Analysis on the chart. I hope this will help you to forecast the further direction of SPX500.
SP:SPX
by Avinash9087
Great Bear Flag Will Soon Break"The Bull Market is back!" Say the TV talking heads. But in spite of the tech runup, small caps remain stagnant and 40% of stonks still trade below their 200 DMA. So, the 'bullishness' is limited to the glamour go-go issues. NVDA, MSFT, AAPL, MSFT, AMZN, GOOG META... etc etc all go higher, while the rest languish. That ain't a bull market, it's a Bear Market Rally. And now we go VIX squeezed back down under 16, the flag is nearly unfurled imo. P/C and bear sentiment crushed to lows not seen since Jan 2022. Everyone thinks it's going higher, that's when it rolls over. Double-double top; beware of drop. Y2K meltdown took two years. This one probly be about the same. When you think it's over, think again. Bear ain't over until all hope is lost and greed crushed. Get ready.
TVC:SPXShort
by DaddySawbucks
61
📈How to Trade: Rising Wedge Pattern📌 What is the Rising Wedge Pattern? The rising wedge is a bearish chart pattern found at the end of an upward trend in financial markets. It suggests a potential reversal in the trend. It is the opposite of the bullish falling wedge pattern that occurs at the end of a downtrend. Traders recognize the rising wedge as a consolidation phase after a medium to long-term trend, indicating a decrease in momentum. Traders often use this pattern as a signal to take a short-selling position or exit their current position. 📊 How to Identify and Use the Rising Wedge 🔹 Identify an existing trend in a currency pair. 🔹 Draw support and resistance trend lines along with the highs and lows of the trend. 🔹 Wait for price consolidation and the contraction of the support and resistance lines, forming a rising wedge pattern. 🔹 Observe the upper trend line acting as resistance and the lower trend line acting as support, converging towards each other. 🔹 Place a sell order once the price breaks below the support line of the rising wedge pattern. 🔹 Set a stop-loss order at the same level as the support trend line to manage risk in case the price reverses. 🔹 Consider setting a profit target based on the distance between the highest and lowest points of the wedge pattern or by using a technical indicator or a previous support level as a reference. 💥 Key Takeaways: 🔸 The rising wedge is a technical chart pattern used to identify possible trend reversals. 🔸 The pattern appears as an upward-sloping price chart featuring two converging trendlines. 🔸 It is usually accompanied by decreasing trading volume. 🔸 A rising wedge is often considered a bearish chart pattern that indicates a potential breakout to the downside. 🔸 Wedges can either form in the rising or falling direction. 👤 @QuantVue 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
6
EURUSD ---> rising wedge and a break down possibilityHello everyone, I would like to share my analysis on a chart that depicts a completed rising wedge pattern. The rising wedge is a bearish pattern that often signifies a reversal of the current trend. The pattern is formed by drawing trend lines that converge as the price consolidates within a triangle-like shape. Based on my observation of the current chart, I believe that the price will continue to compress until it reaches the pink area, which represents the liquidity pool. Furthermore, it's worth noting that there have been a lot of stop-loss orders gathered, indicating a potential downward movement. This can be attributed to the fact that traders often set stop-loss orders at key technical levels to minimize their losses in case the trade goes against them. To support my analysis, I have also identified an RSI divergence, which is a technical indicator that measures the strength of a price trend. The RSI divergence suggests that the momentum of the price is slowing down, which supports the possibility of a downward movement. However, it's important to remain vigilant and prepared for a potential break of the bottom line of the rising wedge pattern, which could lead to a different outcome. If the price breaks the bottom line of the pattern, it could signify a continuation of the previous uptrend. I have indicated the target for this short position on the chart, based on my analysis of the historical data. If you're interested in further analysis, I recommend taking a closer look at the historical data that I have included as examples. Thank you for your attention, and I hope that this analysis provides you with useful insights into the current market situation. ________________________________________ always do your research. If you have any questions, you can write them in the comments below, and I will answer them. And please don't forget to support this idea with your likes and comment
by melikatrader94
25
Down to 5.5 and Lower or Back to ATH at 19.4Scenario A: - Confirmed Head/Shoulders top, successful re-test and then down to 5.5% - Likely headed much lower after losing the lower trendline of a long-term rising wedge, which has also been successfully re-tested and has continued down - Possible because of two confirmed patterns and re-tests. Scenario B: - Unconfirmed Falling Wedge, which if it breaks up from will target ATH at 19.4% and bring us back into the rising wedge on pending a 2nd re-test. - Double-top and then true exit of the rising wedge before heading much lower - Possible because this behavior would be similar to the behavior following its previous set of peaks in 2017-18.
CRYPTOCAP:OTHERS.D
by dudebruhwhoa
1
Bitcoin - Buy exactly here for the long term! (premium solution)Bitcoin is ready to go higher, but this uptrend is starting to be a little bit extended, and we need a correction to 21k. I have been warning you for a long time about a huge crash that is going to happen soon or later. We still have an unfilled CME GAP, and exactly in the GAP we have the 0.618 LOG FIB retracement (15476->33000), which is a good confluence to buy Bitcoin for the long-term and ride your position to a new all-time high! It looks like Bitcoin is going to reach levels around 32k - 33k. I do not expect the last wave to be huge because of the previous waves (1) and (2). We can use the Fibonacci extension tool to measure the expected length of the last wave. Buying Bitcoin at the current or higher price for the long term is not worth it because you can definitely buy it cheaper at 21k later this year. Set up notifications for my ideas so you will be alerted in your email when I publish new analyses immediately! The pitchfork that you can see on the chart is still holding, which is, of course, a good sign for the bulls. But in the event of a breakdown of this pattern, you should be very cautious. I think it's going to trigger a massive selloff. If we take a look back to the bear market in 2021 - 2022, we can see a five-wave structure, which is pretty much undeniable. It can be a triple zigzag or an impulse. My outlook on this idea is bullish, so I marked it as a triple ZigZag. It's probably a complex correction because the last fifth wave looks like an ABC zigzag wave. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. Above the 32399 level is a high liquidity area, so there is a pretty good chance that the market wants to take all stop-loss orders from traders before the huge ABC correction happens! The 25k level has already been tested, so if you want to still buy here, it's probably not a good idea. Maybe for a short-term bounce, it could be. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
105
Nifty Trade Setup (30-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. So today market was sideways with 60 points movement only. Market for only scalpers not for trend followers it was expected as there was big gap up opening and when there is big gap opening do expect sideways price action. As posted yesterday that from price action on 1 Day TF price is moving in rising wedge and today it opened above both horizontal resistances mentioned on chart. (Unable to post yesterday chart i.e. 29-May-2023 due to basic member) Now as gap opening and positive global markets and positive earnings from major companies. This gap might act as good support zone which become flip zone (Resistance turned to Support) Not Expecting any gap downs but still to need as backup plan i will always try to plan my trade setup based on if price opens flat, gap up or gap down. For tomorrow this will be my trade setup: 1.) If opens flat and will wait for break of the Resistance zone of 60 points which formed today with resistance at 18641 and support at 18580. if it breaks one above then i will look for buying opportunities for target of rising wedge trendline 18670 to 18680. 2.) If opens gap up the will wait to form price action or any rejections from rising wedge trendline for target for todays resistance (18641) 3.) If open gap down and today's support of 18580 becomes resistance then will look for shorting for target of 18560,18510. Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. Also one can comment on how I can make this trade journal better any improvements I need in it :) .
NSE:NIFTY
by TradeInsights
Nifty Trade Setup (29-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. Hello everyone so as on 26-May-2023 (Friday) session when price took support at resistance level which i marked as horizontal line on 15 min TF i bought it there and stoploss was low of the hammer formed or day's low and i trailed my stoploss. It was good session and worked as per my trade setup. ( Cannot Post Previous Session Link as i am not pro member or don't have enough reputaion levels :) 😊 ... have to check previous day setup to check resistance level which became support.) Now for my Tomorrow's trade setup from price action it is forming rising wedge pattern on Daily TF making HH's and LL's now price is at Equal of previous high and if this pattern will be respected then it will make new high touching that upper trendline of rising wedge but For price to reach there, on upside NIFTY have hurdles of 18500, 18550, then 18600 levels. On downside nearby support is 18450. For my trade setup i will look for following : 1.) If opens flat and nifty might retest nearby support of 18450 as there was rejections from day's high on previous session. If price take support there i will be looking for buying opportunities for target of 1st resistance level (18550) then for 18580. 2.) If opens gap down i will see if it takes support near 18450 if it does then will trade as per point 1 setup. If price rejects this support of 18450 then will look for shorting opportunities for target of 18400 then 18350. 3.) If opens gap up then will look for rejections from nearby resistance levels and will wait if price rejects that resistance of bulls take control of price as did in previous session and then will trade accordingly. Things i will keep in mind: Nifty is bullish on Higher TF. which is Primary trend and if i place trade against the primary trend i will try to follow strict stoploss and strict profit booking levels. Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. also if you can help as Trading View is holding rewards if Ideas or Script can be listed in Editor Picks :) . also one can comment how i can make it better or any improvements i can make in my trading setups or improving this journal.
NSE:NIFTYLong
by TradeInsights
ARPA will 10x | The best coin to buy in 2023! ARPA is ranked only at 320, and that's why it has plenty of room for the minimum of 10x gains! It's a great coin from the technical perspective on the major weekly chart, and I have huge expectations for 2023 and 2024. The coin recently broke out of the rectangular base with extreme volume, which is definitely a good sign, and we are ready to reach a new all-time high and continue in the bull market. Forget about coins with a huge market cap; they're not going to make you rich at all; instead, you will lose money. This coin has a small market cap, and it's also listed on major exchanges, so you can buy/long it with comfort right away. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. The important thing is always to look at the previous price action from 2020 - 2021. We can clearly see a leading diagonal wedge Elliott Wave pattern, which is a pretty strong indication of interest and, in combination with the finished ABC correction, makes this a solid technical setup for a long position. I don't know about you, but I am already in on futures, and I longed it in the rectangular base before the breakout. This coin is very volatile, and it provides a lot of trading opportunities not only for swing trades but for intraday trades as well! ARPA Network (ARPA) is a decentralized, secure computation network built to improve the fairness, security, and privacy of blockchains. The ARPA threshold BLS signature network serves as the infrastructure for a verifiable Random Number Generator (RNG), secure wallet, a cross-chain bridge, and decentralized custody across multiple blockchains. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
75