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Rising Wedge

NZDCAD in Coming Days!✅ Based on the analytical method in the CTS strategy, the NZDCAD currency pair is in a downward phase by reaching a PRZ zone. ➡️ bearish signals in the PRZ area are: - The roof of the descending channel - Pivots R1 monthly and R3 weekly ➡️ and the downward signals of market momentum are: - Divergence in MACD and RSI in 1 hour - RSI OVERBOGHT in 4 hours - The possibility of forming a Rising wedge pattern in 1 hour 🌟 Note that the price has reached the PRZ zone and the entry trigger will be activated by hitting the bottom of the miner in one hour time and forming a return pattern. On the other hand, if the PRZ is broken upwards with the strength of bullish candles, this analysis of ours will be failed . ✅If this post was useful for you, like it ❤️ and if you think it is useful for your friends, be sure to send it to them. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🌍Thank you for seeing idea . Have a nice day and Good luck.
Short
by CobraVanguard
11
Bitcoin - Final pump to 32k before a crash to 15k! Bitcoin may be ready for a final impulse wave to the upside before it collapses to 15k! On the chart, we can see an ending diagonal wedge pattern (3-3-3-3-3), which is why we could finish it at around 32k-33k. This will be your lifetime opportunity to short Bitcoin and ride the massive bear market that will follow! Do not buy any altcoins or Ethereum because it's totally dead and only Bitcoin may pump to new highs. The 0.382 FIB extension is right above the previous wave 3. This is a very strong level because it's the inverse of the 0.618 FIB, and usually Bitcoin reacts to it. 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. I am of course very bearish for Q3 2023 and Q4 2023. As you know, I expect a big crash to 15k, but this could be the final uptrend to 32k. Right now I am out of the market and do not have any open positions, but I am going to open a short at the top of the wedge / 0.382 FIB extension. I am already prepared for the bear market, so it is better to stay in USDT, sell spot positions, and trade futures. If you think this is a reasonable Elliott Wave count, you can go to intraday charts and find some longs. Also, if you are already in a short position on futures, you can open a temporary hedge to protect yourself from this final wave. I do not trust this pump from 19k, because it shows a lot of signs of weakness, such as ABC waves. This analysis is my bullish scenario because I have always prepared bearish and bullish scenarios. Take my Elliott Wave count into consideration for your trading. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
215
Wealth Unleashed: Wedge Pattern Power - Hidden Gem Revealed!Introduction: Are you looking to skyrocket your trading profits? Look no further! Today, we will uncover the hidden gem of trading patterns: the Wedge Pattern. This powerful tool has the potential to transform your trading strategy and help you achieve financial success. Let's dive into the world of wedge patterns and explore how you can capitalize on their power. What are Wedge Patterns? Wedge patterns are popular among traders due to their high probability of forecasting trend reversals. These patterns appear when the price of an asset consolidates between converging support and resistance lines. There are two primary types of wedge patterns: the rising wedge and the falling wedge. Rising Wedge: In an upward trend, the rising wedge is considered a bearish pattern. It forms when the price consolidates between an upward-sloping support line and an upward-sloping resistance line that are converging. As the price approaches the apex of the wedge, the upward momentum weakens, signaling a potential trend reversal to the downside. Falling Wedge: Contrary to the rising wedge, the falling wedge is a bullish pattern. It appears in a downward trend when the price consolidates between a downward-sloping support line and a downward-sloping resistance line that are converging. As the price nears the apex of the wedge, the downward momentum loses strength, indicating a possible trend reversal to the upside. Trading Strategies: To capitalize on the power of wedge patterns, follow these steps: ✅Identify the pattern: Observe the chart for converging support and resistance lines to spot a rising or falling wedge pattern. ✅Confirmation: Wait for a breakout from the wedge pattern, either above the resistance line (for falling wedges) or below the support line (for rising wedges). ✅Entry point: Open a long position after a breakout above the resistance line in a falling wedge, or a short position after a breakout below the support line in a rising wedge. ✅Stop-loss and take-profit: Set your stop-loss order below the breakout level (for falling wedges) or above the breakout level (for rising wedges). Establish your take-profit target at a level that aligns with your risk-reward ratio and trading plan. Conclusion: The wedge pattern is a hidden gem that can potentially boost your trading profits when used correctly. By mastering the art of identifying and trading wedge patterns, you can strengthen your technical analysis skills and increase your chances of success in the market. Remember, no single tool guarantees success, so always use additional technical indicators and maintain a disciplined approach to risk management. Happy trading!
Education
by Yaroslav_Krasko
Ethereum - The downtrend is over! Time to buy again. Ethereum is approaching a key support, and it's a good time to buy/long!  If we take the Fibonacci retracement for wave 3, the price is very close to the 0.618 level. Also, the previous wave 1 acts as a strong support, so we have a great confluence from the Elliott Wave and Fibonacci perspectives. We should go up and make a new high to complete the impulse wave on this chart. I expect another small bull market on Bitcoin. On the 4-hour and daily charts, we can clearly see an ascending parallel channel that has been destroyed by the bears recently. This channel should be at least retested, but I expect more. What happens after we finish this impulse wave? You don't want to hear it, but Bitcoin is going to crash to 15k, so make sure you are prepared for it! The true bull market will start in 2024. 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. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
60
EURGBP: Buy the rising wedgeHello Traders! Welcome back to another trade with analyst Aadil1000x. Today there is a nice bullish pattern in eurgbp and it's called a rising wedge pattern. This pattern is popular as a strong short pattern and that's good because when they sell we buy. It does not matter how others are doing we will make money by buying a rising wedge. Also, it's never a short pattern. Wait for a clear pattern before buying eurgbp. Don't forget to hit the like button and follow to stay connected.
Long
by Aadil1000x