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Wedge

USDCAD → The currency pair is preparing to decline. Target 1.360FX:USDCAD for the last few days does not show any preconditions for a pullback or growth, forming a pre-breakdown consolidation relative to 1.372. The fall of the dollar can provoke a breakdown.... Technically, the price is returning to the range of 1.3755 - 1.3600. The bears are holding resistance, forming a descending triangle under the upper boundary of the range, which is generally a prerequisite for a fall. The only possible target in such a case could be the range support. According to the survey conducted by BofA among investors, more and more traders are betting on the decline of the dollar. The general policy of the Fed is also putting pressure on the index. The currencies may go into a strengthening phase.... Resistance levels: 1.3755, 1.3787 Support levels: 1.372, 1.3655 Technically, the currency pair is forming a local downtrend, and the intermediate patterns play the role of triggers for the continuation of the movement. Accordingly, I continue to expect that the currency pair may decline to 1.36 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDCAD ;) Regards R. Linda!
Short
by RLinda
8
EUR/USD Trade ReportDate: August 15, 2024 Instrument: EUR/USD Timeframe: 4H Trade Type: Short Position, followed by a Long Position 1. Market Analysis: Pattern Observed: A leading diagonal is forming, suggesting a potential initial pullback before a continuation of the upward trend. Pattern Characteristics: The leading diagonal is often seen at the start of a new trend, indicating a brief correction before the trend resumes. 2. Trade Setup: Short Position: Entry: Planning to enter a short position at 1.10440, expecting a correction after the diagonal completes. Stop Loss: Placing a stop loss above the recent high at 1.10767. Take Profit: Targeting a key support level or Fibonacci retracement at 1.08813. 3. Risk Management: Position Size: Adjusting position size to risk no more than 1-2% of trading capital on each trade. Risk-Reward Ratio: Aiming for a risk-reward ratio of at least 1:4. 4. Outlook: Neutral to Bullish Bias: While the initial move is a short, the overall outlook remains bullish, with expectations for the trend to resume after the correction.
Short
by justTheRookieTrader
Gold Trading ReportDate: August 15, 2024 Instrument: Gold (XAU/USD) Timeframe: Daily Chart Trade Type: Short Position (Pending Order at 2277.50) 1. Market Analysis: Pattern Observed: An ending diagonal has been identified on the daily timeframe, signaling a potential trend reversal. Pattern Characteristics: The ending diagonal typically appears in the final wave of a trend, often indicating exhaustion before a reversal. The pattern is characterized by converging trendlines that suggest a weakening bullish momentum. 2. Trade Setup: Pending Order Placement: A pending short order has been placed. Entry Level: The order is set at 2277.50, to capture the downside momentum when it start. Stop Loss: The stop loss is placed above the recent high at 2511.78, to protect against a potential continuation of the bullish trend. Take Profit: The target is set at 2278.00, ideally at a key support zone or the previous wave low. 3. Risk Management: Position Size: The position size is calculated to risk no more than 1-2% of trading capital, aligning with proper risk management practices. Risk-Reward Ratio: Aiming for a risk-reward ratio of at least 1:2, ensuring a favorable outcome even if the trade does not go as planned. 4. Outlook: Bearish Bias: The ending diagonal suggests a bearish bias, with expectations of a trend reversal upon the pattern's completion. If the breakout occurs as anticipated, there could be significant downside potential. Market Sentiment: The broader market sentiment is mixed, with gold facing both bullish and bearish pressures. The completion of the ending diagonal could tip the balance in favor of the bears.
OANDA:XAUUSDShort
by justTheRookieTrader
3
EURCAD - Trading The Wedge...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 EURCAD has been overall bullish , trading inside the rising wedge pattern in orange. At present, EURCAD is undergoing a correction phase and it is hovering around the lower bound of the wedge. Moreover, it is retesting a massive demand zone marked in blue. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the blue demand and lower orange trendline acting as a non-horizontal support. 📚 As per my trading style: As #EURCAD is hovering around the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
GOLD - Price bounce up from support area to $2530 pointsHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Recently price rising near support line and when it reached $2474 points, it made downward impulse. Gold broke support line and then $2415 level too, but also price entered to wedge, where it fell firstly to support line. After this, price bounced and rose to support level, after which made correction to support line and then bounced up again. Price broke $2415 level and soon reached $2475 level, and then it some time traded near, after which fell below. Next, price made upward impulse, thereby breaking $2475 level and exiting from wedge, but soon turned around. Now, I think that Gold can fall to support area, which coincides with support level, and then bounce up to $2530 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
3
(Update) !!! DOGE daily Chart Analysis : Bull or Bear ? (READ)BINANCE:DOGEUSDT is forming a falling wedge on daily timeframe , Up we go if we do breakout. ✨Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅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
4
GOLD → Retest triangle resistance. Next, 2500 or 2400?FX:XAUUSD is strengthening after retesting support at 2440 and false breakdown, heading towards ATH. Buyers are keeping the market from falling, forcing the price to bounce off the local range support. It is worth emphasizing the strong bullish trend and continued retests of triangle resistance, which only increases the chance of a breakout and upside. The gold price has been strengthening since the evening session, despite strong US data (for Thursday) being the latest boost to dollar buying, especially after an inflation report earlier this week that cast doubt on the possibility of an aggressive Fed interest rate cut in September. Special emphasis on looming geopolitical tensions in the Middle East, which continues to support sentiment around the hedge asset Resistance levels: 2464, 2477 Support levels: 2458, 2450, 2440 Emphasis on both the boundaries of the above range and internal levels. If the bulls hold 2458, their further target will be the resistance 2464, the breakdown of which will lead gold to ATH. And in this case the market will start testing 2477 for a breakthrough and growth. If the bulls show weakness, the market may make another attempt to retest the support before further growth. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
17
"BITCOIN" Rising Wedge Could be BearishQuick look at "BITCOIN" i.e. HarryPotterObamaSonic10Inu Fairly clear rising wedge pattern at play with one false breakdown. I would expect a retest of the lower trendline, after which watch for a close below that. A retrace to the upper trendline is always possible, however statistically this is a bearish pattern. On a breakdown, the first level is the pattern lows (red line), and the next is a measured move of the width of the wedge (orange line).
CRYPTO:BITCOINUSD
by ronzo777
1
Bitcoin — An Analysis Of The Lower Timeframe Indicates More DownBitcoin is in a highly volatile and indecisive phase. Everyone is waiting for a clear sign that BTC will go higher or test lower lows. During these times, it can be beneficial to examine lower timeframes (e.g., 1H) to gain a better sense of the market. Unfortunately, the lower timeframe sends some warning signals. Let me explain. Bitcoin trades in a descending broadening wedge - a chart pattern characterized by two diverging trendlines and the price making lower highs and lower lows. Typically, this is a good sign since the pattern will likely break out to the top and ignite bullish momentum. But there is a twist. Volume plays an essential role when assessing this pattern. As the pattern evolves, you want a decreasing volume. This indicates that selling pressure is getting lower despite a lower price, which can ultimately lead to a bullish breakout. Looking at Bitcoin, the opposite is true. Volume has increased while the pattern has evolved. Even worse, we can see the biggest volume is on the selling side. In this case, there's a huge chance that instead of an upward breakout, the price could break downwards, continuing the preceding downtrend. What to do: - Closely monitor the upper and lower trendlines + volume - A strong volume increase usually drives a breakout - Breakout attempts with little volume are usually not successful
COINBASE:BTCUSDShort
by ben_walther
1
RUNE — Breaking This Pattern Can Send It HIGH!RUNE has been trading in a falling wedge pattern since April. The wedge is a chart pattern formed by converging downward-sloping trendlines. What's so interesting about a falling wedge? It is considered a strong bullish sign 💪 This might sound strange if you look at the chart and see a constant downtrend. However, breaking out of this pattern to the top usually ignites a massive pump. This is especially true if a pattern has formed over a longer timeframe. Just like in RUNE's case! Watching the trendlines is essential in this case. Although the pattern narrows, RUNE can still bounce back and force a couple of times.
Long
by ben_walther
BITCOIN - Price can leave pennant and fall to $54500 levelHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Some time ago price entered to falling channel, where at once fell to resistance level and soon broke it. After this, price declined to support line and then exited from falling channel and fell lower even $54500 level. Then BTC entered to pennant, where it turned around from support line, and made upward impulse broke $54500 level again. Next, price made retest from this level and in a short time rose to resistance line of pennant and then started to decline. In a short time, Bitcoin fell to support line of pennant, where at the moment continues to trades near. I think that price can make movement up to resistance line and then bounce down to $54500 level, exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
19
NOTCoin → Pullback after a false breakdown. When is it going up?BINANCE:NOTUSDT on the background of the rally ( together with TON ) strengthens and updates the maximum 0.0129, thus forming a retest of the wedge resistance. The attempt is unsuccessful, the reaction is a pullback to the liquidity zone. Fundamentally interesting project in the medium and long term can still show good growth, but for this developers need to try. The prospects of Notcoin will depend on the innovations developed by the project, its marketing strategy and the state of the overall cryptocurrency market. Technically, a false breakdown of the wedge resistance is forming amid bitcoin's decline. The price may test the liquidity area of 0.0105 and then a retest of the resistance may follow. I do not exclude the fact that the support may be broken without any corresponding reaction, in this case we will wait for a retest of trend support. Resistance levels: 0.1294 Support levels: 0.01053, 0.00912 Accordingly, any breakout and consolidation of the price above the wedge resistance will be a strong signal for further rally. As long as the price has not left the range, it is worth considering trading inside this pattern. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:NOTUSDT ;) Regards R. Linda!
Long
by RLinda
10
BITCOIN → Why didn't we go above 70K? The reason for the drop...BINANCE:BTCUSD has been in consolidation for 5 months. The price makes another retest of the 70K resistance, but due to several reasons failed to pass this area. A correction inside the FLAG is forming From 70K resistance another correction to 64K has started. The reason for this is strong bullish sentiment after the US allowed bitcoin as a reserve asset. There is also a lot of attention to BTC because of the presidential race. Accordingly, the Market Maker eliminates the positive crowd (the price always goes against the crowd). And whales start buying the asset at cheaper prices. On Friday, the NFP report and unemployment (up 4.0% to 4.3%) influenced the price drop. Rising unemployment + rising inflation had a negative impact on the markets. It is too early to buy, we should wait for the slowdown of the movement and stronger data. Resistance levels: MA-50, 63250, 68570 Support levels: MA-200, 59300, 56500 Technically, the price is testing MA-200 and is squeezed above MA-50. If MA-200 fails to hold the price, bitcoin may go down to the lower boundary of the FLAG before a buyer can take over the situation. BUT, if the bulls hold MA-200 as support and manage to consolidate above 63300, a rise may be waiting. Overall, the fundamental background is very positive, but local economic data has a negative impact on the markets. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSD ;) Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
134
JASMY has formed a Pretty Big falling wedge Pattern!...JASMY is forming a falling wedge on 4H timeframe , Up we go if we do breakout. ✨Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅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
3
EURUSD → Attempting to change the global trend.... FX:EURUSD after the retest of the trend resistance is forming a correction, which is correlated with the growth of the dollar index. By the nature of the movement, the currency pair is in the bull market phase.... False breakdown of the symmetrical triangle resistance. The fundamental background for the currency pair is relatively positive. The dollar will continue its decline in the future, which is favorable for the euro. In this case, after the end of the correction, it is possible to retest the resistance with the aim of breaking through and further change of the global trend from neutral to bullish. Technically, the focus is on 1.0916 and 1.095. Breakout and price consolidation above this zone will be the beginning of further bullrun. Support levels: 0.5 fibo, 1.087, 0.7 fibo, 0.79 fibo. Resistance levels: 1.0916, 1. 095 Both technically and fundamentally, we have positive preconditions for the growth continuation. The correction may take a little longer, but it is worth paying attention to the key zones indicated on the chart. Rate, share your opinion and questions, let's discuss what's going on with ★ EURUSD ;) Regards R. Linda!
Long
by RLinda
3
Bitcoin Analysis==>> Reversal Patterns==>>(Short term)Bitcoin moved as I expected in the previous post . Bitcoin is currently moving in the Support zone($60,800-$56,700) and near the Support lines . In terms of Classic Technical Analysis , Bitcoin seems to have succeeded in forming a Falling Wedge Pattern , and an Inverse head-and-shoulders Pattern is possible . Also, we can see Regular Divergence(RD+) between Consecutive Valleys. I expect Bitcoin to rise to at least near $60,000 . Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; 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.
Long
by pejman_zwin
29
EURO - Price can bounce up from support area to $1.1100Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price declined inside falling channel and fell to support level and even lower support area. After this movement, Euro turned around, entered to wedge, and made a strong upward impulse, leaving falling channel. Also, price broke $1.0810 level and later reached next support level, but soon turned around and started to fall. In a short time, EUR fell to support line of wedge, after which bounced up to $1.0990 level and broke it. Then price made retest and rose to resistance line of wedge, but recently fell to support area. Now, I think that Euro can bounce up from support area to $1.1100, exiting from wedge pattern. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon