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Wedge

Reversal for Gold ( Right - Angled Ascending Broadening Wedge)This right angled ascending broadening wedge is a downward reversal pattern. Its formed by two diverging lines, the support is the horizontal range low and the resistance is an oblique bullish one. I am waiting for a short entry / long entry at the bottom of the range traditional strategy: Entry:Opening a short position at the support break Stop loss:The stop loss is placed above the support Objective:Theoretical objective of the pattern Advantage:Minimum objective very often achieved (91% of cases) Disadvantage:Pullbacks are common (72% of cases).It may therefore be wise to wait for the pullback to open a position The aggressive strategy: Entry:Opening a long position on the 3rd contact with the support Stop loss:The stop loss is placed below the last lowest point Objective:Opposite terminal of the triangle Advantage:The amplitude of the movement will be significant in the event of a bounce towards the opposite terminal.Low risk Disadvantage:More frequent bearish exits
ICMARKETS:XAUUSD
by CryptoHydro
$KAI may deliver 12,000% with a multiyear wedgeThis is a oriental, non-stop building project The price is inside a multiyear gigantic wedge with another multimonth wedge inside (see the colorful Gann Fan) The first target is the height of the first Gann Fan wedge, on 0.0065 delivering 165% from now If you want to diminish risks, you may wait for the transformation of the ceiling of the wedge into a support (upper continuous blue line) Other targets are: (1) the low Bean Band delivering +900%; (2) multiyear wedge target delivering +5,500% and finally the (3) high Beam Band delivering staggering 12,000% on the long run All targets are painted with a dashed purple line
Long
by CCCLopes
1
STG Morning Doji Star 🍨 Massive GainsHey guys! Well, first of all you don't want to miss this chance! Here's my price action analysis for this coin: We have a very strong upwards trendline that has been respected and bounced off from for 7 months. That's a huge hint to prove is a key area! It has been faked out twice and everytime it bounced off from it, came back stronger than ever. Last bounce we had not only it bounced off our upwards trendline but it also formed a strong bullish reversal candlestick pattern: Morning Doji Star! We could say it's trying to break from the downwards move (pennant, triangle) these are very subjective but it adds up to the confluence ice cream bowl. As a side note, candlestick patterns don't have a real meaning unless they happen at a high confluence zone then you really want to play attention to get on board on the train early! Moreover, I recommend you trade SPOT this because market fluctuates and stops can get taken out in higher TF ideas. So HODL ! Targets area marked as TP1, TP2 and TP3 All the best, Kina 🍨 The Girly Trader
Long
by KinaStar
4
BAKE: Breakout will push price by 200%#BAKE/USDT #Analysis Description --------------------------------------------------------------- + BAKE has repeatedly retested a key support zone, demonstrating resilience as the price continues to hold strong at this level. The latest test of this support presents a potential opportunity for a bounce back. + Multiple Retests: The price has tested this support zone multiple times, each time holding firm, which reinforces the strength of this level. + Current Setup: The price has once again hit the support, and we anticipate a bounce back from this zone, offering a favorable setup for a long trade. + Trade Opportunity: Given the consistent strength of this support zone, entering a long position with a target based on the expected bounce could be a promising strategy. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 0.2918 Stop Loss: 0.1790 ------------------------------ Target 1: 0.3442 Target 2: 0.4085 Target 3: 0.5613 Target 4: 0.8131 ------------------------------ Timeframe: 1W Capital Risk: 1-2% of trading amount Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
Long
by VectorAlgo
Critical moment for EURUSD wedge patternEURUSD bears are trying to invalidate a wedge pattern by sending the price below 1.0887, yet bulls are not giving up quickly, and if the level holds, EURUSD could reach a fresh monthly and 2024 high. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Long
by ThinkMarkets
NOTCOIN→ just a hunt candle!hello guys... let's analyze NOTCOIN! 1. Descending Wedge Pattern: - The chart shows a descending wedge pattern, which typically indicates a potential bullish reversal. - The price has been consistently making lower highs and lower lows, but it is approaching the wedge's bottom line, suggesting a possible breakout if buying pressure increases. 2. Support and Resistance: - Support (Hunt Area): The price recently touched the bottom of the wedge and the labeled "hunt area," which indicates a potential support zone where buyers might step in. - Resistance (Gray Area): The price is approaching a resistance zone marked in gray. A close above this area could trigger a move higher toward the top line of the wedge, around the $0.0145 level. 3. Potential Scenario: - If the price closes above the gray resistance area, it could move upwards, testing the top line of the wedge. - If the price fails to close above this area, it might continue to trade within the wedge or test the support levels again. 4. Bullish Outlook: - A breakout above the top line of the wedge would be a strong bullish signal, potentially leading to a significant upward move. Summary: - Watch the Gray Area: A close above this could signal further gains. - Potential Breakout: A break above the top line of the wedge could confirm a bullish reversal. - Downside Risk: If resistance holds, the price may continue consolidating or retest lower support levels. Keep an eye on the volume and market sentiment for more confirmation. ___________________________ ✓✓✓ 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
Long
by melikatrader94
6
Solana's Resurgence: Can It Reach $170 After the Falling Wedge?Solana, the high-performance blockchain platform, has experienced a tumultuous journey in recent times. A sharp price decline, culminating in a dramatic crash, has left many investors questioning the future of this once-promising cryptocurrency. However, the emergence of a falling wedge pattern on the price chart has sparked renewed optimism. Can Solana truly recover and reach its $170 target? Understanding the Falling Wedge A falling wedge is a technical analysis pattern that suggests a potential reversal of a downtrend. It is characterized by a series of lower highs and higher lows, forming a wedge shape that converges downwards. Once the price breaks out of the wedge to the upside, it often indicates a bullish trend reversal. If Solana successfully breaks out of the current falling wedge pattern, it could signal a significant price increase. However, it's essential to remember that technical analysis is just one tool in an investor's arsenal, and it's not foolproof. Factors Influencing Solana's Recovery Several factors will determine whether Solana can achieve its $170 target. • Network Performance: Solana's ability to maintain high transaction speeds and low fees is crucial for attracting developers and users. Any issues with network stability or scalability could hinder its price recovery. • Ecosystem Development: The growth of Solana's ecosystem, including the number of decentralized applications (dApps) and projects built on the platform, is essential for driving demand for SOL tokens. • Regulatory Environment: The regulatory landscape for cryptocurrencies is evolving rapidly. Favorable regulations can boost investor confidence, while restrictive measures could dampen enthusiasm. • Market Sentiment: Overall market conditions, including the performance of Bitcoin and other major cryptocurrencies, will also impact Solana's price. Challenges Ahead While the falling wedge pattern is encouraging, Solana faces significant challenges. The recent crash eroded investor confidence, and it will take time to rebuild trust. Additionally, the competitive landscape in the blockchain space is intense, with other platforms vying for market share. Furthermore, the broader macroeconomic environment, including inflation and interest rate policies, can influence investor risk appetite and impact cryptocurrency prices. Conclusion The possibility of Solana reaching its $170 target after breaking out of a falling wedge is certainly intriguing. However, it's essential to approach this with caution and consider the various factors that could impact the cryptocurrency's price. Investors should conduct thorough research and consider their risk tolerance before making any investment decisions. Diversification is also crucial to manage risk effectively. Ultimately, the success of Solana will depend on its ability to deliver on its promises, address technical challenges, and adapt to the evolving cryptocurrency landscape. Disclaimer: This article is for informational purposes only and should not be considered financial advice. Investing in cryptocurrencies carries significant risks, and it's essential to conduct thorough research before making any investment decisions.
COINBASE:SOLUSDLong
by bryandowningqln
(Update) !!!Hi. 🔵We have a Bullish Structure here NOTUSDT formed a falling wedge on 1D timeframe🤔 Up we go if we do breakout . The price is at the bottom of the channel and also in the wedge, these pressures will eventually make the price rise. ✨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
6
TeslaWe can see three different patterns in 3 time frames namely trend consolidation, falling wedge and rounding top. 200 is rounding bottom pattern completion zone and can act as a strong support. Buy above 209 with the stop loss of 207.5 for the targets 211, 213 and 215. Sell below 205 with the stop loss of 207.5 for the targets 203.5, 200.5 and 198. Check the live market updates. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NASDAQ:TSLA
by vanathi
EURUSD → Consolidation before distribution. Target 1.100FX:EURUSD is forming a wedge, the nature of the pattern is consolidation. FOMC & FED meeting is ahead. The main issue is inflation and interest rate cuts. What should we expect? 100% probability that today the rate will remain unchanged, but Powell at the meeting may signal a Fed rate cut in the coming months amid slowing labor market growth. Eurozone consumer inflation fell from +0.2 to 0% (expected -0.3%) and core CPI rose by 0.1 to +2.9%, suggesting a generally improving environment for a stronger EUR. Technically, the bulls are trying to hold the area of 1.08. A descending wedge is forming on the chart, another retest, if the fundamental background persists, may lead to a break of resistance. In this case, the market may move into the distribution phase, within which it is able to update the local maximum. Resistance levels: 1.0852 Support levels: 1.08 Traders are in no hurry to act prematurely and will wait for the Fed and FOMC meeting. Technically everything is favorable to start the growth. Potential target is 1.100 Rate, share your opinion and questions, let's discuss what's going on with ★EURUSD ;) Regards R. Linda!
Long
by RLinda
6
Broadening Descending Wedge - BTC 2024The BDW pattern was last seen in the previous cycle prior to the parabolic retail participant period. The last/3rd dip was a black swan event - COVID Crash. We are currently putting in similar structure it seems for now. With a capitulation across all markets occurring today. Are we experiencing the 3rd dip already or is it yet to come. Serious volume backed selling across all markets over the weekend. All bonds are pushing higher, VIX INDEX is at highs comparative to the 2008 economic reform, Japanese Stock market had a crash. Where are we in this cycle? Will the dip be short lived and brought back up or is this going to drawn out requiring longer time frame accumulation structure? The bars pattern has been copy/pasted , definitely not expecting the orange to play out as high is it shows
by dr8gonfly
After strong impulse up, Euro can make correction to 1.0910Hello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price rebounded down from the resistance line from the wedge and dropped a lower 1.0730 support level, which coincided with the buyer zone. Then price some time traded between the support level and later reached the support line of the wedge and started to grow. Next, the price broke the 1.0730 level and made the first gap, and then continued to rise to the 1.0910 level, which coincided with the support area. When it reached this level, it formed a second gap and even broke the 1.0910 level, after which reached the resistance line of the wedge. But then turned around and started to decline inside from a downward channel. In the channel, the price broke the 1.0910 level again and exited from the wedge also, after which it declined to 1.0780. After this EUR made a strong upward impulse, thereby exiting from the channel and also breaking the 1.0910 level. As well recently, the price bounced from the support area, and at the moment, I think that the EURO can make a movement up and then make a correction to the support level. That's why my TP is a 1.0910 level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
5
GOLD - Price can fall almost to support level and start to growHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 A not long time ago price entered to rising channel, where soon broke $2360 level and then made a retest. After this, price continued to move up until it reached resistance line of channel which coincided with resistance level. Price broke this level and exited from rising channel also, but soon it turned around and made downward impulse. Also, Gold formed a gap and then entered to wedge, where it later rose higher than $2445 level, but soon fell below. Then XAUUSD declined to support line of wedge and recently exited from this pattern, and now it continues to fall. In my mind, price can decline almost to support level and then start to grow to $2445 resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
2