Rising Wedge
Solana SOLUSDT - Bull flag! + Broadening wedge- On the chart, we can spot a bullish flag, which is currently breaking out!
- Also, the price is above the key trednline (wedge).
- Profit target is 0.618 FIB
- RSI is ready for a breakout!
- For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio (RRR) - please check my signature below ↓
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What are Falling and Rising Wedge Patterns?What Is the Wedge Pattern and Its Common Characteristics?
1. Wedge patterns have converging trend lines that come to an apex with a distinguishable upside or downside slant.
a. Wedge with an upside slant is called a rising wedge
b. Wedge with downside slant is called falling wedge
2. It has declining volumes as the pattern progresses.
3. It breaks out from one of the trend lines.
Why We Should Pay Attention to Wedge Patterns?
Some studies suggest that a wedge pattern will breakout towards a reversal rather than a continuation more often than two-thirds of the time. Therefore as the rule of thumb, people generally treat a falling wedge as a bullish pattern and a rising wedge as a bearish pattern, especially a falling wedge would be a more reliable reversal indicator than a rising wedge.
Since we know a wedge pattern has a higher probability to reverse and due to the fact that the price of wedge pattern converges to a smaller area, we can trade the reversal set up with a relatively close stop loss to its entry price, which provides us with a good trading opportunity with a decent Risk:Reward ratio.
Examples of a Bullish Rising Wedge and Bearish Falling Wedge.
Sadly, there is nothing that works 100% in trading. Not every rising or falling wedge will reverse as one might expect. Every trader must properly manage their risk by setting stop losses and not just trading based on price patterns. Below are two examples.
Bullish Rising Wedge (ETHUSDT during 15/NOV/20 - 28/DEC/20)
In the early stages of the epic 20-21 bull market, if traders blindly treat the rising wedge as a bearish signal and trade accordingly, they would pay a heavy price.
Bearish Falling Wedge (LTCUSD during 14/AUG/18 - 14/NOV/18)
On the contrary, in the late stage of the 2018 bear market, any trader who blindly trades the falling wedge to bet on a reversal would also learn a hard lesson.
Comment down your thoughts on Ascending Triangle Pattern in the comment section.
Disclaimer:
This is just an educational post. Never trade just any pattern. And please do your research before making any trades.
Happy Trading!
AVAXUSDT Rising Wedge shows Chance?/Trading StrategyBYBIT:AVAXUSDT
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A rising wedge is building since 9/12
Although lots people told rising wedge is bearish flag, I think we could catch chance if made good use of it.
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Apparently, the bottom of this wedge shows strong support before
Also, price gained support gradually on Fib(0.382) and Fib(0.5), can note there are two lower shadow on Fib(0.5)
Therefore, We could catch its vibration to earn consistently.
Based on the downtrend line was broke out and price has stood firm on Fib(0.618)(Orange arrow)
Trading Strategy as below.
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For Short-term
Profit Targets:
a) 79.8~83-----Fib(1)~Top of rising wedge
Stop losses:
a) 65.31-----low from two characteristic lower shadow(Orange horizontal line)
Past price action repeating itselfRising wedge pattern was also formed before in the past
Dont be surprised to see 38k
ETHEREUM: Final TestETH versus BTC is continuing to trend in a downtrend channel after breaking down from rising wedge.
Red area is a demand zone, and I expect a pullback there before breaking up from the channel.
Bearish 5-0 Looking To Break Down Below The 4HR 55 SMAWe have a Rising Wedge and Bearish Divergence on the MACD after rejecting the PCZ of a Potential Bearish 5-0; I will be looking for a big correction from here.
Rising wedge tsla battery shortage Michael Burry short $530 mill$530 million bet against Tesla Rising wedge tsla battery shortage Michael Burry short also btc drops.
CHFJPY Short likely• Price has broken out of a bigger channel so there’s a 90% chance of it going to the bottom of structure
• Downward trend with a pullback correction so there’s a high chance of a continuation to the downside
• Price has formed a rising wedge which is a reversal pattern and is currently at the top of structure
• Price is at an area of daily resistance which creates a double top so its likely to push to the down side
NOT FINANCIAL ADVISE.
BTC Rising Wedge - We are not out of the Woods YetBTC has just broken down from a rising wedge, signaling that we will likely have one more dump until we start trending up again. My support level is 38300, which is the 0.618 on teh daily time frame and also previous support.
Midterm Btc analyzeI think btc will a rising wedge. After this period, Fırat duration is 55k. When btc broke the wedge to the down, it will reach 28k or down.
NDXWe hit my IH&S pattern but could not break up from the rising wedge. Instead we have broken down, I think we are heading to that weekly 50 ema at 13,500
EURCHF Short• Broke out of a big channel – 90% chance of going to the bottom
• Downward trend creating a lower high
• Came back to retest the channel’s support
• Created a rising wedge which is now broken
SPX500USD 20% COIRRECTION IN PLAYThis is an update for the previous chart.
A Rising Wedge formed in November 2020, you can see that it has broken to the downside with a target retracement of 20% medium term.
I opened up a short as soon as we broke the trend, one can play through each level of S & R seen on the charts.
3640 is the target for 20% downside.
Buy resistance, sell support. NFA.
Safe trading.
BTC SHORT Risk to Reward 1:10Rising Wedge and bounce off trendlines with low volume point that BTC will retest the bottom levels of support after breaking down from a rising wedge this set up is on the 4 hour chart.
Bearish Flag and Rising WedgeI see bearish flag and rising wedge. If the upper support of the ascending wedge is broken up and a 4-hour close, this possibility will be cancelled. The first target is 44.5k when breaking below the wedge and closing in 4 hours. If the wedge target is completed and the bear flag is active, the target can range from 38k to 38.5k.
BITCOIN DOMINANCE BREAKOUT???Hello folks,
Welcome to this exclusive BTC dominance chart in 8 hours timeframe.
First of all, thank you for following and supporting me on the Tradingview platform. It means a lot to me. Through this platform, I am being able to provide quality content and exclusive updates for you all. So keep supporting and show your love for the community.
Now, let's get back to the chart.
We all know that BTC dominance was under the falling wedge pattern since 31st July 2021. It is exactly 48 days & 8 hours and now finally we can see a breakout above the resistance level. Yes! A breakout of the falling wedge pattern clearly indicating a formation of a new rally, a rising wedge pattern.
Wait! But how can you be so sure? it can be a fake-out as well!
Yes, I agree with that. I may be wrong and this could be a fake-out or a trap but we can't simply ignore it. We need to pay close attention to the dominance and in this chart, we are going to do that.
* The first thing we need to notice is the bouncing level, BTC.D bounced back from 40.43 level close to the same level where the last dominance bounced on 18th May 2021.
* The second thing to observe will be the moving averages. In this chart, the blue line indicates the 21 MA and the yellow 50 MA. It is close enough to make a bullish crossover.
* The third thing will be the breakout. Like I said this could be a fake-out as well but at least we can wait for the confirmation.
If we are really entering the new rally towards the upside then we can expect BTC.D to reclaim the 50% level within no time. But if in any case, this analysis is invalided and the dominance falls then we may see it below the 40% level reaching the 39% or even lower levels.
All we need to do is wait for the confirmation. The dominance must hold and close above the resistance level.
That's all for the update. If you find this useful then do like and share.
What's your thought on the BTC.D? Is it the end of the falling wedge? Is BTC.D going to form a rising wedge pattern?
Do comment your ideas in the comment box.
short on teslawait the conferm on false breakout on double top and open short with target at golden pocket
stop loss on 0.3 fib
DEFI dominance rising in a rising wedgeAlthough this patter is a bearish one note that this is a weekly chart and I expect a rising of DeFi dominance at least until the first third of October. This means overall DeFi will keep pumping. I hope you own some of them!
Thanks to Blockwolf for sharing with me this DeFi domindance ticker which I didn't know!
BTC Rising wedge with sniper rejection.keep it simple and too the point.
BTC must go down a bit to invalidate this rising wedge. because its not good for long term bullish momentum.
try to go short after 49k region if you want.
TWO REASONS TO SELL GBPCHFTWO REASONS TO SELL GBPCHF
1. Price hit the daily resistance level
2. Formation of the rising wedge on 4H
To short with confirmation and confidence wait for the breakout of the wedge and sell on a retest.
Once the price breaks to the upside then we will look for another setup.
What is your idea on GBPCHF? Bullish or Bearish?
$AMC rising wedge and MACD divergenceSince $AMC broke out of the huge wedge on the 20th of Aug, it has been forming a rising wedge approaching the low 50s. However, you can see the 14-day RSI is approaching overbought territory and there is a divergence in the MACD. This is a time to take profit or stock up on more once it reaches 45USD (0.382 fib level)
