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Wedge

Assessing Gold's Direction Through Asia Tuesday 10 Sept. Gold & the way it moves reminds me of the famous Pacman-game of the 1980s. Those were the days because not many of us were forward thinking enough to see and look into the future about how incredible gaming would become. We were happy with games like pacman and space-invaders. I get all the 'gaming' I need from Trading the markets. Please see my chart. It is possible that Gold will dip as it is moving in a rising wedge and right at the top right corner golly-gosh would you believe, which means Pacman may want to head south and chew up some Stops. After all it is nearly lunchtime in Australia presently, Later.
EIGHTCAP:XAUUSDLong
by Easy_Explosive_Trading
1
EUR/AUD SHORT Euro Weakness : The European Central Bank (ECB) is expected to maintain a dovish stance, with potential rate cuts extending into 2025 due to weak economic growth and persistent inflation concerns. This, coupled with fragile economic recovery in the Eurozone and political uncertainties in key countries like France and Italy, is likely to keep the Euro under pressure. Weak manufacturing data further adds to the downside risk for the Euro. Australian Dollar Resilience : Despite economic challenges, the Reserve Bank of Australia (RBA) maintains a tightening bias, which creates a favorable rate differential compared to the ECB. While weak commodity prices have affected the Australian Dollar (AUD), Australia's export-driven economy, particularly in metals and energy, may provide support if China's economy stabilizes. Additionally, the AUD could benefit from any improvement in global risk sentiment.
by kierianf
2
BTCUSD: Descending Broadening Wedge Pattern and $100K TargetThe Descending Broadening Wedge pattern has unique characteristics compared to the Falling Wedge or Flag patterns. While the Falling Wedge and Flag patterns feature converging lines that taper to a point, the Descending Broadening Wedge widens from left to right, indicating increasing market volatility over time. This pattern forms when the price moves within an expanding range, creating a downward-sloping resistance line and a support line that also declines at a steeper angle. I have identified an intriguing Descending Broadening Wedge pattern on BTCUSD. The chart clearly depicts this pattern through a series of lower highs, depicted by blue arrows, and lower lows, depicted by black arrows. The price tends to rebound between the support and resistance lines, with these rebounds depicted by orange arrows. To confirm a bullish move, it is crucial to wait for a price breakout above the resistance line of this pattern. A breakout from this resistance will signal a momentum shift and could serve as a strong indicator of a price surge, depicted by the green arrow, with the target for this price surge being the psychological level around $100,000.
COINBASE:BTCUSDLong
by DNP-FX
1
Bold Maverick vs. Cautious Rabbit: XAUUSD Wedge Breakout BattleMaverick Approach: As a Maverick, you're always looking for opportunities to make aggressive moves when the risk/reward seems enticing. Here's what stands out: Retracement into a Key Support Zone: The price is pulling back near the lower support channel and hovering around 2,498.860, just above the earlier consolidation zone. A Maverick would see this as a potential buying opportunity, betting that price will bounce off this support level and move back toward the previous high around 2,531.861. Given the structure, it's a chance to enter a long trade while the market is still within the rising wedge. Action: Jump in for a quick buy at this level, looking to ride the bounce. Your bold side may put a take-profit target near the ATH or just shy of it, around 2,525 to avoid getting caught in the resistance zone. Stop-Loss Strategy: To protect from a breakdown, you'd want to place a tight stop-loss just below the wedge, around 2,490. The Maverick thrives on action, but with controlled risk in case the price falls. Rabbit Approach: The Rabbit focuses on digging deeper into the structure, ensuring everything is aligned before taking a position. Here’s how the analytical approach works: Rising Wedge and Bearish Implications: The rising wedge pattern you're trading within is typically a bearish signal. This pattern suggests a potential breakdown, especially if the price doesn't hold the current support level. The Rabbit would want to see multiple confirmations that buyers are stepping in before entering long. Waiting for a strong reaction or a higher low at the wedge boundary (around 2,490-2,495) would be ideal before considering a position. Caution: Be wary of a break below the wedge, which could signal a bearish continuation back down to 2,470.907 or even lower. Consolidation Zones for Reentry: The Rabbit would focus on the previous consolidation zone around 2,470.907, treating this as a potential re-entry point for longs if the price breaks the wedge support. That zone has shown strong buying pressure, making it a safer play. Plan: If price revisits this zone with a strong bounce, it would offer a much lower-risk buy with a greater reward potential, aligning with the Rabbit’s need for precision. Combined Strategy: Aggressive Entry (Maverick): Buy at the current level (2,498), targeting a bounce back toward 2,525 or higher, with a stop-loss under the wedge (2,490). This setup is more for short-term profits before any wedge breakdown occurs. Conservative Entry (Rabbit): Wait for confirmation at 2,498 or for a break below to re-enter near the 2,470 support. Ensure that the wedge pattern doesn’t break down entirely before committing to a long trade. Conclusion: For the Maverick: Act now if you see this as a low-risk bounce trade, aiming for quick profits near the ATH, but with the understanding that momentum could shift fast. For the Rabbit: Be patient, observe price action at key levels, and avoid chasing a move that doesn't align with the bigger structure. Waiting for a retest of 2,470 or a clear bounce is your higher-probability play. Whichever archetype you're channeling, stay sharp, and don’t let emotions get in the way!
OANDA:XAUUSD
by MommaPreneur
EUR/USD 4H Analysis: Rising Wedge and Emerging Triangle PatternOverview: EUR/USD on the 4-hour chart has experienced a bearish breakdown from a previously formed rising wedge pattern, followed by a retest of the broken support now acting as resistance. The price action is currently consolidating into a new triangle pattern, suggesting potential indecision or a continuation move. Technical Indicators: - Trend : After breaking down from the rising wedge, EUR/USD briefly retested the broken trendline as resistance. The price action is now consolidating into a triangle pattern, indicating a potential continuation of the bearish trend or neutral consolidation before the next move. - RSI (Relative Strength Index) : RSI is near neutral levels, reflecting the current consolidation phase. - Volume : Volume has decreased during the formation of the triangle, which is typical in consolidation phases and may precede a breakout. Key Levels : - Resistance : The top of the triangle pattern is at 1.1195, which is also the highest point of the previous rising wedge pattern. - Support : The lowest point of the triangle pattern is at 1.0956. Potential Scenarios : 1. Bearish Continuation : A break below the lower boundary of the triangle at 1.0956 would suggest a continuation of the bearish trend initiated by the rising wedge breakdown. We are more inclined towards this scenario given the prior breakdown and retest behavior. - Entry : Consider short positions on a confirmed break below the triangle support at 1.0956. Alternatively, it is possible to enter now at 1.1085, given the bearish inclination and current price level. - Stop Loss : Place a stop loss above the recent highs within the triangle or near the triangle's upper boundary. - Take Profit : Target lower support levels at 1.09500 and 1.08000, which are indicated on the chart, aligning with prior swing lows or significant Fibonacci levels. 2. Bullish Breakout : Although the prevailing trend and our inclination are bearish, a breakout above the triangle’s resistance at 1.1195, which aligns with the highest point of the rising wedge, could signal a potential reversal or correction to the upside. - Entry : Look for long entries on a breakout above the triangle resistance with strong momentum. - Stop Loss : Set stops below the lower boundary of the triangle or recent lows. - Take Profit : The initial targets for a bullish scenario can be set at 1.1190 and 1.1240, aligning with previous resistance zones or Fibonacci retracement levels. Market Context: Upcoming economic events, specifically the release of the Consumer Price Index (CPI), Producer Price Index (PPI), and unemployment claims, could significantly impact the USD. It will be crucial to observe how EUR/USD reacts at the time of these releases, as they could act as catalysts for a breakout from the current triangle pattern or shift the market sentiment in either direction. Conclusion: EUR/USD is at a critical juncture, consolidating in a triangle pattern after the breakdown and retest of a rising wedge. While a breakout in either direction is possible, we are more inclined towards the bearish scenario given the prior breakdown and retest. The trading levels for the bearish scenario, including supports at 1.09500 and 1.08000, are indicated on the chart. It is also possible to enter a short position now at 1.1085, given the current price and bearish setup. Bullish targets are set at 1.1190 and 1.1240, with the triangle's top at 1.1195 aligning with the highest point of the rising wedge, and the lowest point of the triangle at 1.0956. Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Past performance is not indicative of future results. Always conduct your own research or consult with a professional before making trading decisions. Thank you for following our analysis! We hope this insight helps with your trading decisions. — RisingStarFrX
Short
by RisingStarFrX
BTC at some support levelsLets look at BTC. Some people have been saying that its getting ready to take off again, so I wanted to do my own analysis. I've got three indicators I'm using here. - Wedges/channels (the thin green lines) - Fibs - the gold colored fib levels - Wick Strength - the oscilalator at the bottom First, Wedges. We can see that price is at the bottom of a wedge/channel. Its been pretty consistent on the plotted wedges that breakouts have been significant. However with the support of the Wick Strength as well as support of the 0.382 fib level, it looks like we might return to the top of the channel rather than crashing through the bottom. Next, Fibs. Fibonacci are one of my favorite technicals and popular for a reason. Look at all the times price has bounced right off a near-exact fib level! Recently BTC hit the 0.5 with a STRONG support. And here we are again at the 0.382. Looking left on this line we can see multiple wax and wick bottoms rejecting at this price point in recent months. Lastly, Wick Strength. I'm still learning this one as its new, but here's what I've seen. In up markets, Wick Strength is low, because there is constant downward pressure from all the bears. So the top wicks are long, and the bottom wick are short. (Indicating that bulls are stronger since wax is bullish, but bears still have a voice and top wicks are longer than bottom). In down markets, its the opposite, and the Wick Score goes up due to longer bottom wicks by the bulls. Here, Wick Strength is relatively high actually, and we're in a flag price action pattern. Looking like Wick Strength will come down as the market takes off bullish again. Just at thought! We'll see what happens. What do you think?
COINBASE:BTCUSDLong
by marketscripters
BITCOIN BULLISH WEDGE @80K$BITSTAMP:BTCUSD. Should we be worried or be exited about the price action of #Bitcoin. Looking at the price action of BTC we can see that there is a lot going on in the market and some traders are really worried about the next move for Bitcoin. So looking at the current price action, we can clearly see that Bitcoin is forming a falling wedge pattern which is a bullish continuation patten, also if we look at the current price level of 53k, we can see that price has been experiencing some rejections at this area. If Bitcoin should bounce off from this price zone, we should see a retest of the 60k area but if fails and breaks below we should see a proper rejection from the 50k area. Now the question is should we be worried about the 40k which stands as demand zone which we could definitely see Bitcoin retest that area if it fails to hold support around the 50k level. looking at the price action and the fundamental activities like CPI, UNEMPLOYMENT CLAIM and many more, we should probably expect some huge volatility which either push the price down to 50k or up to 60k levels respectfully. My suggestion to any who want to invest in Bitcoin or any other Cryptocurrency is for them to wait for proper rejection and support for Bitcoin. PLEASE DO ME A FAVOUR BY # FOLLOW FOR MORE WEEKLY MARKET UPDATES, # LIKE AND POST THE POST, IF YOU LIKE WHAT I DO YOU CAN SHARE THE POST. THANK YOU AND HAVE A LOVELY TRADING WEEK.
Long
by Jahson23
1
HelenP. I Bitcoin will make small move up and then continue fallHi folks today I'm prepared for you Bitcoin analytics. If we look at the chart we can see how the price rose to resistance 2, which coincided with the resistance zone and broke this level. Then it rose a little higher than the resistance zone and some time traded near until it reached the trend line and then BTC started to decline. In a short time price declined to resistance 1, which coincided with one more resistance zone, breaking resistance 2. As well, the price started to trades inside the wedge, where it rebounded from resistance 1 and tried to grow, but failed and soon dropped back. Some time later BTC fell to the resistance zone and at once rebounded to the trend line, which is the resistance line of the wedge also, and then declined to the support line of the wedge, breaking resistance 1. Recently price bounced up to this level and tried to break it, but failed and now trades below. In my mind, BTCUSDT will make a small movement up and then continue to decline to support line of the wedge. Therefore I set my goal at 54800 points. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
15
QUICK/USDT: READY FOR AN ATH!!Hey everyone! If you're enjoying this analysis, a thumbs up and follow would be greatly appreciated! QUICK looks good here. It breaks out from the falling wedge-like structure in the daily time frame and is currently, retesting the wedge. Buy some here and add more in the dip. Entry range:- CMP and add more up to $0.04 Target:- 100-150% SL:- $0.035 What are your thoughts on QUICK's current price action? Do you see a bullish pattern? Share your analysis in the comments below!
Long
by CoreCrypto1
2
Will META's bullish case continue with these headwinds? NASDAQ:META Meta's Resilience: A Bullish Case Amidst Market Turmoil While many tech giants face headwinds, Meta has been a standout performer. Despite the looming threat of a recession, I remain optimistic about the company's long-term prospects. Meta's AI-driven ad platform has proven to be remarkably sticky, even in challenging economic conditions. As businesses of all sizes continue to rely on targeted advertising, Meta's revenue stream is well-positioned for continued growth. Technically, Meta's chart is starting to exhibit signs of a potential pullback. A rising wedge formation suggests that a short-term correction may be on the horizon. However, I believe that strong support levels at $443, $412, and $384 should provide ample opportunity for investors to accumulate shares at attractive prices. If the market takes a significant downturn, I'm confident that Meta's underlying fundamentals will support a recovery. In such a scenario, I would view a dip below $275 as a compelling buying opportunity. Disclaimer: This is not financial advice. Always consult with a financial advisor before making investment decisions.
NASDAQ:METAShort
by Average_Joe_Options
2
Bitcoin Approaching Critical Support: Prepare for a Big MoveBitcoin is entering a decisive phase this September, with a Descending Broadening Wedge pattern forming on both the weekly and daily charts. This pattern typically signals potential volatility, and we are now approaching the descending support trendline, which also aligns with the wick from the sharp price dump on August 5th. This region, around 48K, is likely to be tested in the coming days as the market seeks to sweep liquidity. Key Support Zones to Watch: Crucial Support Zone 1: The first line of defense. If Bitcoin holds here, we could start seeing signs of bullish momentum returning. Crucial Support Zone 2: A deeper level of support. Breaking below this zone could lead to a more extended bearish trend. In the event that these levels are broken and confirmation bearish candles start forming, we could see Bitcoin testing 42K, 40K, and even 36K in the weeks ahead. However, if Bitcoin holds these zones and begins to print higher highs (HH) and higher lows (HL), it would be an early sign that the downtrend might be over. Also an important element in this setup is the 100-day EMA, which aligns perfectly with Crucial Support Zone 2. This adds a layer of confidence that the price may find strong support here. The confluence of the 100-day EMA with this key support level suggests that a touch of this zone could trigger the next major move, potentially kickstarting a rally. Strategy for Traders: Swing Traders/Spot Traders: Pay close attention to the support zones, as these levels could present excellent buying opportunities. A bounce from these areas might indicate the start of a new rally, so it’s time to prepare and fill your bags. Scalpers: Be mindful of the resistance zones. The price may spike slightly before retesting lower levels, providing potential shorting opportunities. Watch closely for a "soft" or "hard" landing around 50K-48K. Caution: Bull Trap Alert If Bitcoin encounters a pump in the near term, be cautious about falling into a bull trap. All signs currently point to a retest of the 50K and 48K zones as highly probable, so don’t get caught up in premature optimism.
by MadeByAK
AI/USDT LONG SCALP SETUP!!Hey everyone! If you're enjoying this analysis, a thumbs up and follow would be greatly appreciated! AI looks good here. Breaking out from the falling wedge-like structure and a retest is also done. Long some here and add more in the dip. Entry range:- $0.344-$0.354 Targets:- $0.372/$0.394/$0.419/$0.448 SL:- $0.325 Lev:- Use low leverage (Max 5x) What are your thoughts on AI's current price action? Do you see a bullish pattern? Share your analysis in the comments below!
Long
by CoreCrypto1
ALGO/USDT Secondary trend. Wedge is a trend. 11 2023Logarithm. Time frame 3 days. Linear price graph for clarity of this beauty. The entire secondary trend is a falling wedge , a decline in price from the highs to date for 718 days (24 months, or almost 2 years). Volatility has decreased to a minimum, the price is conditionally squeezed, in the near future there may be an excess of supply/demand and a breakthrough of this long-term formation will occur. A pump impulse for a breakthrough due to super “dead faith” and rather low liquidity (price slippage) can be significant. Decline from the low (liquidity) -96.66%. We are in the zone of so-called capitulation (on the cryptocurrency itself). Also, the chart shows conditionally maximum average (from the average price) potential targets of market phases: 1) “participation” (development of the bullish trend to the reset zone, i.e. distribution). 2) Distribution. Unfair market competition by large market participants. Prices now, it is about 0.1$, which is the price of “large capital” that “invested” in this crypto project. But, they sold out long ago on the first listings..... After all, the crowd was “sold” at the ICO at an average of about 2.5$ per coin, or even more expensive by the method of divorce with the Dutch auction. That is roughly speaking it is +25X (+2500%). Dutch auction (in the classical sense) is a type of bidding, at the beginning of which the highest price for the lot is announced, which gradually decreases; the participant who was the first to stop the price decrease becomes the winner. Bullish cycle 2020-2021. Then after a dump to the 2020-2021 set zone (0.25$ average) in the bull cycle managed to pump and form a distribution (reset) zone of more than +1000%. From that reset zone and formed this truly huge downward wedge, just like on EOS. So, this cryptocurrency "changed speculative hands" many times (huge dump/dump volatility). Anyone could make money, but not the “hamster” level. Perhaps there will be one last run of significant price pumping towards the end of 2024 -2025. Candlestick chart of the wedge zone for comparison. Local trend. ALGO/USDT Local trend. Wedge breakout zone . 5 11 2023 The main trend. The entire trading history. Accumulation/distribution zones. Time frame 1 week. ALGO/USDT Major trend. Cycles. 07 2023
Long
by SpartaBTC
18