The long upper wick of the candle is a sign of price rejection. The first bearish pin bar on November 22, followed by another higher high long upper wick candle on December 1, is a sign that the trend is about to bend. Confirming the two sign is followed by another higher high with Bearish Engulfing Candle, this candle pattern could be the confirmation that the...
Welcome to a new analysis after a longer pause... An interesting one. - Broadening Top with a fake Breakout at Nr.6 -fib retracement at50% - monthly chart: currently in heavy resistance zone! - RSI approves moves
NSE:ULTRACEMCO is in process of forming a classical 5 point broadening top pattern. This is typical of a top and prices take a fall once this formation is complete. If many stock form this pattern in a given market then that is a forewarning of a potential bear market. For this patten to come in play, prices should go down and break the lower trend line but if...
BEL has just broken its broadening to the upside and is currently in a pullback. This can be a good entry point for a long. Signals Group in BIO ! ALWAYS USE A SL !
Here we see a right angle broadening formation, with the accumulation line on the bottom. What appears to be an island reversal pattern appeared in the daily chart, marked by the yellow rectangle, which is typical of congestion patterns like this. Broadening formations are typical of late stage bull markets and are accompanied by irregular volume throughout. A...
What Is a Broadening Formation? A broadening formation is a price chart pattern identified by technical analysts. It is characterized by increasing price volatility and diagrammed as two diverging trend lines, one rising and one falling. It usually occurs after a significant rise, or fall, in the action of security prices. It is identified on a chart by a series...
XTZ on larger time frame is still focused on completing the broadening wedge, rather than dipping out. In this monday dip every coin seem to break out negatively on the pattern they were busy with, but not XTZ. XTZ went not even out of the uptrend range within the broadening wedge as you can see. Very promising!
Hello Traders, Sushi looks to be forming a Broadening Top pattern with an inverse Head & Shoulders pattern. Sushi is currently down about 5% on the 24 hr time-frame. Still hasn't gotten its time to shine just yet this Bull Run. I expect to see some big things from Sushi over the next month. Good luck!
#ZN1! #10YearTNote #Weekly #CBOT - I took a deep look into the 10-year Treasury Note, futures commodity. The chart above is weekly. - In Elliott Wave Theory perspective, an assumption has been made that the bullish wave starting from the swing low at 117’13’5 to the swing high at 140’20’0 as am impulsive 5-3-5-3-5 zig zag wave structure. - With that said, I am...
Broadening wedge retest is a very BULLISH FORMATION. COnfluences on ON chian data and other indicators. Trade safe.
Bearish broadening formation! Major support = 20k !
BTC is either going to hit to top of the broadening bottom or it will breakout downwards leading to a drop in price. This is not a financial advice and it should be regarded as such. DYOR
The market is currently bullish, and it continues to be bullish until the market says otherwise. This idea is not to try to be a fortune teller, telling the market what to do, but a possible scenario that could happen so if the market is deciding to act on it, we will have it in our mind and follow its bidding to the downside. The trend is your friend, so...
1st tgt 710 2nd tgt 718 3rd tgt possible 720+ Short, or wait for re test. Re long at retest 695-705. next tgt, 725, 734, 762 Need hard push through 777 to possibly return to 800 pattern no longer valid below 650 short tgts, 638, 633, 625, 618, 602
COMP broadening formation. The red trendline indicated a resistance level and the two green trendlines indicate the support level rang. If this is respected expect to see a $400 COMP soon.
This is my analysis of the market, specifically the S&P 500. Indicators and fundamentals that point to a massive drop. The formation identified is called a Broadening Formation (aka Megaphone Formation) Here's the link to better explain the formation in detail - www.investopedia.com As stated in the video, if you have a difference of a opinion, I would love to...
Oil is currently in a broadening wedge, unless it manages to break out of the wedge it will eventually have to come back down. I put emphasis on eventually it can stay at that upper trendline for a while. Wait for confirmation before entering any shorts. First look for divergences in your preferred indicators then, wait for a MA crossover so you don't get...