A rising wedge is a bearish stock pattern that begins wide at the bottom and contracts as trading range narrows and the prices move higher. It is almost always bearish but can be a long term pattern. The pattern is not valid until bottom trendline is broken. Unlike triangles, bother lines slope up and converge, or narrow.
Rising wedges interfere with supply and demand due to lack of healthy pull backs. A chart is just an Xray of supply and demand ..There is a falling wedge right now on the 4 hour chart. Looking at lower time frame charts can help you pinpoint pull backs. The hourly is also a good one, I look for gaps that do not appear on daily.
TNDM broke down from a symmetrical triangle and also formed a possible H&S pattern
Falling wedges are bullish , but only when price breaks up and over upper trendline. Falling wedges can go on a long time though
A lot of red so selling pressure seems like it will end soon.
When you set Bollinger bands at 2 and -2 with an 80 MA verses a 20 MA, and price breaks the bottom BB, then I figure there is heavy selling pressure
Often this can be a good trade when you feel like selling pressure is over..we never know for sure but there is a lot of red..Price will often Snap back to middle BB at least
This type of chart causes a lot of stock holders psychic pain, and one by one they sell as the pain becomes unbearable )o:
I still see some Hanger Ons on stockwitz..most are bearish on tndm tho...but when selling is almost complete, there is no one left to sell. So I buy.
Stockwitz is a good place to get sentiment on a stock. Better to read a lot of "Down she goes, Im out" "what a loser" "Bear stock of the decade" etc to know selling pressure is getting down to the nitty gritty.
Then you jump in and no one left to sell.
The 50 MA is pointing down for now. I am watching
Rising wedges interfere with supply and demand due to lack of healthy pull backs. A chart is just an Xray of supply and demand ..There is a falling wedge right now on the 4 hour chart. Looking at lower time frame charts can help you pinpoint pull backs. The hourly is also a good one, I look for gaps that do not appear on daily.
TNDM broke down from a symmetrical triangle and also formed a possible H&S pattern
Falling wedges are bullish , but only when price breaks up and over upper trendline. Falling wedges can go on a long time though
A lot of red so selling pressure seems like it will end soon.
When you set Bollinger bands at 2 and -2 with an 80 MA verses a 20 MA, and price breaks the bottom BB, then I figure there is heavy selling pressure
Often this can be a good trade when you feel like selling pressure is over..we never know for sure but there is a lot of red..Price will often Snap back to middle BB at least
This type of chart causes a lot of stock holders psychic pain, and one by one they sell as the pain becomes unbearable )o:
I still see some Hanger Ons on stockwitz..most are bearish on tndm tho...but when selling is almost complete, there is no one left to sell. So I buy.
Stockwitz is a good place to get sentiment on a stock. Better to read a lot of "Down she goes, Im out" "what a loser" "Bear stock of the decade" etc to know selling pressure is getting down to the nitty gritty.
Then you jump in and no one left to sell.
The 50 MA is pointing down for now. I am watching