Wedge

The Wedge pattern can either be a continuation pattern or a reversal pattern, depending on the type of wedge and the preceding trend. There are 2 types of wedges indicating price is in consolidation. The first is rising wedges where price is contained by 2 ascending trend lines that converge because the lower trend line is steeper than the upper trend line. In other words: the lows are climbing faster than the highs. These wedges tend to break downwards. The second is Falling wedges where price is contained by 2 descending trend lines that converge because the upper trend line is steeper than the lower trend line. In other words: the highs are falling faster than the lows. These wedges tend to break upwards.

Conservative traders may look for additional confirmation of price continuing in the direction of the breakout. The target can be estimated through the technique of measuring the height of the back of the wedge and extending it in the direction of the breakout. A common stop level is just outside the wedge on the opposite side of the breakout.
fluffyunicorn fluffyunicorn PRO XRPBTC, 45,
XRPBTC: XRP just keeps on disappointing me T.T
287 12 5
XRPBTC, 45
XRP just keeps on disappointing me T.T

Tried to make a chart on XRP and it went below the wedge that I made. Also the CCI is currently below -70 and the EMA crossed below Moving Average so i think it's not a good buy right now. *I'm new to charting and making TA so I don't know if my analysis is right.

IvanLabrie IvanLabrie PRO URA, D, Long ,
URA: URA: Uranium ETF bottomed after a terminal pattern completion?
140 0 7
URA, D Long
URA: Uranium ETF bottomed after a terminal pattern completion?

It's possible the Uranium ETF $URA has bottomed here. If this is the case, we can expect a rapid rally as depicted on chart. Odds are low, but risk/reward is significant if this trade works well. You can enter with a tight stop under the lows, or risk 3x the ATR value down from entry. Good luck! Ivan Labrie.

bgj101 bgj101 PRO DXY, 240, Long ,
DXY: Dollar Index Weekly Outlook 26-30 Jun
42 1 3
DXY, 240 Long
Dollar Index Weekly Outlook 26-30 Jun

Dollar is overall BULLISH. Nice bounce last week, now making its way north. I expecting price to leave this expanding wedge pattern and test the daily pattern(orange). Look for Dollar strength to continue. I've been down for a month...lets get back to riding these waves. Chart updates and trade setups will be updated as needed below....so stay ...

ingjesus ingjesus DAX, W,
DAX: DAX PERFORMANCE BULLISH FALLING WEDGE
47 0 2
DAX, W
DAX PERFORMANCE BULLISH FALLING WEDGE

DAX performance bullish falling wedge.

dagonzalezz.1107 dagonzalezz.1107 MMM, 240, Short ,
MMM: SHORT.- WEDGE
12 0 2
MMM, 240 Short
SHORT.- WEDGE

It has been forming a long wedge pattern

danlogo70 danlogo70 EURJPY, D,
EURJPY: FALLING WEDGE EXAMPLE
11 0 1
EURJPY, D
FALLING WEDGE EXAMPLE

DESCRIBE A FALLING WEDGE

anavalen2 anavalen2 EURGBP, 45,
EURGBP: Berish wedge in EUR/GBP (45min chart)
8 0 3
EURGBP, 45
Berish wedge in EUR/GBP (45min chart)

We can see a falling wedge

RowilSilva RowilSilva PDI, D, Short ,
PDI: PCQ bearish wedge and downtrend ( SHORT: 29, 07 take profit)
3 0 2
PDI, D Short
PCQ bearish wedge and downtrend ( SHORT: 29, 07 take profit)

PCQ bearish wedge and downtrend ( SHORT: 29, 07 take profit)

nightfoxFX nightfoxFX GBPAUD, 60, Short ,
GBPAUD: GBPAUD look for short
18 0 4
GBPAUD, 60 Short
GBPAUD look for short

Dear traders, we have rising wedge pattern on H1 chart with RSI and MACD divergenc. Furthermore I believe this pair will be bearish mostly next week. Trade based on your own believes and due diligence. Wish nice weekend to all traders.

alkhal3gy alkhal3gy EURUSD, 240,
EURUSD: falling wedge formation
45 0 6
EURUSD, 240
falling wedge formation

FX_IDC:EURUSD

brad.rinker.58 brad.rinker.58 QQQ, 30, Long ,
QQQ: QQQ 30m long opportunity.
14 0 6
QQQ, 30 Long
QQQ 30m long opportunity.

QQQ is consolidating after it's plunge recently, and we see a higher low coupled with the test (and break) of the channel high. I believe traders will try to push price back to the supply zone in red. Yesterday's breakout was met with selling, pushing price back into range. This presents an opportunity for buy on the dip next time the upward blue trend line is ...

Robinhod Robinhod BTSBTC, 240,
BTSBTC: BTSBTC Falling wedge
265 3 4
BTSBTC, 240
BTSBTC Falling wedge

Falling wedge BTSBTC

ShelbyEdmonds ShelbyEdmonds ETHUSD, 180,
ETHUSD: Ethereum Trade Set Up
176 0 5
ETHUSD, 180
Ethereum Trade Set Up

This wedge is traded the same as in other markets. We've seen massive runs in BitCoin and the associated AltCoins that follow it's price. This leaves us in an area of uncertainty. We will be looking for a clear break in either direction before deciding on a bias. Upon break and retest an opportunity may present itself. Fundamentally, Ethereum is a ...

g4av1n g4av1n PRO EURGBP, 240, Short ,
EURGBP: Rising Wedge for Downward Momentum
16 0 3
EURGBP, 240 Short
Rising Wedge for Downward Momentum

There's a solid trendline dating back to November of 2015 keeping the EUR/GBP bullish- it's broken it before and if it does again, expect a decent size break-out. Regardless, if it breaks the wedge in the bearish direction, there should be downward momentum for around 200 pips profit. Good luck, mates!

JHarbour JHarbour EURAUD, 30, Long ,
EURAUD: Could this turn around?
29 0 3
EURAUD, 30 Long
Could this turn around?

Downward wedge, not sure as its already broken support.keeping an eye on for a near future bull move

JHarbour JHarbour USDCAD, 30, Long ,
USDCAD: Down wedge
52 0 3
USDCAD, 30 Long
Down wedge

A quick potential bull position

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