Wedge Pattern

The Wedge pattern can be either a continuation pattern or a reversal pattern, depending on the type of wedge and preceding trend. There are 2 types of wedges indicating price is in consolidation. 1) 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 climb faster than the highs. These wedges tend to break downwards. 2) 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 fall faster than the lows. These wedges tend to break upwards.

Conservative traders look for additional confirmation of price continuing in the direction of the breakout. The target can be estimated by 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.
tinypotatodotca tinypotatodotca GBPUSD, 240, Short , 16 hours ago
GBPUSD: IF breaks down can go short
56 2 4
GBPUSD, 240 Short
IF breaks down can go short

GU stuck in this wedge shape. IF it breaks down below, it may be an opportunity to get short

Mr.Bull Mr.Bull GBPUSD, 240, 18 hours ago
GBPUSD: gu wedge
15 1 3
GBPUSD, 240
gu wedge

could go either way

magbrr magbrr AUDJPY, 240, Long , 12 hours ago
AUDJPY: AUDJPY Long. MACD bearish divergence complete
18 0 6
AUDJPY, 240 Long
AUDJPY Long. MACD bearish divergence complete

https://www.tradingview.com/chart/kbiqle0U/ Watch out for break out in the AUDJPY pair per the chart shown

ZainSaeed ZainSaeed USDJPY, 240, an hour ago
USDJPY: USDJPY support for BUY
51 0 4
USDJPY, 240
USDJPY support for BUY

here we are on a good support if we see the previous zone we can see the same thing that is happen before the drop so i am looking form buy between 112.70 to 112.40 with the sl of 100 pips for target 200 as a first target and 300+ pips for the second target if we see a good price action signal here on support and confirmation also needed form price action on h4 ...

CompassFTA CompassFTA AUDUSD, 60, Short , 3 hours ago
AUDUSD: Aussie uptrend
7 0 4
AUDUSD, 60 Short
Aussie uptrend

Aussie is a short term uptrend since February. However it may just be a reversal rising wedge. What do you think

NeoSalvo NeoSalvo PRO GBPJPY, 60, 3 hours ago
GBPJPY: A Wedgy Wedge-GBPJPY
9 0 3
GBPJPY, 60
A Wedgy Wedge-GBPJPY

Well this could get exciting. A wedge within a wedge. I'm watching for a breakout either way!

mtsport mtsport CADJPY, 60, Short , 13 hours ago
CADJPY: Rising Wedge
8 0 3
CADJPY, 60 Short
Rising Wedge

Short Stop 86.00, Stop 86.29, Target 85.32, R/R = 2.44, Move to B/E at 0.3820

AlexKondratev AlexKondratev CMI, D, Short , 9 hours ago
CMI: SHORT CMI WITH NICE KICKER FROM THE RESISTANCE
6 0 3
CMI, D Short
SHORT CMI WITH NICE KICKER FROM THE RESISTANCE

ENTER 151.72 STOP 154.84 TARGET 142.09 The trade is in the direction of the trend: descending impulse with potential wedge pattern. It is also supported with RSI14 and Stochastic Bearish Crossover. I have 2 different target scenario for your convenience. Do you like it?

Jakk Daws Jakk Daws F, D, Long , 7 hours ago
F: Ford - looking good (Long)
20 0 2
F, D Long
Ford - looking good (Long)

Purely technical play - simple wedge you'll see with downside risk below trend line. Also sitting under 50 WEEK EMA. Its above 10,50,100,200 day EMA -- just needs to get through top side resistance.

golden88 golden88 XAUUSD, 240, Short , 36 minutes ago
XAUUSD: shorting soon
25 0 1
XAUUSD, 240 Short
shorting soon

looking to short at top of the wedge 1265-1268 soon

austin.bowen.779 austin.bowen.779 PTEN, D, Long , a day ago
PTEN: wedge
5 0 3
PTEN, D Long
wedge

long to 28.80

wolfstreetswinger wolfstreetswinger EURUSD, 60, Long , a day ago
EURUSD: EURUSD Watching for breakup
325 8 12
EURUSD, 60 Long
EURUSD Watching for breakup

EU Could have a bullish break soon from the wedge

purpurato59 purpurato59 PRO EURAUD, D, Long , a day ago
EURAUD: Hammer and divergence
94 0 8
EURAUD, D Long
Hammer and divergence

After some heavy battering on this pair, bears seem to have found a bottom and action is now bound to the upside. The hammer and the RSI divergence are good signs that this is ripe for a long. I've been watching this wedge for some time now, please watch related ideas. Thanks for your likes and comments.

TipTVFinance TipTVFinance PRO EURJPY, D, a day ago
EURJPY: EUR/JPY - Falling wedge in an uptrend
31 0 6
EURJPY, D
EUR/JPY - Falling wedge in an uptrend

nice rebound from wedge support today. 100-DMA is rising and the daily close above the same would keep hopes alive for a bullish break.

ashfaq.hussain.duggal ashfaq.hussain.duggal AUDNZD, D, Long , a day ago
AUDNZD: Micro & Macro :AUDNZD foreshadows ultimate trend reversal
22 0 6
AUDNZD, D Long
Micro & Macro :AUDNZD foreshadows ultimate trend reversal

Looking back @ Macro Levels:- Assies remained on a rollercoaster ride against its kiwi counterpart since 2011. Following later pair remained sideways since 2014 (consolidation phase), although in a fair enough trading range of a 1000 pips between 1.1300 - 1.0275. Fast Forward :- Recently, since Nov 2016 (as trump-nomics starts) pair was in triangle/wedge ...

MattWalz MattWalz AUDJPY, 60, Short , a day ago
AUDJPY: AUDJPY wedge breakout
51 2 10
AUDJPY, 60 Short
AUDJPY wedge breakout

Price is breaking out to the downside. Wait for a confirmed candle close below the TL, retest and rejection before entering short.

tebriz tebriz GBPJPY, 240, Long , a day ago
GBPJPY: GBPJPY Wait for breakout
141 1 9
GBPJPY, 240 Long
GBPJPY Wait for breakout

FX:GBPJPY

Emilio1 Emilio1 CADCHF, W, Long , a day ago
CADCHF: cad chf
8 1 7
CADCHF, W Long
cad chf

on weekly looking to break out. pending buy order and buy rest of position on retest of ascending wedge support

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