Broadening wedge, with a target price calculated as 60% its broadest point subtracted from the area of the pattern breakdown, gives Target Price of $16.70. A secondary pattern that following the upward trendline (in black) also has a target price of $16.70. I would pre position with a buy at $16.75 and keep a stop loss below $16.30.
BTC is reaching a key point of support and Fibonacci level. A significant bounce would be expected at the end of Wave C and Wave 5 anywhere between $9 - $9.1K (1.272%) After that counter-rally it will be time to re-evaluate to see if the major correction is over, or if this is just a breather before further down side. ($7K-8K range) A 40% total correction is down...
So this is more about finding a way to write all my calls and ideas and be accountable.
But I see a broadening wedge on Raytheon , I would hope RTH, would go above the top line and use that as support,
The current geopolitical environment with Iran , is one of the reasons why I think RTH, may be a semi-ok play
I feel more can happen that would make a RTH, bull...
The ascending broadening wedge is considered to be a reversal pattern, and is bearish in nature. Though the pattern is typically a signal of reversal, continuation of the uptrend is still possible.
When present as a continuation pattern, the wedge will still slope to the upside, but the up-slope will typically be found as a pullback within a downtrend. When...
During the last analysis, we accurately obtained the price objective of the falling wedge, which was 220, it took a lot of time for the move to develop, and once the price objective was hit, there was a pretty immediate drop to 155. It was mentioned in my most recent BTC analysis that the descending triangle was most likely to break out within days, and that if it...
In this illustration, we observe how various micro patterns can translate into a longer-term macro pattern. With the case of PG, for prevailing micro patterns have progressed in what appears to be a bullish rising channel which has recently broken through. As the longer-term trend unfolds, the micro patterns will form in series of periods of high volatility and...
Neutral. Hold. Going-Long.
Facebook stock price has for the better of eight years remained trading within a highly respected bullish rising channel. Similar to other major securities or blue chips currently on the S&P 500 or the Dow Jones,...
Neutral Hold- Going Long.
Bull controlled, increasing volatility.
Macro Broadening Wedge
Visa has seen steadily rising bullish accumulation since first breaking out in December 2012. Since then, the security has experienced a change in price of...
There appears to be a bull flag forming on the $INS chart. If we can close above the upper resistance, i anticipate us to see a 20% increase at least. This is a hot coin right now and i think this chart looks healthy. This is all coming after $INS turned support into resistance. If the flag breaks down, I would anticipate price to touch the bottom of the wedge. As...
Last month I saw a bearish gartley harmonic developing that probably ended closer to a bearish bat harmonic.
The long was successful and so far the short has been too (link below)
I had seen no potential for failure in this short until 2 days ago when we started to develop a broadening wedge. This analysis is neutral not long until a 4 hour close confirms this...
During the day a new pattern, that is considered bearish has come into play and possibly marking a high, a diamond-top. Also taking into consideration, that we have developed a bearish ascending wedge, it becomes more likely that we have seen a local high now. Possible targets for this are not $8k .... those are $10.7 and $10k, where we would have to look at the...
We hava two chart, Broardening wedge and Ascending wedge.
The diamond pattern is a rare pattern but when it occurs you can expect price reversal on the horizon. This is usually formed at the top end of the rally and as the name suggests the...
This big surge over 10k is starting to form a broadening topping pattern that suggests that once the support is broken BTC will either correct downwards to test the 10k mark once more, or at the very least start to consolidate for a bit.
That being said we are still inside the pattern and we could have another retest of that resistance at about 11k.
What do you...
Poor bulls.. I feel so bad for anybody who tried to catch these breakouts and waited for an actually substantial dead cat bounce with any kind of high leverage.. over and over again bitcoin has conformed to a broadening falling wedge that calls for a breakout, but instead of giving the bulls any kind of substantial dead cat bounce to trade, bitcoin was so bearish...