Falling wedge pattern (Reversal) Target = Breakout + Base of Wedge = 1.1485
GBP JPY pair is in a falling wedge pattern so buying could be a very good option after breakout. Also MACD divergence supports it but keep in mind that it might consolidate a few more days so wait for price action to show the way.
Hi there! Falling Wedge Bullish pattern was detected on daily charts. Good to buy breakout for 1.1570. Best!
Ive looked at deeper stuff and can confirm that eth is still in a sliding mode along the 3x1 and 3x0 arcs. At this time, bears rolled it in a halt between 2x1 and 2x0 arcs, could be very temporary before bulls are headed off, and then more down. The undeniable fact is, 1x1 angle and 2x0 arc both limit the room for the upside to 0.022 ~ 0.0225 which threatens the...
This has been on our watch for 2 months watching and waiting for clear decelleration + technical confluence to look to get lon, and this weeks finish looks to have completed that, breaking out of the Bullish wedge upon many key confluent areas as highlighted on the chart. This all stacked together looks like a excellent Reward / Risk potential trade coming up in...
Three scenarios packed in one chart. Expanding triangle in arsenic, falling wedge in red and triple zig-zag in black. Good to go.
An speculative idea of NYSE:GD We can see how the volume have a big drop down starting the week, meaby can be a hammer at weekly end, or continue the drop. The RSI (price) have space for a big down and the VSA_CCI is recuperating or simply will be down a "little". The Heikin Ashi of the volume weighted price is forming a descending wedge and is easy the route to...
USOIL is in a correction for the last month retrace. It seems that wave A will be finished soon. I am looking forward for the wave B up and the following wave C down. Good luck for everyone!
Potential long position if we see price break and retest 2.15 resistance and descending trend-line. Falling wedge. Weekly ABCD Looking for bullish price action after the retest. Price has been ranging for the last month or so. Awaiting further bullish confluences before any long position.
WTI didn't violate the 2009 low and made a very bullish print. Not to mention the breakout of the falling wedge!
I would buy this falling wedge now with the profit targets indicated by the green lines.
What's really more important about this chart is XAUUSD broke up the $1,200 level, an important historical level. It's still on bullish trend which might take it to $1,300 before it retraces to test $1,200.
Falling wedge with 5 hit points, approaching a 6th and final one for a strong breakout. Excellent previous structure support (indicated by the horizontal black line) asking for a rebound into the upside. I think that this falling wedge will accentuate the rebound off the support line. Major bullish divergence on the RSI occurring in the oversold region. ...
Falling wedge with 6 hits (currently). Looking for a 7th hit and will be watching closely for a breakout on the 8th. The length of this wedge suggest to me that there could be a strong breakout.
We've had 5 hit points on this falling wedge. Given this number and the fact that the market is very near the apex of the triangle expect a break into the upside on the next hit, but it could of course be on hit 7. Green lines indicate the profit targets. Second one is most likely and the third one will be a really good hit. Massive risk/reward on this trade.
I have posted a bearish trade on this same pair from a descending triangle (see link), the profit target of which is outlined here as the lower green line. If this wedge breaks out at 7 then the other trade will be closed out and I will have to hope for a win on this trade to make up for that loss. If the market hits the support line before the profit is met...
Previous idea posted on Silver (reported in related) played out well. Now I'm looking for a possible breakout to the downside of this messy consolidation price action. There is enough room for the price to head south and hit the lower trendline of a weekly falling wedge formation.