Continuation pattern "Rising Wedge".
Sell is triggered after the 1H candle close below the pattern and below the 82.00
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*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
This Analysis coincides with the Bitcoin analysis I posted earlier today that is link below.
Shorts are wedging to an apex with, what I count as an ABCDE Diagonal, representative of a Wave 4, with the current swing high being the 5th Wave, leading up to a reversal...
XAU USD is situated into rising wedge and i think the top of this channel was reached at 1250$.
Stochastic overbought and bear cross is CONFIRMED
If we check RSI it s still dropping,top was reached also
MACD still in bullish zone and need to cool off a litle
First target of this rising wedge can be 0.618 fib which is 1236$ second target 1223$ and final target ...
usdjpy H1 looks like a rising wedge ,
wait for breakout for confirmation.
targets are on the chart.
I am not a financial advisor. Please do your own due diligence when it comes to trading. Never put in money that you cannot afford to lose.
I just spotted a rising wedge on the DXY weekly chart which started with the dollar uptrend in early summer. As concerns over slower global growth increase over time , the Fed may shift its forward guidance and turn more dovish on its last 2018 meeting in the next few days. Combined, this bearish chart formation and maybe a more dovish tone from the Fed might end ...
A quick scalp idea:
Price is currently moving in an rising wedge, and we will be looking to place short trades when the RSI indicator becomes relatively overbought. The price had already broken out of a ascending trendline from the monthly timeframe, therefore, short positions are highly feasible on this index.
2 patterns have been present at the current time.
A rising wedge and a bull flag is shown in the chart. thus, could result in two outcomes.
We should really wait until a clear pattern could be identified.
This is not a financial/trading advice.
Trading Bias: Neutral / Bullish and Bearish options laid out
Technical Strategy: Rising Wedge (for short trade) vs Daily Support Channel (which may work as triple bottom on D1 timeframe for a long trade)
*Wait for price to break down and out of the wedge. If we break up and OUT of the wedge then will re-assess with a potential long scenario*
***EUR will ...
XRP was forming a nice bullflag until BTC's crash. Which caused some sort of weird arbitrage increase of XRP's BTC value. Now XRP is signaling a rising wedge. Expect the next time BTC recovered significantly in USD value for XRP to dump in sats.
Expecting XR's price discovery to target the long since unfilled area of 7500.
Further drop is possible because of the potential rising wedge forming. Wait for wedge to form or a bounce off CAM S3 before shorting.
If this chart helped at all, leave a like or follow.
I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA.
DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for ...
The NZD/CAD pair has formed a rising wedge pattern in the 4-hour charts.
It is precariously high and is currently at a strong resistance point as well.
But, to be on the safer side we recommend investors to initiate short positions only after the trendline breaks.