We've been in a symmetrical triangle for a while and we just broke out of a rising wedge within the symmetrical triangle. If we break down below the symmetrical triangle around 6470, next supports are 6300, 6100 and 5800. Expecting a move within the next few days.
We reached bottom of rising wedge formation. We should see dip, but might not be yet. I expect bounce from this level back up to top trend channel. Buy in levels updated to next fibonacci level down, $63. If this fails, we will look for amazing buy in opportunities at 61.8% - $55.00 ish. I expect current trend to resume, so price currently at $68 should be...
$MMM is your stock if you like rising pincher plays.... trend lines on price action shown in black on this chart... treding upwards and making higher highs and higher lows, but the 200 MA is looming of SO many stock within the DOW30 right now on these DAILY charts... if it is respected by the price action... the likely outcome will be prolonged stagnation moving...
Upwards breakout rejected. Short down at least to lower support line, in the $2.75 region depending on its rate of decline. Bearish cross on the daily Stoch, RSI very over sold. PPO moving down with some bearish divergence. Also remember that a rising wedge, particularly after some strong downward movement (as has just happened with PONY) is a bearish trend, and...
I have found something very intresting in the BTC pattern. It seems that we retrace after every uptrend back to the 0.718 zone (blue zone) of the fibonnaci levels.
Using this I have predicted the further trend of BTC.
If I use this trend, it seems we are forming a rising wedge, wich is bearish.
The target after breakdown of the wedge would be at the start of...
BTCUSD touched supply zone, we can one more time visit this zone and waiting for the correction to 6400 from the rising wedge. In global vision, BTC is moving in the great triangle and soon will be determined the trend movings after this pit stop.
Rising wedge, declining volume, bearish divergence RSI
Small correction in need before continuing on way to test all time highs
Break to the upside of the wedge/return of bull volume would invalidate
For now aiming for touch of top of the wedge at least once then find support in dotted white line channel
H&S pattern formation + Divergence + Daily Ressistance (orange rectangle) + Rising Wedge.
2 Possible entries (manage your risk accordingly).
- 1. @ Rising Wedge breakout
- 2. @ Pullback after breakout of rising wedge.
We can go for a quick 1:1 or 1:2, or if you are more aggressive you may trail your SL and set to BE after 1:1. Adjust your SL after...
Daily look at SPY breaking below its rising wedge. Will probably stay in the 2910-2920 area for EOQ but october willl probably see lower and good opp to BTD for end of year rally IMO.
There was a bull breakout that may lead to a rising wedge. The triple top area around 1.1810 is expected to attract some supply. Currently, the 61.80% retracement level of the previous bearish leg is hit and a rising wedge structure breakdown might provide a chance to take profit around 1.1720.
Want to post this to watch how it plays out. Charts suggest longing INTC and shorting AMD but I'm not sure if I wanna pick up pennies in front of an AMD steamroller so the safer play is swing long on INTC
I've been bearish Dollar for a while now.
I've recognize the Dollar's weakness and was glad to get a confirmation when the Dollar broke below the rising channel.
Today, we get another bearish confirmation signal as the Dollar breaks below the neckline of a Head and Shoulders pattern
GBPUSD failed to break out the trend line which may significate that the price will at least reach the Fib 50 around 1.2965.
More over on H4 we can notice that the forming rising wedge is being broken down by the price. All these information can reasonably give us confidence that the price will continue its fall.
Trading idea:
Sell GBPUSD
E: 1.3060
SL:...
