Bearish on the EURCAD Pattern Identification Price went up to 1.5150 late last week to complete the bearish Bat pattern. It also formed a rising wedge (reversal) pattern and broke below RSI forming a bearish divergence Trade execution Took a short trade after price went below the lows at 1.4953. Stops are still currently above the 1.50 mark at...
Hello traders, looks like USDCAD may break out of its rising wedge. As expected we are seeing some volatility surrounding the FOMC minutes but the pair seems to be consolidating below the breakout line. Breakeven at 1:1 with a nice R/R for final target. Cheers
Technichals : Risign wedge coming to an end + daily MACD and RSI divergence (also confirmed in weekly). We need a breakdown of the wedge to confirm short. Entry: 1322 SL: 1390 Targets: 1230 (20%) - 1135 (60%) - 1030 (20%) Fundamentals same as last attempt: China crypto withdrawals frozen. They could be potentially about to be opened again. We'll have to...
Rising Wedge? Crash coming soon?
USDCHF SHORT term Rising Wedge formation
GBPNZD SHORT term Rising wedge & resistance rejection. place your stop loss below the resistance.
Dollar is forming a rising wedge, until a clear breakout appears, stay sidelines or scalp to the inside from the limits of the formation.
Rising Wedge + Bear Divergence (Vol/RSI) into R5 yearly pivot Should breakdown when 3/4 full Target = 200EMA, kumo support, yearly R2, 50% fib = $30-34 Stop = new AllTimeHigh Expect RSI to reset <30 if 200EMA is hit Alternatively, place bids on target instead of risking getting bulldozed shorting the bull trend.
Rising wedge has appeared. Probably will have mini-pullback and then, price will broke that resistance level to do a bullish impulse.
A bounce off this trend line down to major key level confluence with 61.8 fib. Wait for break of rising wedge. Expected upside after this move. May move stops to break even after 50%.
While this scenario is ideal for my current positions i still see it as highly likely contender to ending the current "Trump rally". -with the prospect of a march fed hike becoming more and more likely, the dollar rally will continue to the critical resistance range at least. -once we see a breakout of the channel and a retest of the 103.23 resistance I will look...
The German DAX slowly ascends the rising wedge which typically results in a downward breakout. We also see loss of momentum on the RSI. (Bearish Divergence) This could lead to a pullback before we may see a retest of April 2015 Highs. Trade your plan
STAY seems breaking down from a rising wedge formation. Moneyflow was diverging & now crossed down to negative side. We think it can decline all the way down to $13 area. * Trade Criteria * Date first found- March 9, 2017 Pattern/Why- Rising sedge formation Entry Target Criteria- Break of $16.27 Exit Target Criteria- Momentum trade, up to $13.00 Stop Loss...
Despite being relatively more unpredictable than usual in the past few days, the pair seems to be forming a rising wedge. This is an indication that the strength of the bulls is waning, and that all signs point to an impending downturn for the pair. However, there are 3 realistic targets that I can see from the chart which makes me a little uneasy about my TP...