Don't be surprised if you wake up in the morning to see a massive red dildo on the gold chart breaking down the wedge. In my opinion, it's very likely. GOLD is absolutely ready for a massive downtrend; it's going to happen very soon, so I hope you are prepared for it! We can clearly see a rising wedge on the 4h / daily charts, which is also an ending diagonal...
What we can see in the chart is a rising wedge pattern. We expect the price to break down from the rising wedge formation. It may take a little bit more time since the price is still consolidating inside the wedge. You should enter short position when/if the price breaks down of the wedge with a volume surge. Do not forget to put a stop loss once you enter the...
Gold is trading within a RISING WEDGE pattern. After its rejection to 1824 yesterday, it might give us a new low if it breaks down below the structure around 1785. It might expose the support around 1766-1745. However, if the bulls take over again, it might bounce up and breaks the upper limit which could potentially went up to 1830-1850. Great setup and...
The rising wedge — also called an ascending wedge — is a bearish reversal pattern. This means that after the pattern completes, you can expect the market to reverse direction. Confirming rising wedge. 1. Choppy and overlapping waves 2. Higher highs and higher lows 3. An upward sloping resistance trend line 4. An upward sloping support trend line 5. Resistance...
As per Price Action we can See the Price has Broke Down the Recent Support, So if Price Sustains Below and give us a Valid Retest we can go for Short and our Target will be Next level.
First Netflix, then META, TSLA, and now MSFT! The major trendline from 2016 is breaking down with a successful retest. This is not looking good. MSFT is still pretty strong compared to others, but the question is how long it can last. The next support is the base trendline from 2009. In this case, a 43% crash is possible. I don't see any good, strong support...
After last weeks FED and ECB markets were left adjusting to Powell and Lagarde's comments. FED will have to continue on with rate hikes well into Q2 '23 when they can start a pivot of no hikes, but certainly not making any cuts either. Rates will be held until they feel they have things 'under control'. While Lagarde sounded 'hawkish' it doesn't change high...
Possibly the Australian dollar against the American dollar has a fall because it has 4 confirmations: • Wyckoff Accumulation • Butterfly harmonic pattern • Rising wedge • Reaction of an Order Block in 4h The first three factors tend to reverse the trend or set the tone for a new trend, which in this case would be bearish apart from the fact that in elliot...
Sell before Christmas because this is the time when Bitcoin falls like a rock pretty much every time! January is also a deep freeze for Bitcoin. At this point, this overlapy uptrend from 15450 to 18400 looks like an ABC correction to me. It shows all the signs of a correction. Altough I believe there will be a lot of buyers at the 0.618 FIB retracement because...
Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this quick ETH update. ETH is not looking good here. Forming a rising wedge in 6hr time frame which is a bearish pattern. ETH breaks down this rising wedge and currently retesting. After this retest, we might see more drop in ETH. Important support for ETH is at...
BANKNIFTY UPDATE: Rising Wedge Break Down As mentioned yesterday, breakout fizzled out & then breakdown happened on HCB below 43384 & its target is 43300_43310. So far made low 43379. Immediate Resistance Zone - 43500_43515 / 43800_43870. Next Resistance Zones - 44160 / 44300 / 44500 Immediate Support Zone - 43370_43300. Below that 43020_42900
BTC forming bear flag and USDT. D forming bull flag
Hi @everone, i Added on top of previous chart i would like to share some pattern wavecouts on top of it. rule nr 1 : never short at a potential wave D ( this is often a huge trap) same for an falling wedge, its exact the opposite. rule nr 2 : now how to count your waves, you want to spot a 5 wave structure with higher highs and higher lows with an apex wich...
Here's a quick look at the BTC 6 hr. chart. As we can see, the price has been printing a bigger rising channel, and if the price gets rejected from its current level, we may see a drop to the bottom of the rising channel! If the price breaks above the channel and thereby 18.2k, the price will probably retest the 18.8k level! A rising channel has a 30% chance of...
Hello traders this is my new analysis about possible route for Gold , if the news of PPI will have a positive result for USD it would cause to downtrend for Gold and about technical analysis there is a Rising wedge here that may show us the possibility of downfall for Gold .
chart updated and you can see detailed on it.90% of the time it will be like this.
The price is testing a crucial level on the daily and 4h timeframe inside a rising wedge How to approach it? IF the price is going to have a breakout from the rising wedge and support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue...
NFLX has been in an uptrend and quite bullish and relatively strong on the 2H chart an ascending wedge pattern is seen. Moving Averages confirm the present trend as bullish with no crossovers and the price above all of them. Given the ascending wedge I will take a small position now at the trendline resistance as a swing short. I will add to it if/when price ...