The Wedge pattern can either be a continuation pattern or a reversal pattern, depending on the type of wedge and the preceding trend. There are 2 types of wedges indicating price is in consolidation. The first is rising wedges where price is contained by 2 ascending trend lines that converge because the lower trend line is steeper than the upper trend line. In other words: the lows are climbing faster than the highs. These wedges tend to break downwards. The second is Falling wedges where price is contained by 2 descending trend lines that converge because the upper trend line is steeper than the lower trend line. In other words: the highs are falling faster than the lows. These wedges tend to break upwards.
Conservative traders may look for additional confirmation of price continuing in the direction of the breakout. The target can be estimated through the technique of measuring the height of the back of the wedge and extending it in the direction of the breakout. A common stop level is just outside the wedge on the opposite side of the breakout.
I was thinking any lower than 7350 would greatly decreases the odds of our cup and handle pattern because usually the handle does not go down further than half the height of the cup. However a cup and handle as wella s the double bottom for that matter is not truly invalidated until the price action has dipped well below the bottom of that patter so with are ...
This rising wedge could easily be negated but proximity to 100 and this rising wedge, I would keep tight stops. If it clears 100, the explosive to the upside
BTC moving in triangle falling wedge pattern : in the past four month the bears take control of the market, in the upcoming weeks we will know if that keep happening or the bulls have something to say
BAT Form a double bottom pattern at 0.5 fib level
available to buy it from current price 0.00004050
Targets
0.00004741
0.00005789
0.00007841
Stop_loss
Closing Daily Below 0.00003379
Risk/Reward
16% / 95%
Invest:5%
We ask Allah reconcile and repay
Netflix has formed a rising wedge pattern which can break sharply down if the bottom support is breached. A short at the top of the wedge here is a risky but worthwhile play in anticipation of the next support test - especially considering that the last jump was on low volume.
Possibility of a bearish bat forming on Lumber. Hedged more 2x1 long to short ratio until it hits Point C, then will reverse to 2x1 short to long ratio with stop on my short just above the previous all time high Point A.
So looking at the 1day chart we can see a smooth falling wedge formation, which is a reversal pattern, so right now we gotta wait patiently for the breakout in the next few days. We've got a support zone around 0.0067, which is a key level to watch! If it doesn't hold we can go all the way down to the next support level, around 0.0058.
TRADE SAFE! COMMENTS ...
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Hello, welcome to my EOS analysis!
Above I have detailed a descending pennant which is a bullish pattern. Given that EOS is a smart contract, it has the tendency to break out earlier with extended runs. We've touched the "strong support," and are heading to challenge the orange resistance conveniently placed on our triangle's D wave. Considering BTC's direction ...
Crude looks like it went up too fast and too far. The latest price action looks like a wedge within a wedge. A correction is likely.
This particular trade idea shows a 2.5 / 1 Reward / Risk ratio. S/L & Target are within the green/red box on the chart.
Good luck guys!
Chart interest me too much not to publish an idea on this. Not taking action right this second
RSI and MACD likely test their supports here. If we bounce it is definitely a buy. I will take a teir 1 position at the least there.
RSI is in the right zone for a move higher here it seems.
BTC is forming a falling wedge
To catch this move we have to wait for a break of resistance trend
Bullish RSI divergence gives us extra confirmation
TP as shown in the graph
Buy for LONG setup, best coin on the market, digital gold.
Have you ever dreamed to buy before pump?
Good luck with that;)
Entry:
220-240
Targets:
299
356
400
440
![NFLX: [NFLX] Rising Wedge](https://s3.tradingview.com/q/qTTWzSI9_mid.png "[NFLX] Rising Wedge")
