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.
Yes dammit YESSSSSSSSS, finally this market is alive again. Sorry, i had to get it out of my system :) Volume is a rare thing in crypto the past 6/8 months so i think we need to celebrate it when we do have it.
We have finally started the next leg up after i started this ABC analysis from the 3200 lows in December. There were some moments where the extreme low...
Shortly after i posted my LTC' analysis, where i was still a bit neutral, Bitcoin' started to show some bullish signs. Because of that LTC' was moving up as well and was quickly bumping against that red resistance on the right, which was the neckline of that inverse H&S i mentioned in the previous analysis. Target of that IH&S has been over reached even and now we...
So far XRP' is moving quite identical to the fractal i showed in the previous analysis. We even did that fake breakout (blue circle) and now moving inside of that channel (orange circle).
XRP' is still one of the weakest alts out there, for several weeks already. Based on the fractal, we should see it drop more coming weeks. But i will ignore the fractal for now...
As discussed in our latest webinar, Wolfe Waves are a 5-wave pattern which shows supply and demand as price moves towards an equilibrium. In essence, Wolfe Waves rely on three tops and two bottoms or the reverse, pointing to the correct direction, in order to evaluate where the next move is going.
For the NZDCHF pair, points 1 and 3 have been identified as the...
Here we can see the September high and the current high, both times the Nasdaq was having a very hard time to make new highs at the end. My previous post on the Nasdaq, where i showed a potential double top, has not been invalidated yet. This is because that double top has formed into a bearish wedge. So unless we see a strong break up coming days, we will get to...
hey traders,
let me share with you my thoughts about s&p:
first of all, on 4h chart we see a weakening bullish momentum
formation of a rising wedge on 1h charts more strongly indicates bulls exhaustion
also, on 4h chart looking left we can find that the market is really close to...
An update to the weekly falling wedge we've been keeping track of on the total crypto market cap chart. We currently are breaking up from the 1 day yellow falling wedge. If we can maintain above the 1 day 50ma(not shown here) which we likely will, we will also trigger breakout of this larger 1 week red falling wedge! If we trigger the red falling wedge the entire...
In my previous analysis i showed a bullish wedge, which was playing out almost perfectly in the blue circle, but in the end it dropped below the support line and made a small crash even. Now usually when a bullish wedge fails, we see a big fast dump happen. But instead we saw if move sideways and even a small countermove up. The past week, XLM' seems to be dead...
Pretty sick, how it keeps following those line on the left AND the right chart. It's kind of scaring me a bit as well :). Would be nice to see if it follows it the coming weeks as well, because that would mean the market will turn up soon.
Now getting more serious again, this market has been a big pile of crap lately, boring the hell out of everyone and becoming...
Pair: EURUSD
Trade: Long
Time Frame: H1
Strategy: Wedge Pattern
EURUSD Buy the Breakout + pullback.
Don't forget to use %2 Risk Management.
All details available on the chart, but if you need - please comment and let's discuss.
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