First if all, why sharing a wedge that happened?
This is purely for educational purposes, I was following this wedge while not trading it.
I don't need the credits for spotting it or something, but I'm sharing this to look back in the future at wedges what worked out well.
About this one:
We see that this wedge was a good textbook wedge.
Why did this wedge...
The rising wedge we see on the 1hr chart EURJPY looks very solid, descending volume represents lower interest in pushing the price up.
The take profit is calculated on the save side by the "rules" of a wedge that the opening is the profit after breakout, I'm keeping a wider stop since I've seen many wedges that been published by me here getting stopped and then...
The channel USDJPY have been in now is coming to an end soon.
We see the volume dropping as it is still rising, the speed of the rise is taking off also.
Since the resistance as shown is at the same height my thoughts on this trade are that we are going down and break again from this channel.
On the bigger picture (1D) I'm seeing a triangle that I will publish in...
A bullish wedge is what we can see here on the lower timeframe (1hr), I'm trading this as shown on the chart.
We see the price closing in what means the bears are losing control pushing the price down over the buying up from the bulls.
This can be traded on the breakout, but with a narrow wedge like this there is more chance missing the entry.
You could also...
On the EURCAD chart we can see an ascending triangle.
As shown I'm going in with a very early entry. At the moment we have a slightly oversold RSI (29) and a support that looks like it's doing its job for the fourth time.
I will keep a stoploss slightly under the support but with still enough room for false breakouts.
Hope this will workout like my last ascending...
On the UK100 1hr chart we can see a double top.
I must say that this trade is for educational purposes since I don't spot this pattern that much.
The RSI, Volume and Price is lower at the second top which means the interest is cooling down.
The stop is placed at the last high or if you trade safe a little above.
To get better at spotting this patterns I'm...
I've been looking at this wedge last week and thought it would take longer to break so waited before posting.
Now it looks like it's already making an attempt to break the resistance of the wedge.
Trading it directly as shown on the chart.
Good risk reward ratio and tight stop in case of a false breakout.
Looks very bullish at the lower timeframe so this is a good...
On the 1hour chart I'm looking at a rising wedge that gives us a short opportunity.
When zooming out a bit it's a very clear picture of a longer downtrend that conforms a short fits in.
To trade this I'm going to enter as shown with a great RR of 3.58 (yes, including premature entering instead of breakout).
I've chosen for this approach because I probably won't...
As seen on the 4hr chart we can see a rising wedge being formed, the support is valid but not yet confirmed.
The bigger picture on the right is a rising wedge on the daily. This one is confirmed multiple times.
There is a chance the bigger wedge is ready to break after this one but that will be in a new analysis later on.
First things first:
As said, we want some...
This time I'm going to try a range trade.
We see a good horizontal channel that holds on pretty well.
In combination with a RSI that has been higher at the top and is descending now we can try a short like seen on the chart.
This trade will need a couple days I guess but it has a Risk Reward of 3.27.
Thanks for reading and I will keep updating this.
We can see a clear wedge formed on the 2hr chart.
The upper resistance line I have drawn is a line that will be instant visible on the daily chart, still figuring out how to post two different time frames next to each other to show this resistance.
Back to the wedge we see that it closes in nearby that 'daily' resistance, I'm convinced this will end up as the...
The chart shows us the possibility that the USD hit the temporary low against the Canadian Dollar.
I've drawn a bullish wedge that I expect to continue for a little while before it's time to break the resistance.
Thanks for reading and I will keep updating this.
There is a possibility that the nice gains on USOIL as predicted in my previous USOIL analysis is coming to a trend reversal with this bearish wedge?
The support of the wedge has three conformation points at the moment, the resistance only three.
Would like some more conformation that it follows this wedge, if it does I'm going in for a short trade as shown on the...
Not great in spotting H&S yet. We did have some bullish sentiment in the market and now formed this, that seems to fit in the plan of a H&S.
The shoulders are not higher than the head (the difference is not that great) but the neckline fits in quite well.
When the markets open tomorrow I expect to get an answer on the Idea Title.
Thanks for reading and please...
The bigger picture on EURUSD shows us that the possibility is there that we have reached the bottom.
The horizontal line as drawn has been a support multiple times.
This time the RSI is even lower than the previous times, except the time it broke the support.
The difference between now and the time it broke the support is that we already have a bullish daily...
After quite a drop we're now seeing a ascending triangle formed.
Since I find the 'textbook" ascending triangles not very clear (some say it is a continuation pattern, some say reversal)
To start learning more about this pattern I'm going to publish it here so I can find it back later on.
Give me some feedback about what you think this pattern would do after the...
USOIL seems to be in a falling wedge.
This pattern seems to be formed but not ready to break yet, think the black gold will drop a little more before make some gains.
Will update later on if this wedge is holding or broke, if it closes in like expected this could be a good trade opportunity.
Thanks for reading and I would appreciate some feedback!