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Broadening Wedge

GBPJPY, 2hr tf, descending broadening wedge breakoutHello my friends, Another trade ideas for currency pair with JPY in it. This time is GBPJPY. Previously i posted about selling this pair on the rejection of EMA-50 at 1hr timeframe. Unfortunately, I got my stop loss hit and booked -40 pips loss. After analyzing it once again, i found that price actualy making a broadening wedge pattern on 2hr timeframe and it already broken above it. This is currently a retest of broken resistance and it is offering a nice RR ratio in my opinion right now. Buy GBPJPY 139.10 Stop loss 138.50 Take profit 1 @139.80 Take profit 2 @140.50 RR ratio is 1 : 2.3 Use proper risk management Risk only 1-2% of equity Good Luck
Long
by HayatoDragonFX
USDCAD, 4hr tf, inverted shoulders head / broadening patternBased on the 4hr timeframe we could see there is a potential reversal pattern for USDCAD. We could see USDCAD rotate higher as there is an inverted shoulders head pattern / broadening pattern. Price already broken above the resistance. We are going to time our entry on the pullback or retest of support. If prices continue going up, we will skip this trade and won't chase it. Buy limit USDCAD 1.3580 Stop loss 1.3520 Take profit 1 @1.3645 Take profit 2 @1.3710 good luck
Long
by HayatoDragonFX
BSV SHOUTS LOOK AT ME!Dear Traders and Hopeaholics alike, I want you to look at this chart and get excited... not because you like BSV... I don't care if you do or don't, the reason you are excited is that BSV is about to gain HUGE percentages... When BSV runs... it RUNS!!! BSV IS SHOUTING IT FROM THE ROOFTOPS HAVING FORMED A MEGAPHONE PATTERN also known as a Broadening Wedge. What Is a Broadening Formation? A broadening formation is a price chart pattern identified by technical analysts. It is characterized by increasing price volatility and diagrammed as two diverging trend lines, one rising and one falling. It usually occurs after a significant rise, or fall, in the action of security prices. It is identified on a chart by a series of higher pivot highs and lower pivot lows. The chart below shows an example of a classic broadening formation. Investopedia Q. So why would you trade BSV? A. BECAUSE YOU LIKE MONEY!!!!! I have added on the chart a short term wave structure that I feel is likely and in pattern with what I currently see in BTC. Sometimes I make charts and you all think... wow LISA IS REALLY CRAZY... but I am also usually right... So up to you <3 ********************************************** If you are unsure of direction or feel you are over trading I have a moto. IF IN DOUBT SIT IT OUT! There is no shame in not being in a trade. Stick to your game plan, wait for a set up to be confirmed, and ONLY take a trade if it all aligns. So please I welcome your comments and CONSTRUCTIVE FEEDBACK - ALL HATERS WILL BE FLAGGED AND REPORTED! And remember, there is NO RIGHT OR WRONG in trading - just money management! REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION (minimize your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!! <3 Lisa DISCLAIMER: The Legal stuff - I'm not a financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons... PS make sure you give me alike, that way you get updates as I post them.... :) <3
BLong
by LisaNEdwards
30
FGR - POSITIVE NEWS INBOUND?First Graphene Limited - Currently in a trading halt, and coming into the new week with positive news could see them break this descending triangle and break the 12 month downtrend. 1. More positive news out of the trading halt will see buyer momentum and volume return to the market. -Increased Volume & Momentum -Double Bottom off .382 Fibs (Strong reversal) -Break Descending Triangle & Test Descending Broadening Wedge -MACD close to a Golden Cross -Potential 20% push pending break Broadening Wedge 2. News isn't enough. Sellers continue the squeeze into the corner and push price below strong support a 0.12 -Descending Triangle completed -MACD spreads without cross -Continuation of Broadening Wedge confirms -RSI will return to OverSold region -Fall would see a reduction of 30% before Support found With a mission to be the No.1 High Performance Graphene Provider in the World. FGR is on there way with many alliances in many sectors. Graphene is the thinnest material ever isolated, 200x stronger than steel, 20% flexible and 1 million times more conductive than Copper. EYES ON These Ideas are NOT 'Financial Advice'!. Scenarios are based off a mixture of TA and Fundamentals current at the time. All IMO GLTAH. Happy Hunting!!!
ASX:FGR
by Trader_Johnni
S&P500 stalls While overall trend is still bullish, the S&P500, shown here by the ES!1 futures, had overextended, and stalled with an inside candle at the breakout of the (adjusted) Broadening Wedge. Any lower close would mean a break back down into the rising wedge. The S&P500 has stalled at the earlier drawn Final resistance level as well. MACD is still bullish, but indicates that momentum sputtered. It is time for a retracement, and waiting for confirmation of break back into the broadening wedge. MACD would need to cross down and price level close below the trailing stop level. Look out for 2860 as the wedge support downside target, around end June / early July. Meanwhile, expect some volatillity going forward (up and down). Meanwhile, keep in mind that a failed pattern tends to extrude on the other end, and particularly an ascending broadening wedge typically breaks down . Projections later when we have confirmed break back into the wedge... Bullish with extreme caution. Stay tuned, stay safe!
CME_MINI:ES1!
by Auguraltrader
Don't Get Trapped Muhh Bois We could easily fall out of the channel now, but i suspect we will have one more swing up above 10.5k to trap in longs before heading back to the 6k region. I plan on re-entering around the mid point of this Gann Fan to ride an oversold bounce, then plan on loading in more in the green zone into the new years 2-5k price range incoming in my opinion. feel free to post ideas of your own in the comments if you see it differently than myself, i always like seeing differing opinion. Good luck and safe trading my friends.
BITSTAMP:BTCUSD
by CapitulationCalls
EURO/USD reversing or just testing?Is the euro/usd reversing or just testing? I see it closing the week in a expanding wedge, which indicates a continuation. We will have a retracement but I don't believe it to be true till a reversal pattern is evident. Sunday/Monday I will be looking for the head and shoulder to form or fail. FX_IDC:EURUSD As always I left a link for my last post so you can track my accuracy. Made with love. I upload signals almost everyday, If you want to get daily signals remember to FOLLOW and turn your NOTIFICATIONS ON! 🤗 You can always show your support by liking, following or commenting! Much love to all, have a great day traders! Disclaimer The material and information contained in this analysis is for general information and educational purposes only. You should not rely upon the material or information on any of my analysis as a basis for making any business, legal, or any other decisions.
Long
by BostonJoe
Why this time things might be different for BTCHello, Looking at the bigger picture, Bitcoin is very close o confirming one huge achievement: exiting the enormous descending triangle it had entered 2017. I think if the breakout gets confirmed on the weekly timeframe, the other two patterns I have on the chart might have a chance to play out: 1) V-shape bottom, with a target close to 16k 2) Descending broadening wedge pattern, with a target close to 18.6k. I observe that no one is talking about this pattern. I just spotted it. What's interesting about this scenario is that the possibility to touch 3,8k price was there all the time and COVID-19 was only the spark(the story that the big players needed). Jesus, only if I could've spotted this in February! :) This pattern also implies that if BTC doesn't continue its rise, and will reenter the broadening wedge, the price can hit 2k, near the lower part of the broadening wedge. An unlikely scenario, if you ask me. Can we fall from 9.9k(where we are at this moment)? Absolutely! But I think we are getting more and more close to entering a bull market. Will it be this year? Will it the next year? I don't know. :) Good luck with your trades! Sisif
BITSTAMP:BTCUSDLong
by Sisif_trader
1
Ethereum - Broadening Wedge PatternsBroadening Wedge Patterns - “Megaphones” A Broadening Wedge is a range where the price is holding between two trend lines that are moving apart. The pattern is also named a “Megaphones” because of its shape. These chart patterns are similar to triangles, wedges, flags and pennants. Broadening Wedges can be either Bullish or Bearish depending on how they form within an existing trend. There are some clues in the pattern itself that suggest whether the market is likely to continue the same trend or reverse. You can trade these chart patterns as range trades between the highs and lows of the support/resistance lines. They can of course also be traded as breakouts ==================================== Targets> Featured area - gray box BEARISH in the short term ADVANCED Long term ==================================== #ETH #ETHEREUM #ETHER #BUTERIN #VITALIK
BITMEX:ETHUSD.PShort
by BlackMEX
USDCHF ShortALOHA Hope your May is on pace for dominance! There have been a lot of nice moves that I was not personally to capture but still stoked to be watching the strategies play out. I am currently sitting at -1% for the month with 3 BE trades. I am currently look at USDCHF reversal short. D - Price does not always have to touch a resistance or support line, the ray lines represent areas which is why i condsider this a triple top in my analysis. Within an overall side ways channel. 4hr - Overall price on USDCHF is moving in nice patterns. Ascending channel, within horizontal flag. Multple touches before price moves. , nice confirmations. The only thing however, is the 4hr 50ema being in the way. I'm anticipating price hovering around that area which will then decide where the market wants to go. 1hr - broke below 50ema, creating a minor hover just under it after nice bearish engulfing run. Waited to put entry until new market day. Will hold over the weekend or get taken out. It is what it is. Thanks for reading. have a good weekend traders. Since typing this up, trade was triggered due to spreads. It is what it is.
Short
by Reid_Hicks
1
Dow Jones Monthly 38.2% Fib TestThe Dow Jones monthly chart shows price testing support at the 38.2% Fibonacci retracement level in the total Fibonacci range from the 2009 Global Financial Crisis low to the February 2020 all-time high. Price had previously breached the 38.2% Fib level during the initial coronavirus selloff while also breaking below the broadening wedge pattern and finding support at the 50% Fib level which is the midpoint of the total Fib range. Price remaining above the 38.2% Fib level and lower line of the broadening wedge indicates that traders are attempting to keep the overall trend bullish. A breach below the 38.2% Fib level would indicate that traders are losing bullish conviction and that a re-test of the 50% would be likely. The 50% Fib rests in the same area that price previously topped out at in 2015 as the Federal Reserve began monetary tightening with the first interest rate hike since the 2008 Global Financial Crisis. The main level to watch is the 50% Fib as a move below that level would likely indicate downtrend continuation with a loss of 50% of the gains seen since the 2009 low; a move below the 61.8% Fib level would be confirmation of bear market continuation. The monthly RSI is below the 50 level which indicates bearish momentum behind price; an RSI reading above 50 is considered bullish while a reading below 50 is considered bearish. The PPO is declining but remains above the 0 level, though a cross below it looks likely. A PPO reading above 0 is considered bullish while a reading below 0 is considered bearish.
TVC:DJIShort
by PrepForProfit
REPBTC Broadening Wedge| Structural Resistance| 200 MAEvening Traders! Today’s technical analysis will focus on REPBTC, in a valid broadening wedge formation with a failed partial raise at structural resistance. Points to consider, - Trend bearish – consecutive lower highs - Structural resistance being tested - 200 MA – local support - RSI trading in a channel - Stochastics in upper regions - Irregular volume present Augur is in a clear defined down trend on the macro scale and is travelling in a broadening wedge that will be confirmed with a break of its ascending support line. The current local support is being established by the 200 MA, a break of this will be in confluence with a break of the broadening wedge. Staunched structural resistance has been respected multiple times; it is in confluence with the .382 Fibonacci. A close above and consolidation will likely test the upper resistance line of the broadening wedge. The RSI is in a clear channel, currently neutral, breaking this channel will dictate the direction of the price. Stochastics are currently in the upper regions, can stay trading here for an extended period of time, however lots of stored momentum to the downside. Augur has irregular volume being present, common in broadening wedge patterns , an influx will be prevalent with a decisive break. Overall, in my opinion, Augur needs to consolidate above structural resistance and create multiple higher lows to negate this pattern. A break of lower support line will however increase the likelihood of testing lower lows. What are your thoughts? Please leave a like and comment, And remember, “If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” – Mark Douglas
RShort
by The_Alchemist_Trader_