Downloading...
Download

Descending Broadening Wedge

DBW in TTF FM hourly. New up or Gap CloseThe TTF FM is trapped in a sideway movement. After a cone and SKS formation which was resolved bearish with the slump to 43,2 we now see a completed but still not active DBW. The ideal upper target (box) is 51, the statistical target is the equal to the important top at 49.5 The bearish breakout would be at 43,2 and would imply the gap close at 37. Typically DBW are most of the time bullish reversal/continuation figures, thus a bullish break out is the more likely case.
NYMEX:TTF1!
by NDD46
1
The SPY is Bouncing off of Support for the Second Time (Updated)Previously a trade was taken on the spy from this support level that targetted tthe $420-$425 level of Previous Support and Resistance after hitting this level of interest price came back down to support in early October. By this time we developed Bullish Divergence and eventually Gapped Down Below Support only to close Bullishly back above Support therefore Giving us a Bearish 3 Line Strike at Support along with a Bullish Divergence. Thisd is an update on that trade setup to point out the fact that price is now coming off that support zone and that on the Weekly we tested the 200 week moving average and are also Bullishly Diverging on this timeframe. If price comes back up to test the $420 level again it will hhave confirmed a Partial Decline and will be very likely to Breakout of the Descending Broadening Wedge pattern and test; Near, At, or Above the All Time Highs.
AMEX:SPYLong
by RizeSenpai
3
Nike - Bottom or ABC?Nike is close to an important level which will determine if a bottom formation is completed or a further slump will occur. Currently a DBW formation is build after almost perfect a Dopple Top Formation has been finished. Currently we are close to the 4 level, the current local low. The RSI is close to oversell, which support the turn around idea, which may result into a W formation whose execution would probably trigger the 5 and the DBW activation. On the bearish side a potential running ABC pattern can be found fitting perfect into the chart and the Fibonacci patterns.
NYSE:NKE
by NDD46
BITCOIN DESCENDING WEDGEAfter 67 days of price action we have a 4H descending wedge pattern, and currently the upper boundary is being tested. The SPX had a similar long term pattern formation as shown on the chart. The breakthrough of the upper boundary resulted in a 13.88% rally up past the previous local high and looks extremely bullish right now. Perhaps there will be a cool off soon but Bitcoin for sure has not had this rally yet, and the descending wedge breakthrough could trigger a similar rally. With talk of a BlackRock BTC ETF this could be the catalyst to breaking through the pattern and rallying towards the local high of 28.5K (Target 1)
INDEX:BTCUSDLong
by ProR35
📉 Descending Broadening Wedge Identified on $RAYHey traders! Today, I want to discuss an intriguing chart pattern I've identified on $RAY. Let's explore the descending broadening wedge and its implications for potential price action. 📊💡 Pattern: Descending Broadening Wedge 📉🔽 Symbol: FWB:RAY 💰 Overview: A descending broadening wedge is a significant chart pattern characterized by expanding price swings within converging trendlines. This pattern suggests increased volatility and the potential for a reversal. Let's dive into the descending broadening wedge pattern on FWB:RAY and assess its significance. ⚡💹 Key Features of the Descending Broadening Wedge on FWB:RAY : Expanding Price Swings: Observe the widening price swings within the converging trendlines, creating the broadening pattern. This indicates growing volatility and potential market dynamics shift. 📈📉 Reversal Potential: Descending broadening wedges are often seen as reversal patterns, indicating a possible trend change. Monitor price action for confirmation. 🚀📈 Trading Strategy: Entry Point: Consider entering a position once FWB:RAY breaks out above the upper trendline of the descending broadening wedge. This breakout could signal a potential reversal and the start of an upward move. ⬆️💰 Stop-Loss: Implement a stop-loss order below the lower trendline to manage risk and protect against potential downside. ⛔️📉 Target Levels: Identify key resistance levels or previous swing highs as profit targets. Adjust your position size and take profits accordingly. 🎯📈 Risk Management: Maintain proper risk management techniques, including position sizing, setting stop-loss orders, and adhering to your trading plan. Be aware of the risks associated with trading cryptocurrencies like $RAY. ⚠️💼💡 Disclaimer: Trading cryptocurrencies carries risks, and it's essential to conduct thorough analysis and seek professional advice before making any investment decisions. #DescendingBroadeningWedge #RAY #Cryptocurrency #TrendReversal #TradingStrategy #TechnicalAnalysis #Volatility #RiskManagement In conclusion, the descending broadening wedge pattern identified on FWB:RAY suggests a potential reversal in the making. However, wait for a confirmed breakout above the upper trendline before considering any trades. Stay tuned for further updates on $RAY! 💹🚀 (Note: This post is for informational purposes only and should not be considered as financial advice.) 💡💼📚
Long
by STP_MrNodeItAll
2
📉 Descending Broadening Wedge Spotted on $DOTHey traders! Today, I want to share an exciting chart pattern I've identified on MIL:DOT (Polkadot). Let's explore the descending broadening wedge and its implications for potential price action. 📊💡 Pattern: Descending Broadening Wedge 📉🔽 Symbol: MIL:DOT 💰 Overview: A descending broadening wedge is a distinct chart pattern characterized by expanding price swings within converging trendlines. This pattern suggests increased volatility and the potential for a reversal. Let's dive into the descending broadening wedge pattern on MIL:DOT and assess its significance. ⚡💹 Key Features of the Descending Broadening Wedge on MIL:DOT : Expanding Price Swings: Notice the widening price swings within the converging trendlines, creating the broadening pattern. This indicates growing volatility and potential market dynamics shift. 📈📉 Reversal Potential: Descending broadening wedges are often considered as reversal patterns, indicating a possible trend change. It's crucial to monitor price action for confirmation. 🚀📈 Trading Strategy: Entry Point: Consider entering a position once MIL:DOT breaks out above the upper trendline of the descending broadening wedge. This breakout could signal a potential reversal and the beginning of an upward move. ⬆️💰 Stop-Loss: Implement a stop-loss order below the lower trendline to manage risk and protect against potential downside. ⛔️📉 Target Levels: Identify key resistance levels or previous swing highs as profit targets. Adjust your position size and take profits accordingly. 🎯📈 Risk Management: Maintain proper risk management techniques, including position sizing, setting stop-loss orders, and adhering to your trading plan. Be aware of the risks associated with trading cryptocurrencies like $DOT. ⚠️💼💡 Disclaimer: Trading cryptocurrencies involves risks, and it's essential to conduct thorough analysis and seek professional advice before making any investment decisions. #DescendingBroadeningWedge #DOT #Polkadot #Cryptocurrency #TrendReversal #TradingStrategy #TechnicalAnalysis #Volatility #RiskManagement In conclusion, the descending broadening wedge pattern identified on MIL:DOT indicates a potential reversal in the making. However, it's crucial to wait for a confirmed breakout above the upper trendline before considering any trades. Stay tuned for further updates on $DOT! 💹🚀 (Note: This post is for informational purposes only and should not be considered as financial advice.) 💡💼📚
Long
by STP_MrNodeItAll
1
INTC - Bullish Reversals - Long On the chart of Intel Corporation (INTC), we can see two bullish reversal patterns on a daily timeframe. We can see a Descending Broadening Wedge. This is a typical bullish reversal pattern. Once the price breaks out of the upside of the pattern the highest point of the pattern becomes the target. The second pattern is a forming Double Bottom. This pattern indicates a bullish reversal. Once the price breaks out of the neckline the target will rise the same length as the range from the neckline to the bottom In this particular case when the Double Bottom gets validated, the Descending Broadening Wedge will be activated too. When this happens the long position can be taken when the neckline has changed from a resistance into a support. See all further details on the chart. Goodluck!
NASDAQ:INTCLong
by vf_investment
15
S&P 500: Bullish Gartley Above Demand LineThe Hourly setups have been stopped out and the SPX has gone significantly deeper but now looking at the Daily Setup and it gives reason to think it can continue up from here. We are at the Demand line of the Descending Broadening Wedge and are trading at what could be a Bullish Gartley. From this point I'd put stops below the 800 Day EMA and enter bullish positions at the current level and see how it goes over the coming weeks to see if we can get a Break Hook and Go.
AMEX:SPYLong
by RizeSenpai
FTMUSDT is testing the new breakout Currently, the price of FTMUSDT is attempting to break out of a descending channel after a clear retest of the 0.5 Fibonacci level. A descending channel is a technical pattern in which the price of an asset moves downwards between two parallel trend lines. The upper trend line acts as a resistance level, while the lower trend line acts as a support level. The descending channel is a bearish pattern that indicates that the price of the asset is in a downtrend. In the case of FTMUSDT, the descending channel is a long-term pattern that has been in place for several weeks. The upper trend line has acted as a strong resistance level, with the price repeatedly being rejected at this level. The lower trend line has acted as a support level, with the price bouncing off this level multiple times. After a clear retest of the 0.5 Fibonacci level, which is a key support level, the price of FTMUSDT is now attempting to break out of the descending channel. A breakout is a technical pattern in which the price of an asset moves above a resistance level, indicating that the bullish momentum has taken over the bearish momentum. If the price of FTMUSDT is able to break out of the descending channel and create a higher high, this would be a signal to apply Plancton's rules and consider taking a new long position. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
F
by InkyGrip
📢 The Broadening FormationA technical chart pattern recognized by analysts, known as a broadening formation or Megaphone Pattern, is characterized by expanding price fluctuation. It is represented by two lines, one ascending and one descending, that diverge from each other. This pattern typically appears after a significant increase or decrease in security prices and is denoted by a sequence of higher and lower turning points. Normally this pattern is visible when the market is at its top or bottom. The greater the time frame is better the pattern will work. 🔹How to identify Generally, the Broadening Formation consists of 5 different swings. But the swing has to have a minimum of two higher highs and two lower lows. A trend line is drawn by connecting point 1 and point 3 while points 2 and 4 are also joined together to draw a line. These two lines create a shape that looks like a megaphone or inverted symmetric triangle. These swings’ highs and lows have to close above or below its pivot line and therefore they will create swing high as pivot high (R1, R2, and R3) and swing lows as pivot lows (S1, S2, and S3). A breakout occurs when the line does not respect its support or resistance line and closes outside the shape after making the 5th swing. 🔹Volume Volume plays an important role when it comes to the recognition of this pattern. In the Broadening Top, volume usually peaks along with prices. An increase in the volume, on the day of the pattern confirmation, is a strong indicator. 🔹Failures This pattern also can be traded when it fails but is necessary to identify the failure perfectly. A failure can be spotted when it fails to break the trend line (upper or lower as the case may be) after completing the 5th swing. Suppose in a bull market condition, this pattern is formed and if it fails to break the upper trend line, traders go short when the price goes below 3rd swing high (R2). Similar is the scenario, when the market is in a bear phase and it fails to break the lower trend line (S2), traders take a long position when the price closes above the 3rd swing high. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
4
SPX500USD: Partial Decline With Two Bullish HarmonicsWe have a Bullish Gartley on the 30 Minute and a medium sized Bullish Shark on the Daily within the local range above the support zone. If we can trade back above the zone marked in the white box on the bottom right chart we will likely reconfirm our partial decline from there and breakout of the overall Descending Boradening Wedge and go for Macro Targets between the 1.13 and the 1.618 Extension of the previous Local High to Low which would take us to the Halfway and Full Measured Moves of the Descending Boradening Wedge Respectively.
OANDA:SPX500USDLong
by RizeSenpai
DASHUSD - Descending Broadening Wedge On the Dash chart, a descending broadening wedge has appeared (1h-timeframe). A descending broadening wedge is a bullish reversal pattern. The trade can be entered once the price breaks out of the pattern to the upside. The target is the height of point B. At the moment the price is overbought when looking at the RSI. In our opinion, the price is going to drop a little bit. After that, it could be possible that the price is going to break out straight away or it might retest. This is the reason why there're two paths drawn on the chart. See all further details on the chart. Goodluck!
KRAKEN:DASHUSDLong
by vf_investment
5
PYPL: A classic Descending Broadening Wedge!• PYPL is doing a Descending Broadening Wedge in the weekly chart; • This week it went up almost 20%, and it is in a key resistance area, made by the upper purple trend line and by the 21 ema; • In theory, PYPL would correct next week, however, if the bullish momentum persists, PYPL would break this Descending Broadening Wedge, and in this scenario, the next resistance is the $122 (green line); • The volume is increasing, which reinforces the idea of a breakout; • For now, let’s pay attention to this resistance area. Remember to follow me to keep in touch with my analyses!
NASDAQ:PYPL
by Nathan_The_Finance_Hydra
The Dow Jones Has Bullishly Confirmed A Partial DeclineBoth the DJI and the SSPX have been trading within this Descending Broadening Wedge since the year begun and both have shown Bullish Variables that have allowed it to hold above a Horizontal Support Level. In this time The Potential for a Partial Decline has made itself present on the chart but the SPX has yet to confirm the Partial Decline of the Descending Channel. However, where the SPX has so far failed to the Dow has Succeeded in that it has come back up to challenge the Supply Line of the Broadening Wedge after having failed to come back down 100% of the way to test the Demand Line thanks to it being held up by a strong weekly horizontal support level and some strong amounts of Bullish Divergence at that very level. If we are to go by Bulkowski's statistics for Descending Broadening Wedge Partial Declines the DJI now has an 87% chance of successfully breaking out of the Wedge to the upside. The measured move for such a pattern would take us back up to the inception of the pattern. I personally will be targeting the 0.886 and 1.13 Retraces. Hopefully this will be a sign of things to come to the SPX which is still trading near it's Equally as Important Horizontal Support Level.
DJ:DJILong
by RizeSenpai