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Risingwedgebreakout

What are Falling and Rising Wedge Patterns?What Is the Wedge Pattern and Its Common Characteristics? 1. Wedge patterns have converging trend lines that come to an apex with a distinguishable upside or downside slant. a. Wedge with an upside slant is called a rising wedge b. Wedge with downside slant is called falling wedge 2. It has declining volumes as the pattern progresses. 3. It breaks out from one of the trend lines. Why We Should Pay Attention to Wedge Patterns? Some studies suggest that a wedge pattern will breakout towards a reversal rather than a continuation more often than two-thirds of the time. Therefore as the rule of thumb, people generally treat a falling wedge as a bullish pattern and a rising wedge as a bearish pattern, especially a falling wedge would be a more reliable reversal indicator than a rising wedge. Since we know a wedge pattern has a higher probability to reverse and due to the fact that the price of wedge pattern converges to a smaller area, we can trade the reversal set up with a relatively close stop loss to its entry price, which provides us with a good trading opportunity with a decent Risk:Reward ratio. Examples of a Bullish Rising Wedge and Bearish Falling Wedge. Sadly, there is nothing that works 100% in trading. Not every rising or falling wedge will reverse as one might expect. Every trader must properly manage their risk by setting stop losses and not just trading based on price patterns. Below are two examples. Bullish Rising Wedge (ETHUSDT during 15/NOV/20 - 28/DEC/20) In the early stages of the epic 20-21 bull market, if traders blindly treat the rising wedge as a bearish signal and trade accordingly, they would pay a heavy price. Bearish Falling Wedge (LTCUSD during 14/AUG/18 - 14/NOV/18) On the contrary, in the late stage of the 2018 bear market, any trader who blindly trades the falling wedge to bet on a reversal would also learn a hard lesson. Comment down your thoughts on Ascending Triangle Pattern in the comment section. Disclaimer: This is just an educational post. Never trade just any pattern. And please do your research before making any trades. Happy Trading!
Education
by Coinlog
7
CTK > Rising Wedge > Jump? Potential Target?Hello Friends, Hope you all are having a thrill in your trading journey. I am presenting you my analysis of CTK. According to my technical analysis , CTK is following a trendline support, creating a rising wedge . Now, we are expecting a rise till next resistance. "My analysis is valid until We don't see a breakout from channel" I hope my analysis is pretty clear to you guys. Kindly do your own research and follow proper risk management. Feel free to share your views in the comment section. Like and Follow! Best Regards, Shaswat Naman TradeThrill, India🇮🇳 Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Long
by tradethrill
1
BTC - H4 - TWO SUCCESSIVE DOJIS ! = UNCERTAINTY & INDECISIONLooking at the H4 time frame, we can see 2 successive dojis which took place over the last 2 H4 periods; it could mean some uncertainty and indecision about further direction. For the time being, the BTC hold above the former downtrend resistance line which also coincides currently with the level of the Mid Bollinger Band around the 33'400 area. So, next H4 closing level should give more clues about upcoming price action and I would strongly suggest to monitor accordingly price action on shorter time frame which will allow you to detect potential reversal signal (s), such as bearish divergences, breakout of clouds support zone, etc, Looking at my previous H1 analysis, the rising wedge breakout occured a couple of hours ago, but clouds support zone, for the time being rejected the downside breakout attempt and triggered, for the time being a sideways price action, confirming the uncertainty above mentioned.
BITSTAMP:BTCUSD
by Ironman8848
2
WABIBTC is creating a falling wedge 🦐WABIBTC is creating a falling wedge below the weekly resistance. IF the price will have a breakout and flip the current resistance into new support, According to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
WLong
by InkyGrip
13
BTC D1 - RISING WEDGE BREAKOUT IMPLICATIONS !D1: Rising wedge downside breakout in progress ! As mentioned yesterday RSI/Sto indicators was showing a potential cross under price action which is currently on a ongoing progress. In addition, yesterday's price action triggered a double top formation @ 59'000, trigger level being @ 56'064, which gives a target @ 53'128 Moreover, Mid Bollinger Band @ 55'589 is under heavy attack, RISING WEDGE BREAKOUT IMPLICATIONS : This breakout is opening the door for a move of 7'400 points, targeting 49'575 and will be confirmed by a closing today below the base of this rising wedge. In the meantime, a pullback can not be ruled out as, usually after a breakout, there is a natural return towards the breakout level and this on both sides, either for an upside breakout (pullback in the direction of the former resistance level) or for a downside breakout as it is the case now (pullback in the direction of the former support level) Such kind of price action, if seen, should be used as a SELL opportunity in managing Risk Management accordingly ! SUPPORTS & RESISTANCES S1 : 54'417 S2 : 53'128 (Double top target) S3 : 53'002 S4 : 51'586 S5 : 49'575 (rising wedge target) RESISTANCES R1 : 56'625 R2 : 58'000 R3 : 59'000 R4 : 61'066 CONCLUSION : As already mentioned we are not any more on a mode of buy on dips but on a SELL ON RALLY MODE !!! Watch shorter time frames for clues Have a nice trading day. All the best and take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
12
Bitcoin: The anatomy of a blow off topIntroduction I have seen quite a few blow off tops while I have been in crypto and of course bitcoin's is the most famous. One of the most annoying things about charting is when you have to redraw your lines over and over based off the price action. Typically triangles get bigger and bigger or wedges get bigger and bigger and and blow off tops are typified by rising wedges that break down into an even larger wising wedge, and that wedge breaks up and we have our blow off top. Charting The bold black trend line is our wedge resistance and it is damn near straight up. The 2017-18 structure has a purple solid line for the smaller wedge support and the blue line shows the larger wedge support. The bollinger band is set for the weekly timeframe and only shows the midline and top because of how the bottom can distort the chart. The right chart formation our current structure. The blue and purple trendlines are dashed because they are still preliminary. The buy box is a previous ATH that help set up the black trendline that defines the wedge resistance. Trades implied in this post (without giving advice on any) Short until we get to the buy box with stops based on the rising wedge resistance. Very risky because we could still move higher into the current rising wedge. Buy in the buy box and have stops based on a very small wick. Permits for a tight stop for people that want to use a lot of margin. Zooming in On our last cycle we still consolidated on top of the black trend line of the large rising wedge. From there we had a large squirt up and then formed another very tight rising wedge for the topping structure which lead into a descending triangle. In other words, there was about a month where people could have traded out of their bitcoin trades into stable coins or alts that were moving upward. This cycle appears to be moving much faster. You may not get a whole month to cycle out if you are so inclined. Also shown is the fib channels with green anchors to show where the points of contact are. I have found the fib channel to be very useful, especially in charts like BTC where there are double bottoms with have higher lows on the zero line. Due to volatility of blow off tops I can't guarantee any particular level if BTC breaks out of its rising wedge and then forms a topping pattern between any two fib levels that will be a major sign for me to cut bait on bitcoin. I do have a current forecast of reaching the 2 and ultimately bottoming out on a return to just above the 1 level. Just for Funsies for the Never Sellers out there Here is a chart that shows the 3 level extension for the never sellers out there who will just be accumulating through everything a little every paycheck and maybe buying more on big red moves.
BITSTAMP:BTCUSDLong
by This_Guhy
6
BTC vs ALTSBTC chart is very attracting don't get me wrong, I would like to know different opinions and take on BTC and share my analysis, The top 100 Altcoins gaining dominance with all the new projects in the space, DeFi, NFT's, BinanceChain, Polkadot Network/Cross Multichain Technology the list is growing and more money is floating. ADA innovating with their smart contract implementation, Will alts steal the show from BTC and lose dominance or continue within the rising wedge and potentially break out of the channel? Will the Cup&Handle Validate and send BTC to new all time high ? Both ways the crypto space is growing, Projects are being listed, partnerships are being made big players are getting involved in the crypto space, To me it's mass adoption, seems like the over all market cap of crypto is about to grow exponentially. All my trades pairs are in the purpose of growing my BTC position, some new projects are expecting massive growth and I will make sure to take advantage of them and follow the money, let me know what you guys think and don't forget to leave some constructive criticism, This is not financial advice. 9to5
Long
by NineToFive
BITCOIN - Short to $52,640, then long to $60,000 As seen on the chart, a rising wedge pattern breakout and pull back occurred. Then, the market moved high to $55,620 Therefore, I expect the market to first retrace back to $52,640, then go long to $60,000 What do you think? Share your opinion in the comment section.😇 Please support this idea with LIKE👍 if you find it useful.🥳 Follow me to receive more contents like this.🤙 Happy Trading💰🥳🤗 Trading Involves High Risk⚠️ Not Financial Advice💸 Use Proper Risk Management💹 Thank you for your support!💓
BITSTAMP:BTCUSDShort
by PetrockTheAnalyst
1
RISING WEDGE IN THE MAKING ON BTC/USD!RISING WEDGE IN THE MAKING ON BTC / USD. WHAT CAN WE EXPECT? BULLISH; WE CAN HAVE A STRONG BOUNCE ON THE BOTTOM OF THE SUPPORT BOX (GREEN). THIS WILL BE SEEN AS A FAKEOUT OF THE PATTERN. WE SEE THIS KIND OF FAKEOUTS OFTEN ON BTC. IN THIS WAY THE LIQUIDITY IS SEARCHED FROM BOTH SIDES. REMEMBER, THE MARKET ALWAYS WINS. IF WE HAVE A BOUNCE WE CAN EXPECT A PRICE TARGET OF APPROXIMATELY $11000 TO $12000. THIS WOULD PUT US INTO THE PREVIOUS SUPPORT ZONE (PURPLE BOX), WHERE ALSO THE 0.5 FIB LVL IS SITUATED. AFTER A HEAVY DOWNWARD PRICE ACTION, WE OFTEN SEE THAT THE COURSE IS TEMPORARILY RECOVERING AND IS GOING TO LOOK UP THE 0.5 FIB LVL. ONCE THIS IS ACHIEVED, IT WILL BE TESTED AS RESISTANCE AND CONTINUES WITH THE FALLING PRICE ACTION. THIS WOULD ALSO BE LOGICAL SINCE THE LOCATION OF THIS LVL IS IN PREVIOUS SUPPORT ZONE. THIS ZONE WOULD BE TESTED AS A RESISTANCE ZONE. BEARISH; CURRENTLY, IT LOOKS LIKE WE ARE BREAKING THROUGH THE BOTTOM OF THE PATTERN. THIS IS NORMAL SINCE IT'S A RISING WEDGE. WE CAN EXPECT A PRICE TARGET OF APPROXIMATELY $9600. WE COULD FIND SUPPORT ON THE IMPORTANT TREND LINE (DARK BLUE), AS LONG AS WE STAY ABOVE THIS LINE, THERE IS NO REASON TO PANIC. IF WE HAVE A CLOSURE UNDER THIS LINE, WE CAN EXPECT FURTHER DOWNWARD PRICE ACTION. ALSO THE IMPORTANT SUPPORT ZONE (GREEN BOX) WOULD BE BROKEN. IT'S IMPORTANT TO KNOW THAT, CURRENTLY, EVERYONE FOCUSES ON THAT "IMPORTANT" CME-GAP AND SO PROBABLY A LOT OF BUYER ORDERS HAVE BEEN PLACED AROUND THAT LEVEL. IN MY OPINION, IF WE GO TO LOOK UP THIS LVL,WE WILL JUST BREAK THAT LVL AND HAVE HEAVY DOWNWARD PRICE ACTION TO CATCH EVERYONE BY SURPRISE. DON'T FORGET, WE ARE TALKING ABOUT BTC! BE PREPARED!
BITSTAMP:BTCUSD
by ADBCrypto
5
GOLD SHORT - Rising Wedge (Technical Analysis)Hi traders. Gold has recently been in consolidation after a bullish few days and struggled to break around the resistance region of $1656, but also appears to hold support around the region of $1645. As of now, on the 1D time frame, we can see the formation of a rising wedge - I think now is the perfect time to short this pair, once the rising wedge is broken out of, in order to confirm the sell position. RSI seems to be approaching overbought region, further confirming this idea. I will be seeking to enter shorts from $1650 or above. Aim is to swing it down as low as possible. I would hope the second purple support trend line is breached, but I would aim to take profits off the table every time it goes down. Move stop loss into entry once in significant profit as well to ensure you cannot run into a loss. Good luck trading! This is just technical analysis . Do not follow this trade blindly! If you managed to read it this far down, thanks for reading this! If you could, please do offer your ideas & perspectives on this pair. Buy or Sell and why? Additionally, drop me your charts for it, that'd be great so I can see where you are coming from. Please drop a follow! I need reputation points!!
FX:XAUUSDShort
by TheFinancialTRDR
1
Two shapes of Rising Wedge PatternsI have explained about Rising Wedge Patterns on this Tutorial in detail. Rising Wedges are bearish pattern and it generates bearish signal; Rising Wedge Patterns forms with Higher Highs and Higher Lows. Rising Wedge pattern basically forms in two shapes ; If rising wedge pattern forms in an uptrend it will make reversal and if rising wedge pattern forms in a downtrend it will make continuation. The higher highs and the lower lows along makes a trend resistance and trend support. When breakout occurs downside, price breaks the trend support line. In rising wedge breakout occurs downside 60 to 70% of the time. To confirm a true breakout, we can take help of Volume indicator. In a true breakout there will be big volume than usual. We should use other indicators like MACD and RSI also to confirm that it will turn bearish before taking entry in a trade. (We can see MACD divergence, RSI Divergence and where the RSI is...) Thank You; Stay Tuned 👍, more tutorials and strategies coming!
Education
by tapasdhanadana
1
Two Shapes of Falling Wedge PatternsIn the previous educational post, i posted about Rising Wedge patterns and in this post i have explained about Falling Wedge Patterns. (Falling Wedge is opposite of Rising Wedge pattern; for every chart patterns there are opposite patterns excluding some.) Falling Wedges are Bullish Patterns and it generates bullish signal, Falling wedge patterns forms with Lower highs and Lower lows. Falling Wedge pattern basically forms in two shapes same as Rising Wedge ; If Falling wedge pattern forms in an uptrend it will make continuation and if Falling wedge pattern forms in a downtrend it will make reversal. The Lower highs and the lower lows along makes a trend resistance and trend support. When breakout occurs upside, price breaks the trend resistance line. In Falling wedge breakout occurs upside 60 to 70% of the time. To confirm a true breakout, we can take help of Volume and other indicators. In a true breakout there will be big volume than usual. We should use other indicators like MACD and RSI also to confirm that it will turn bullish before taking entry in a trade. (We can see MACD convergence, RSI convergence) Stay Tuned 👍 ; Thank You; Check out Rising Wedge if you didn't ()
Education
by tapasdhanadana
1