Falling wedge with 5 hit points, approaching a 6th and final one for a strong breakout. Excellent previous structure support (indicated by the horizontal black line) asking for a rebound into the upside. I think that this falling wedge will accentuate the rebound off the support line. Major bullish divergence on the RSI occurring in the oversold region. ...
Falling wedge with 6 hits (currently). Looking for a 7th hit and will be watching closely for a breakout on the 8th. The length of this wedge suggest to me that there could be a strong breakout.
We've had 5 hit points on this falling wedge. Given this number and the fact that the market is very near the apex of the triangle expect a break into the upside on the next hit, but it could of course be on hit 7. Green lines indicate the profit targets. Second one is most likely and the third one will be a really good hit. Massive risk/reward on this trade.
I have posted a bearish trade on this same pair from a descending triangle (see link), the profit target of which is outlined here as the lower green line. If this wedge breaks out at 7 then the other trade will be closed out and I will have to hope for a win on this trade to make up for that loss. If the market hits the support line before the profit is met...
Previous idea posted on Silver (reported in related) played out well. Now I'm looking for a possible breakout to the downside of this messy consolidation price action. There is enough room for the price to head south and hit the lower trendline of a weekly falling wedge formation.
(1) A falling wedge has formed since October, wich is a longer-term pattern, and since $MU is in a down trend since 2014, this should be considered bullish. (2) A head and shoulders pattern has completed, with target 10. Combining these two patterns gives a price target and a time-frame. Additional points: * Historically 10 acted as support and resistance. *...
GOOD DAY EVERYONE! Potential pattern formations on USD JPY 60m If D completes, then I will look for an entry to SHORT this pair! All the best in your trading! CharlieFx
Technicaly i detected a falling wedge , According to me, this pattern has not been invalid yet.. And could be interesting to play bull Let's see now how fondamental news of upcoming weeks can reenforce or invalid this scenario.. Oil price Next New farm Play-Roll publication etc.. Long at 1050-1060 stop loss at 1045.
There will be no fade. It broke out of the channel and will thus continue rising.
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Greetings Fellow Traders, If you've been following me for some time you know that my view on the EURUSD has remained bearish since we formed and broke the Super Trend Triangle. As we approach the weekly open for the last week of November and first week of December we have some interesting price action that is giving us a very strong reason to actually go LONG or...
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SUNE has done a complete 180 from the new PRs; new leadership, new deals, paying off debts, and it looks like things are picking up. Besides the pretty news, I hadn't noticed before that SUNE was in a channel or perhaps a falling wedge, depending on how you look at it. It has just bounced off the lower support and it's working its way up to the upper...
In this pair, sterling it seems to have been accumulating power to revalued slightly. Some observations are: It is nearing the end of a mini cycle Elliot. It seems formrse falling wedge within a descending channel! "RSI" is forming something like a divergence "ICC" has made a divergence too the price is close to a fibo level, and it is possible their...
Today's open may very well have hit the lows as it took a strong bounce from there. Other Yen pairs displaying the same price action. Further confirmation could come from break of upper trend line, aggressive positioning from current levels against the lower trend line. BOJ up this week, could be the catalyst.