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The bear market isn't over for me yet.
Price has formed a wising wedge in leading into an area of resistance.
The rising wedge is supported by RSI.
We also have some hidden divergence, suggesting a continuation to the downside.
After a successful break this currency pair looks like the price may retrace, this is due to the oversold and extended conditions the price is currently facing. The price is likely to retrace to around 147.400 before further bearish movements. I would keep everyone updated on my findings for this currency pair over the coming days.
Potential sell on GBPJPY
Rising wedge pattern, waiting for price to break lower trend line before going SHORT
GBPNZD potential rising wedge pattern
wait for price to break lower trendline before going SHORT
rising wedge pattern is formed as continuation so it should go short after it breaks through pattern.
I'm not sure if this is a rising wedge (bearish), a pennant (bullish) or even an ascending triangle. Any comments?
XRP/Dollar is showing a rising wedge reversal and it hit resistances a couple of bars down which indicates massive downward movement towards the next support level (1.12 to 1.15 support zone)
Hopefully this will retrace and show momentum to the upside again but cryptocurrencies can be extraordinarily volatile especially cause of the new years and future technical ...
114.300s resistance has been hit for a 3rd time. I wouldn’t go short just yet until I see a break below the 113.600s support.
The corrective rising wedge broke out , scaled in, target up is 3100 + for this pattern for assured profit. Only some USD from ATH breakout for ultimate confirmation, Ichimoku cloud signals positive on each and every timeframe.
Since we are on a post-majorcorrection breakout, leverage is maximum.
1.618 Fibo of complete corrective downward retracement and fully ...
Aviva have been channelling down for some years and is currently in a rising wedge about to meet the long term resistance. I would expect that it will turn at the resistance and fall given how established the resistance is.
The alternative scenario is that it is about to break major overhead resistance and would be a fantastic long position, perhaps I am ...
this is the same case with the AUDUSD pair rising wedge which also has the the RSI divergence, possibly signs of the market falling at this level.
Monitoring the EURGBP pair we have identified an RSI divergence on the Hourly chart.
We anticipate to see a retest of the 0.84260's level after the false break out (see market conditions) followed by a break-out of the rising wedge formation with even bigger profits.
Profits and stop losses are set according to previous structure supports with the latter being ...
Formation of a Rising Wedge, indicating bearish breakout from the multi-week uptrend. Rejection off the 5 month uptrend also observed. Sell on break of uptrend line.