Bund invalidated the double top formed earlier with a breakout above 151.81 However, formed a rising wedge and tested the breakout line and wedge TL. Current PA suggests long until proven otherwise.
Break of wedge and fork median is bearish.
PA marked new high on Friday to the pip of 113 ext. from Oct. 1st high @1.86828. Very close to 1.88 even handle. Is it going to reach the 88, time will tell, but a rising wedge collapse is imminent for a nice short into 856 support
After creating a double top today I have a short term bearish view on $FB.
MACD on the hourly is starting to turn bearish and we may see a downward cross by the end of the week. We are also in a sharp rising wedge right now so a breakout to the downside of that wedge could result in some bleeding for the stock.
Lastly, the market is ON FIRE right now and I...
The $SPX formed an Evening star pattern when it created its rising wedge pattern. The pattern was then confirmed with a move lower the following day. The large green candle that formed after the confirmation candle was then sold off again. This is usually a signal that future rallies will be sold off. A chart pattern and a candle pattern have aligned to possibly...
Looks like a rising wedge on falling volume with each up tick having less and less momentum as shown by the divergent RSI and stochastic.
First target is near the bottom of the wedge. If price goes above the topping doji at $53.64, then the pattern is busted.
Look out below.. looks like it's going lower, especially with that nice mini bearish flag building right after the initial breakdown.
The weekly chart is just starting to roll over with plenty of room for a down move.
Good luck!
EXPE is extended in price with a moderate divergence in the RSI. Most bearish is the rising wedge with price nearing its apex. Sell stop at 86.89 and a stop loss at 88.54. Target is 82.89.
A possible H & S on the DAX. The second shoulder, if it occurs, will give a good opportunity to sell the index.
The sale price would be at the level of resistance of the falling wedge.
I propose a sale at 9450. the first goal would be 9260 (Support of the rising wedge). On break of this support we will target the low point of the rising wedge 8900
Advanced Semiconductor Engineering appears to be trading within a rising wedge as recent supply levels are being tested. If the current situation continues, its reasonable to assume that a drop in price to the 4.65-4.50 range may occur before demand levels are once again met. Any break below this results in demand levels at 4.00-3.50.
DXY punched through the wedge on fake breakout reaching just over 81.50 but back inside wedge, failing to make new high above 2013 Q4 highs. A ret. is likely before any attempt to break higher
Expecting a breakout off this rising wedge come Japan CPI data. Will enter short just below 78.6% fib level and take my initial profit at 61.8% then close my position at the next support level which happens to be 50% fib.
$MGM has been bouncing off a strong upward sloping support level since late April. Over the past week we have seen consolidation with small bodied candles and short trading ranges.
After testing the 50ema yesterday, we closed just a few pennies above that level. I am looking to see a nice bounce off of this support line as well as off the 50ema. Will be keeping...
USO is now below the LSMA and a bearish crossover has occurred but I don't expect to see much of a selloff. Price is likely to dance around the support/resistance line of $37.55 giving the stochastic a chance to reset for prices to move higher. The rising wedge has a lot of room to run and prices will rise to the $38.75 area quickly once this consolidation has completed.
I believe that for the moment the signals are clear, bears won. A confirmation would come with a close below the line of the Rising Wedge.
Guys I am doing a survey on some general stuff regarding trading. I did not find, so I am willing to invest some time in making some statistics which will help amateurs what is important for a trader to do. Please help me by...
The EURUSD seems to be forming a strong bearish divergence with both the MACD and the RSI. I believe this divergence will reverse after it reaches the 1.3965 - 1.4000 price range. Technicals are signaling further continuation to the upside after the bounce off the 38% retracement as well as a bounce off a new support lvl (1.3820 - 1.3780) which was previously was...
