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Wedge

The Wedge pattern can either be a continuation pattern or a reversal pattern, depending on the type of wedge and the preceding trend. There are 2 types of wedges indicating price is in consolidation. The first is rising wedges where price is contained by 2 ascending trend lines that converge because the lower trend line is steeper than the upper trend line. In other words: the lows are climbing faster than the highs. These wedges tend to break downwards. The second is Falling wedges where price is contained by 2 descending trend lines that converge because the upper trend line is steeper than the lower trend line. In other words: the highs are falling faster than the lows. These wedges tend to break upwards.

Conservative traders may look for additional confirmation of price continuing in the direction of the breakout. The target can be estimated through the technique of measuring the height of the back of the wedge and extending it in the direction of the breakout. A common stop level is just outside the wedge on the opposite side of the breakout.
Evan_Moe_Money Evan_Moe_Money RIB, 60, Long ,
RIB: Ladys and gentlemen, fasten your seat belts for the breakout
34 0 1
RIB, 60 Long
Ladys and gentlemen, fasten your seat belts for the breakout

I love this setup! We have lower highs over a good time period, and a strong support. So... what will happen? I guess, as the support and the resistance had been tested multiple times already, there is a guaranteed breakout. And since we are in a uptrend, I believe it will rocket away. Sky is the limit. So what about NASA? I will enter a long position, as soon ...

DL.FX DL.FX PRO GBPJPY, 15,
GBPJPY: GBPJPY SHORT - INTRADAY
55 0 3
GBPJPY, 15
GBPJPY SHORT - INTRADAY

1HR Timeframe shows a reversal candlestick formation, whilst sitting between / under a Retracement level. On the 5 Min there is a Flat Top Wedge which was formed as well. The trade was taken on the 5 Min, at the break and close of the wedge, however I cannot post a chart under the 15 minute timeframe.

Roker1 Roker1 PRO AUDUSD, 60, Long ,
AUDUSD: Trend Continuation Pattern on AUDUSD
165 0 5
AUDUSD, 60 Long
Trend Continuation Pattern on AUDUSD

Hey guys, Australian dollar has gained a lot over the pasy days, you can see this from the chart above and you can also see that lately price has been ranging in a very tiny space. When you see impulsive move like this you would expect price not to retrace so much because of the strength disequilibrium. And that is what i think could happen next here: flags, ...

Roker1 Roker1 PRO GBPNZD, 240, Long ,
GBPNZD: Structure Trade on GBPNZD
97 6 2
GBPNZD, 240 Long
Structure Trade on GBPNZD

Hey guys, here on GBPNZD we're now testing a very important structure area; as you can see on the left hand side of your screen price has already found resistance in that area and it could now turn into support and push price higher. Given the case, i want to be involved on the long side of this pair, hoping for a continuation on the upside. Now, you can use ...

narushima narushima PRO XBTUSD, 240, Long ,
XBTUSD: BTC rising wedge upward breakout 3100+ targets on.
196 0 3
XBTUSD, 240 Long
BTC rising wedge upward breakout 3100+ targets on.

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 ...

THESTOPHUNTER THESTOPHUNTER PRO RB1!, D, Long ,
RB1!: RBoB Gasoline
20 0 2
RB1!, D Long
RBoB Gasoline

Been stuck and bouncing in a tightening 'wedge' range - can it break out to align with stronger seasonals?

LorbeerInv LorbeerInv PRO USDCHF, 240, Short ,
USDCHF: Rally USDCHF,  2 times +70 Pips chance
29 0 2
USDCHF, 240 Short
Rally USDCHF, 2 times +70 Pips chance

Significant rally into the next resistance (red) provides a short opportunity around 50 to 70 pips Price may consolidate and then continue rally or continue underlying downtrend. Either way, chances are good to chase the new 240M high that is likely to form in the red zone for another 50 to 70 pips

priesh priesh PRO USDJPY, 60, Short ,
USDJPY: USDJPY on flat wedge, and crossing of 200 and 50 EMA on 4hr TF
36 0 1
USDJPY, 60 Short
USDJPY on flat wedge, and crossing of 200 and 50 EMA on 4hr TF

USDJPY's 200 and 50EMA lines have crossed on the 4 hour timeframe indicating confirming that there is a downtrend. In addition to this, if we go down to the 1 hour timeframe we can see that over the past 12 hours, the price movement is forming a flat bottom wedge (similar to the wedge that formed before the FED rate hike and price fell). The flat bottom wedge acts ...

shaunsmith100 shaunsmith100 GOLD, 30,
GOLD: GOLD - EAGLE EYE
64 0 1
GOLD, 30
GOLD - EAGLE EYE

So used a bit of Ascending Triangle chart pattern rules along previous major support and resistance levels and came to this conclusion. I think it will continue to tip toe on support level and possibly touch the ceiling again. All before major breakout. Will be watching this one with an eagle eye :)

shaunsmith100 shaunsmith100 GOLD, 60, Long ,
GOLD: WEDGE - GOLD
71 0 3
GOLD, 60 Long
WEDGE - GOLD

"The eye sees what it chooses to see" Might be a good long one here. But as we all know might not. Basing on wedge formation hitting support twice on higher lows and resistance level keeping lower highs at bay. Will wait for a possible breakout in maybe 24 hours? Disclaimer: Forex newbie so feedback welcome please :)

shaunsmith100 shaunsmith100 GBPJPY, D,
GBPJPY: Falling Wedge
42 0 2
GBPJPY, D
Falling Wedge

In theory this could be considered a falling wedge on a uptrend? So there for could be a decent long position to previous resistance. Alternatively it could be seen as a pennant pattern. So therefore it could go short. Any feedback appreciated :)

Steveeldn Steveeldn GBPJPY, 240, Long ,
GBPJPY: GBPJPY
55 0 2
GBPJPY, 240 Long
GBPJPY

Wedge on a weekly support, Break long?... Idea?

vj20_fx vj20_fx PRO GBPUSD, 120, Long ,
GBPUSD: GBPUSD LONG 120
104 2 5
GBPUSD, 120 Long
GBPUSD LONG 120

Cable has been in appeared bearish since 24/02 but now a falling wedge has formed. This usually signals a reversal is about to take place. Price is also sitting on .236 fib support which may bounce off. I will look to go LONG once bullish candle has broken through my wedge resistance and I will set TP at .382 fib resistance. Roughly 200pips!

HarryHadgeHutchison HarryHadgeHutchison GBPJPY, 240, Short ,
GBPJPY: GBP/JPY Short Coming Up!
309 0 5
GBPJPY, 240 Short
GBP/JPY Short Coming Up!

Potential short with GBP/JPY. Recently price has been trading in a wedge range. The support has been broken, re-tested and looks prime for a short. Before entry I need further confirmation from an EMA(8) and SMA(21) cross-over. My target (1) will be the next area of support at the weekly support 136.500.

CyclingTrader CyclingTrader AV., D, Short ,
AV.: Aviva meeting long term overhead resistance
38 0 1
AV., D Short
Aviva meeting long term overhead resistance

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 ...

Navpreet Navpreet USDJPY, D, Short ,
USDJPY: USD/JPY- short
43 0 2
USDJPY, D Short
USD/JPY- short

confluences - daily closed as a doji off the trendline (indecision) - 4HR 3rd bounce off trendline - stuck in wedge - target is lower wedge boundary

timmynorin timmynorin XAUUSD, 60,
XAUUSD: XAUUSD (1h) Break of wedge to the upside, long opportunity
103 0 5
XAUUSD, 60
XAUUSD (1h) Break of wedge to the upside, long opportunity

Price action is heading towards previous (historical) support level. Break of wedge to the upside gives me a signal to go long at retest. Targeting the historical support level.

Joe_Keegan Joe_Keegan PRO GBPUSD, 240, Short ,
GBPUSD: SHORT GBPUSD
118 1 4
GBPUSD, 240 Short
SHORT GBPUSD

shorted gbpusd this morning. after a ver strong bearish day a couple of days ago it seems to have sucked a lot of the upwards momentum out of the pound, which has now broken out the bottom of an ascending wedge pattern. i am targeting the base of the pattern back down at 1.20151 so we will see how this goes

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