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Wedgebreakout

📊Capitalizing on the Bullish Opportunity on 1-Hour Chart 📈🔍Traders, get ready for an intriguing setup on the 1-hour timeframe for GBP/USD. It's all about recognizing the signs, and we've got them: 📌 Technical Analysis Highlights 📌 🔷 Bullish Wedge Pattern: The price action has diligently formed a bullish wedge pattern, and the exciting part? It has just broken through, indicating a compelling buying opportunity in this region. 📈 Support from Moving Averages: Two moving averages are playing a crucial role as they currently act as support, reinforcing this setup's potential. To sweeten the deal, they are on the verge of forming a bullish crossover. 📊 MACD Bullish Divergence: On the MACD indicator, a bullish divergence is making itself known, adding weight to the case for an upward move. With all these technical signals aligning, I'm setting my sights on entering a buy position, with a well-placed stop loss at 1.05300. Here's where I'm looking: 🎯 Take Profit Targets 🎯 1️⃣ First Target: 1.05950 2️⃣ Second Target: 1.06250 3️⃣ Ultimate Target: 1.06700 Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if you want more qualitative insights like this one 🌊🚀
Long
by Thomas_Zito
3
ENJ's Bullish Wedge: Unlocking ATH🎮💹Enjin (ENJ), a distinctive contender in the cryptocurrency arena, is currently in the midst of an exciting journey, setting the stage for potential surges in value. 🎮💹 Soaring to New Heights: ENJ's Redemption Enjin, known for its association with the gaming industry, has weathered its fair share of challenges. However, like a protagonist in a captivating storyline, it's now ready for a remarkable comeback. Gaming Meets Blockchain: A Powerful Combo The fusion of gaming and blockchain technology is a match made in heaven, and Enjin is a front-runner in this game-changing fusion. Chart Analysis: A Glimpse into ENJ's Future A close examination of the charts reveals that Enjin is showing signs of life. The formation of a significant bullish pattern, the falling wedge, hints at a potential breakthrough. Trading Strategy: Navigating ENJ's Ascension For traders, recognizing Enjin's potential within the gaming and blockchain spheres should influence their trading strategies. Keeping an eye on pivotal indicators, staying updated with the latest news, and monitoring gaming partnerships are essential. Conclusion: Enjin's Epic Journey As Enjin redefines its narrative, it stands on the precipice of an era that could have profound ramifications. The convergence of gaming and blockchain, combined with the potential resurgence of the cryptocurrency market, positions ENJ as a project with a bright future. 🎮 Gaming and Blockchain | 📈 Cryptocurrency Surges | 📊 Trading Insights | 🚀 Price Targets ❗See related ideas below❗ Feel free to share your insights and engage with our community. Your active participation enriches our crypto discussions. 💚🚀💚
Long
by Yaroslav_Krasko
1
USDSGD ↘️ Rising wedge breakout .150+ Hello Everyone 🙋🏽‍♂️ 🔴 1.36704 🟢 1.35540 🟢 1.34735 We are not responsible of any losses for anyone, our trades are profitable more for long terms and we take losses as everyone, manage your lot size as well and your SL and TP Don't forget to hit the like bottom and write a comment to support us. Follow us for more 🙋🏻‍♂️ Best Regard / EMA Trading . Disclaimer: ---------------- It's not a financial advise, As everyone we take losses sometime but for long term trading we are profitable traders, so manage your account well with SL and TP and your lot size to keep your account safe and stay in the market .
Short
by EMA_Trading
13
NZD/CHF Short trade entry - Wedge breakoutWe just had a clean breakout of a wedge to continue a strong downtrend - will look to short if we mitigate our supply zone on a retest of the wedge and create a LTF CHoCH Coinciding with my previous post, we have been sustaining a healthy downtrend while mitigating our intended supply zones. Price has now shown higher time frame signs of reversal and created our first major CHoCH. We now look for: 1. A major BOS (currently hovering around the former low) and subsequent supply zone mitigation 2. Downside fakeout and strong support at .5435 level to breakout of wedge to the upside and flip mitigated supply zones Don’t forget from last post, we have a massive liquidity pool below us at our weekly demand zone!
Short
by ReigningTrades
2
EURAUD Wedge Forming Interesting development on EURAUD as price is starting to narrow between recent highs and a munch longer term trend line. The uptrend started on 6th Sept 2022 after putting in a low around 1.43000 in late August. Technicals The uptrend line has provided solid support ever since, with bounces in January and June of this year. The January example is most interesting as price also started to narrow in a wedge pattern before breaking to the upside for an eventual 7.5% run. I'm interested on both the Long and Short side, with a slight bias Long given the strength we've seen over the past year. A similar 7.5% run would see us hitting prices around 1.7800. Macro The wedge will break before the next ECB meeting on Oct 26th so we can't use that as a guiding factor. The next notable news event in the coming week is the release of the AUD monetary policy meeting minutes on Oct 17th which is close to the apex of the wedge. Trades I'm looking for intra-day moves, and so will use a breakout in either direction as a signal to watch the lower time frames for entries. There was a wedge break on CADJPY last month with provided several great long trades post break, so don't feel pressured to make a decision now. Wait for a CLEAR break, being cautious of fake out moves.
by RuckSack
BTC DOMINANCE - Challenging Time for AltcoinsBitcoin's Growing Dominance: Bitcoin has been flexing its muscles in the market recently, steadily increasing its dominance. This is a reflection of its strong performance and renewed interest from investors. 🏆 Retesting the Range: Range was brewing for 772 days What's causing concern in the altcoin space is the recent retest of the upper boundary of Bitcoin's consolidation range. This range has acted as a significant level of resistance for Bitcoin, and a breakout from it could further reinforce its dominance. 📉 What It Means for Altcoins: As Bitcoin's dominance grows and it asserts its position, altcoins often face headwinds. Investors tend to flock to the safety of Bitcoin during times of uncertainty, potentially leading to a decrease in altcoin prices. 🌪️ Conclusion: While Bitcoin's rising dominance presents challenges for altcoins, it's crucial to remember that cryptocurrency markets are dynamic. Trends can shift, and opportunities can arise even in challenging times. As an investor, it's essential to stay informed, adapt your strategy as needed, and maintain a long-term perspective. The crypto world is known for its resilience, and it continues to be a space where innovation and growth thrive. ❗️Get my 3 crypto trading indicators for FREE❗️ Link below🔑
CRYPTOCAP:BTC.D
by AlexWhale
3
GBPUSD Upward Wedge? 10.10.2023Seems that the GBPUSD has formed an upward wedge. Volatility started to get to lower levels after the NFP news on Friday. The Breakout of the upper or lower band of this formation could cause the market to move rapidly in the same direction as depicted by the arrows. __________________________ Information Regarding Important News and Figures can be found here in our Economic Calendar: mau.bdswiss.com/economic-calenda... Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure. BDSwiss is a trading name of BDS Markets and BDS Ltd. BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene. BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Tenancy 10, Marina House, Eden Island, Mahe. Payment transactions are managed by BDS Markets (Registration number: 143350).
by Stuart_Cowell
NAS100 Falling Wedge? 27.09.2023It is clear that all U.S. benchmark indices are currently facing a downward trend. In the case of the NAS100 the Falling Wedge formation seems to hold. we could see the index falling even further when volatility kicks in after market opening at 16:30 GMT+3. 14620 serves now as an important resistance level (was acting as support previously). The next support is probably at 14525. Breaking that as well might cause index to drop further at near 14440.
PEPPERSTONE:NAS100Short
by Stuart_Cowell
1
CELR/USDT 1-Day Long SetupCELR/USDT 1-Day Long Setup CELR/USDT has been trading in a range for the past 7 days, but bullish divergence is suggesting that upward movement is likely in the coming days. The price has also found strong support on the 1-day timeframe, and a breakout from the current wedge pattern to the upside is also possible. Overall, this is a bullish setup for CELR/USDT, and a long position could be considered. Please note that this is not financial advice, and you should always do your own research before making any investment decisions.
Long
by ChartsInsights
4