Here you can see that there was a rising wedge pattern on daily time frame for BTCUSDT which broke down nicely and currently is at support line. This is time to buy. There is falling wedge pattern on daily time frame which is yet to break out. So, trade accordingly. I think it is a bullish divergence.
You can see why my analysis is so accurate by analyzing RSI...
Why this Trade..??
1. FALLING CHANNEL
Buy or Sell based on the Support Break with Volume
Disclaimer:This view is purely for educational purpose and it's my personal.Please consult your financial advisor before attempting any trade.We're not responsible for any loss or profits.
Now we are going to analysis the BankNifty for coming weeks:
In Weekly TF:
Refer the Image,
1. Bearish Flag Pattern evidence
2. Index Closed in Support
3. Dynamic Support was in the range of 34435.13 & 32611.27 as per EMA50 & EMA79
4. MACD was Flatten
5. Stochastic RSI as per my View was nearing...
Two falling wedge breakouts observed on the Bitcoin chart.
The first one showing a strong and healthy breakout (with an above than average volume).
The latest falling wedge breakout has been a disappointment so far. Volumes have been
below average and the price seems to be struggling.
A break below the critical support level marked by the yellow line could be...
Bitcoin is forming a falling wedge on the 4h.
If it breaks the diagonal resistance I might long it (again).
So frustrating to see that I got stopped out and it immediately took off.
But, it's the price of risk management. It's always seems unnecessary until it isn't.
Bitcoin is forming a rising wedge on the 4h (what is a bearish pattern). If it breaks the lower support then we're likely to see the 57-58K range.
This may be a nice bounce since we're seeing a nice a wick from the bottom.
Let's hope this will be a trend reversal but we should also be aware of the Bitcoin fundamentals which can (slightly) change (ie. the...
On this chart it looks like BTC got a confirmed breakout of the falling wedge, I'm curious how it will play out.
If we see some strength in the movement (aka more volume) I might reconsider to open up a long. Still longterm bullish short-term it looks a bit indecisive/choppy.
I think that if we don't make a higher high on the 4h it probably will be a bearish...
IndusTower After steep rally of 50% gain in a month, now consolidating with falling wedge pattern since a month. So, Ones it get a breakout then we may predict possible upside of 15-20% with a small stoploss below 290.
When a security's price has been falling over time, a wedge pattern can occur just as the trend makes its final downward move. The trend lines are drawn above the highs and below the lows on the price chart pattern can converge as the price slide loses momentum and buyers step in to slow the rate of decline. Before the lines converge, the price may...
0.5 and 0.618 in Fibonacci is a golden zone from where price retraces so here Bandhan bank was following a trendline so to predict that pullback we used fib! We plotted Fibonacci from 165 to 423 (uptrend) and if we observe the reaction to our golden zone we can see it is a very important key zone. It broke out of Falling wedge with a nice breakout with good...
Analysis on Daily TF and Trade for Positional Trade:
Dynamic support and resistance (EMA50 & EMA79): Will Act as Resistance
Chart Pattern: Falling Wedge
Stoch RSI: Nearing Overbought Range
CPR: Bearish Bias and Script breaks the CPR below
Build Up: Support at 622.50-609 Range
Higher TF (Weekly)
Dynamic support and resistance...