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Falling Wedge

Bandhan Bank ready to explode? Perfect Fib Setup 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 volumes. Since it gave a nice move after breakout so we need a minor pullback and that can happen if the price retests but 295 fib level is way too far and so I plotted Volume profile . Now it's clear, enter at POC (highest traded line) and that will be our entry point. A logical SL below 265 because what if it retests deep? We need to think like this. Targets are 350, 425 for as long we don't see a reversal in future! Get set go! HAPPY TRADING 💹 SUMMARY:- Entry only if it retests depending upon the depth i.e. best entry 309 (at POC) SL below golden fib level i.e. around 250 T1 350 T2 425
NSE:BANDHANBNKLong
by UnknownUnicorn21160479
25
Gujarat Gas Ltd - Falling Wedge - LongAnalysis on Daily TF and Trade for Positional Trade: Daily TF: Dynamic support and resistance (EMA50 & EMA79): Will Act as Resistance Chart Pattern: Falling Wedge MACD: Bullish Stoch RSI: Nearing Overbought Range CPR: Bearish Bias and Script breaks the CPR below Build Up: Support at 622.50-609 Range ATR: Flat Higher TF (Weekly) Dynamic support and resistance (EMA50 & EMA79): Will Act as Support Chart Pattern: Falling Wedge & Flag MACD: Bearish Stoch RSI: Oversold Range Build Up: Yes ATR: High Lower TF (2Hrs) Dynamic support and resistance (EMA50 & EMA79): Will Act as Resistance Chart Pattern: Ascending Triangle MACD: Bullish Stoch RSI: Overbought Range CPR: Breakout Above - Bullish Bias Build Up: Yes at Support ATR: Flat Based on our analysis: Entry - Wait for the Breakout of the pattern in Daily TF or Entry post breakout of structure in 2HR TF. SL - 607.50-1ATR Daily TF Chart: Weekly TF Chart: 2Hr TF Chart: Disclaimer: Kindly do your own analysis before executing the trade and contact your financial advisor.
NSE:GUJGASLTDLong
by Caapinves
Swing SetupEXPLANATION : This is a 1 hour time frame chart of ITC . The stock has been consolidating for days in a descending channel and formed Falling Wedge pattern , If stock taking support from Demand zone we buy at the bottom and sell at the top. I am seeing a very good buying opportunity in ITC because of many reasons . If give a strong breakdown and broke its Demand zone with high volumes and retest the same , I am bearish on ITC . Always be extra cautious with breakout trade with confirmations . If you like this analysis give a Like // Follow for more updates , let me know in comments below :)
NSE:ITC
by pranav_nanavare
4
ADANIPORTS FALLING WEDGEJUST A VIEW Falling Wedge 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 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, price may breakout above the upper trend line. The descending wedge pattern appears within an uptrend when price tends to consolidate, or trade in a more sideways fashion. Connecting the lower highs and lower lows will reveal the slight downward slant to the wedge pattern before price eventually rises, resulting in a falling wedge breakout to resume the larger uptrend.
NSE:ADANIPORTSLong
by timetravellerfromfut
What are Falling and Rising Wedge Patterns?What Is the Wedge Pattern and Its Common Characteristics? 1. Wedge patterns have converging trend lines that come to an apex with a distinguishable upside or downside slant. a. Wedge with an upside slant is called a rising wedge b. Wedge with downside slant is called falling wedge 2. It has declining volumes as the pattern progresses 3. It breaks out from one of the trend lines Why We Should Pay Attention to Wedge Patterns? Some studies suggest that a wedge pattern will breakout towards a reversal rather than a continuation more often than two-thirds of the time. Therefore as the rule of thumb, people generally treat a falling wedge as a bullish pattern and a rising wedge as a bearish pattern , especially a falling wedge would be a more reliable reversal indicator than a rising wedge Since we know a wedge pattern has a higher probability to reverse and due to the fact that the price of wedge pattern converges to a smaller area, we can trade the reversal set up with a relatively close stop loss to its entry price, which provides us with a good trading opportunity with a decent Risk:Reward ratio. Examples of a Bullish Rising Wedge and Bearish Falling Wedge Sadly, there is nothing that works 100% in trading. Not every rising or falling wedge will reverse as one might expect. Every trader must properly manage their risk by setting stop losses and not just trading based on price patterns. Below are two examples. Bullish Rising Wedge ( ETHUSDT during 15/NOV/20 - 28/DEC/20) In the early stages of the epic 20-21 bull market, if traders blindly treat the rising wedge as a bearish signal and trade accordingly, they would pay a heavy price. Bearish Falling Wedge ( LTCUSD during 14/AUG/18 - 14/NOV/18) On the contrary, in the late stage of the 2018 bear market, any trader who blindly trades the falling wedge to bet on a reversal would also learn a hard lesson. Comment down your thoughts on Wedge Patterns in the comment section. Disclaimer: This is just an educational post. Never trade just any pattern. And please do your research before making any trades. Happy Trading!
Education
by Coinlog
4
Bitcoin went on sale todayBitcoin is still moving within the falling wedge and as you can, a double bottom (indicated by the yellow lines) and has formed on the 1H. So, the technicals are bullish on the short timeframe, I’ve scooped up some cheap crypto and on the 4h we got a massive rising wedge. But I’ve got more stables to buy in IF we eventually decide to go lower. This is my publication #21. Let me know what you think of it and if you have any questions, suggestions, feedback or other inquiries let me know and do not hestitate to send me a message and to leave a comment! I’m also just a trader.
BITSTAMP:BTCUSDLong
by Awinish
Bitcoin's falling wedge Since everybody is screaming mayhem and is bearish I tend to think otherwise and I’ll explain why. We’re seeing a lot of downside action (what I’ve been saying for a while now) thus doesn’t look very surprising to me. Meanwhile the fear & greed indicator is indicating 22 which means fear hit the crypto market while I’ve scooped up some extra crypto. I think that tomorrow (22 September) the fear en greed indicator will say extreme fear and that will be for me one of the last moments to buy a bit more before we’re going up. I think it’s due to the Evergrande default fear. Why do I think that we’re going up? We can clearly see that there is a falling wedge (bullish pattern) forming on the daily timeframe. I expect that we can go down further to at least the 0,618 fib level at around 38K. Also, what I’ve seen here is that the selling volume isn’t that significant if you compare it to the May 19th dump or September 7th of this year. Besides this, the on-chain data is still looking very good. I think that we’d somewhat follow the Elliot correction waves (I probably have made a mistake in drawing these corrective waves please feel free to correct me! I've drawn the lines to give an impression of my thoughts). I’d say buckle up, tighten your seatbelt and hold on because it’s going to be a bumpy ride. This is my publication #19. Let me know what you think of it and if you have any questions, suggestions, feedback or other inquiries let me know and do not hesitate to send me a message and to leave a comment! I’m also just a trader.
Long
by Awinish
2
Falling wedge on ETHI’m currently seeing a falling wedge on the 4h. It’s clearly visible that we got a rejection on the 3388 level. I think that if we break out of the wedge we will hit the technical target which will be at around 3500 approximately. It looks like we found support at the 3248 and 3199 level approximately. Keep in mind that we’ve also got a bullish divergence as indicated by the yellow line. If we see a breakout I’d like to see a lot of volume coming in because of previous support and resistance at the 3388 level approximately. This is my publication #17. Let me know what you think of it and if you have any questions, suggestions, feedback or other inquiries let me know and do not hestitate to send me a message and to leave a comment! I’m also just a trader.
Long
by Awinish