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Falling Wedge

BankNifty Analysis for Upcoming Weeks Hi Friends, Pranam, 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 oversold Range. 6. ATR was average. Long Term trend is Bullish as per EMA200. In Daily TF: 1. Falling Wedge Pattern formed 2. BankNifty was in the support zone. 3. Index was taken the dynamic support 38394.41 and 37639.12 as per EMA50 & EMA79. 4. MACD was Bearish 5. Stochastic RSI was oversold Range. 6. ATR was average. 7. CPR was Bullish Bias Long Term Trend is Bullish as per EMA200. In 1hr TF: 1. Descending Triangle Pattern formed. 2. Bank nifty was taken support and traded near the trendline of the triangle. 3. Dynamic Resistance was at range of 39124.25 and 39283.90 as per EMA50 & EMA79 4. MACD was Bullish 5. Stochastic RSI as nearing Overbought zone 6. ATR was down. 7. CPR was Bearish Bias. Long Term Trend is Bearish as per EMA200. Conclusion: Trend was in Downside as per 1hr TF. Retracement candle was very small. For Short Term BankNifty will be in downside if brakes the support zone of 38400. Disclaimer: Kindly do your own analysis before executing the trade.
NSE:BANKNIFTYShort
by Caapinves
Bitcoin's rising wedge on the 4hBitcoin 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 Taproot Upgrade). But, I'm still bullish for the future! To be honest with y'all I've de-risked a lot of my perps and are foremostly in spot because we're right now in a breaking point in my opinion (if we go down, we go down hard, if we go up, we go up but slighly slower) The VPVR shows a lot of buying pressure at around 63K and not so much selling pressure above the current price. If we break the current red zone, the next resistance that I'm watching is at around 65.5K.
FTX:BTCPERP
by NotAChartist
Confirmed breakout?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 re-test and we might go for a lower correction. As I stated earlier, the zone that I'm watching right now is the green zone of support. I would see us heading in the short term in the direction of 62.5K but preferably somewhere around the 64K level since that is much more decisive in my opinion.
FTX:BTCPERPLong
by NotAChartist
2
FALLING WEDGE IN CIPLA 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 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 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 the price eventually rises, resulting in a falling wedge breakout to resume the larger uptrend.
NSE:CIPLALong
by timetravellerfromfut
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 pranavnanavare
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