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Rising Wedge

Banknifty - At confluence of ResistancesAs mentioned in the chart, looking at the level at which Banknifty currently is, there is at long term trendline resistance,a rising wedge which seems to have come to an end and a possible Head and Shoulders pattern in the making. Would look for shorting opportunities here with a stop few points above 27900 for a target around 26400 and 25600 levels. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:BANKNIFTYShort
by nano6yogesh
Rising Wedge Breakout - As a Continuation Pattern - RR 1 : 3.90MGL sell Below 834.60 Stoploss - 855 Target - 756 Risk - 2.42% & Reward 9.42% RR Ratio 1 : 3.90 Reversal or Continuation Pattern Rising Wedge Prices are moving upward, forming higher highs and higher lows, but the price is confined within two lines which get closer together to create a pattern. This indicates a slowing of momentum and it usually precedes a reversal to the downside. This means that you can look for potential selling opportunities.
NSE:MGLShort
by Equity-Earningz
Rising Wedge Breakout - Continuation Pattern - Risk Reward 1: 3Short Bajajfinsv Below 5550 Stop-loss: 5745 Target 1: 5160 Target 2: 4955 Risk 3.50% & Reward 10.75 % RR Ratio - 1: 3 RR is Calculated on 2nd Target. Reversal or Continuation Pattern Rising Wedge Prices are moving upward, forming higher highs and higher lows, but the price is confined within two lines which get closer together to create a pattern. This indicates a slowing of momentum and it usually precedes a reversal to the downside. This means that you can look for potential selling opportunities.
NSE:BAJAJFINSVShort
by Equity-Earningz
RISING WEDGE PATTERN ( REVERSAL OR CONTINUATION )Reversal or Continuation Pattern Rising Wedge Prices are moving upward, forming higher highs and higher lows, but the price is confined within two lines which get closer together to create a pattern. This indicates a slowing of momentum and it usually precedes a reversal to the downside. This means that you can look for potential selling opportunities. IDENTIFICATION GUIDELINES 1. The Shape of The Rising wedge – Two price trendlines both sloping upwards, the upper one following higher highs and the lower one following higher lows. Both trendlines must slope upwards and eventually intersect. 2. Formation of The Rising Wedge – Prices should rise to hit the upper trendline at least three highs(1-3-5), then fall away. Prices should fall to the lower trendline at least twice(2-4), then rise again before a final breakout. When you see less than 3 swing highs and 2 swing lows between the upsloping trendlines, be cautious about it. 3. Duration of The Rising wedge- The Rising Wedge has a minimum duration of 3 weeks and it rarely exceeds 3 or 4 months long. Anything less than 3 weeks of duration likely to be a pennant formation, not a rising wedge. 4. Volume inside The Rising Wedge – Volumes tends to be decreasing through the formation. 5. Pre-mature or False Breakout – Because volume is usually low in The Rising Wedge formation, it takes very little activity to bring about an erratic and false movement in price, talking the price outside of trendlines. 6. Breakout – Price closing below the lower rising trendline confirms the breakout. HOW TO TRADE A RISING WEDGE Trading Rules. 1. Entry – Sell short the stock day after Prices closing below the lower rising trendline. If you miss it, wait for the pullback then short when price resumes the breakout direction after the throwback completes. When you missed and, If you Don’t Get A pullback to the lower rising trendline then Don’t Chase The Stock Price for selling short. 2. Price Target – The technical target is the price which was a starting point of the lower rising trendline. 3. Taking Profit – For short-term traders, cover short when the price reaches near to the price which was a starting point for the lowe rising trendline. For intermediate and long-term traders, hold the stock as per your risk & capital management applied before entering into a trade. 4. Stoploss – usually, price closing above swing high or top is a stop-loss. But very often, The gap between swing high and breakout price is very high. So it won’t be suitable for a good risk-reward ratio. Without a Good Risk to Reward ratio in trading or investing can never create a wealth. Always Pay close attention to Risk-Reward Ratio. We must have RR above 1: 2.
NSE:NIFTYEducation
by Equity-Earningz
Bearish move - short Ether is currently trading in a well formed rising wedge. This is an indication of a bearish move and there are possibilities it may breach the bottom trend line (orange). If it breaches it then it will find support at fib level 0.618 (~$693). 2nd support could be found at fib level 0.5 (~$676). These support levels could be possible reversal zones for Eth (The zones are marked in Blue in the graph). So, watch out. Please feel free to revert with your feedback. Thank you!
BITSTAMP:ETHUSDShort
by rony.kris
GANN, ELLIOT and THE TOPPING PATTERNSI always love to trade such a chart but on 5 min. time frame :) Not possible ?? Yes, its possible.. but we will discuss on this topic later in some other post. CORRECTIONS and the ELLIOT COUNT: In this chart I can see three major correction. Each one having a different topping pattern. The first correction has a Rising Wedge; the second has Triple Top and the third one has Gramophone pattern at the top. The first correction eroded more than 61.8% of the last bull market. I consider this as the major correction. There was a nice base building near 2253 level, I call this as Base 1 or the end of Major corrective Wave 2. So Base 1 is now the Zero point of the Major Wave 3 strating @ 2253. The Second and third corrections (I-II and III-IV) were nearly 38.2% and 50% resp. of their last bull moves. I call these as intermediate corrections inside the Major Wave 3. I call end of Wave II as Base 2 @ 4531 and end of Wave IV as Base III at 6826 According to this count we are currently in Wave V of Major Wave 3. GANN: the Projection Factory Gann saw the price moves in 1/8's. According to him these areas can act as important S/R levels. I am using this hypothesis but in opposite direction, that is to project the price from the base. For convenience and on the basis of the Nifty harmonics I am marking only two of these levels -- the Quad and the Octave. The Quad level projection from Base 1 comes at 6204. Market made a Triple Top Pattern near 6338 and entered in to an intermediate bear phase which corrected more than 38.2% of the move from Base 1. Notice that this Quad also coincided with the top of last bull market. The Quad projection from Base 2 comes at 8926. The Gramophone pattern shown in the chart ended at 9119 followed by an intermediate bear phase which corrected 50% of the move from Base 2. Currently we are near the Octave end of the Base 1 at 10155. Which theoretically suggests that because a full Octave completes near this level, it should be followed by a "major" correction. I would like to assert here that so far there are two beautiful evidence of strong market vibrations near Quads, I don't have any evidence of market vibrations at the octaves on this daily chart. So the market reaction near current Base 1 Octave will only add to my experience. Due to aforementioned reason, I am left to rely upon the Elliot market structure and the price action. Both of them suggest that the next intermediate correction, set aside the major correction, on this chart may not be a possibility in the near term. However a short term correction may follow up to 9000 to 9100. Future Projections Gann projections from 6826 (Base 3) should give target for Elliot Wave V. Now you must be curious about the level..aren't you? Ok, the Level is 16000..Surprised? me too. But this level may take some years to get achieved. In between we may have corrections, which will look like minor/short term corrections on this chart but may erode 50% of their respective last short term up moves. Personal Views: On a personal note, I am not happy with Base 3. In Base 1 and 2 we had more than 61.8% correction from the top of automatic rallies from the Base points, which I may easily label as retest attempts. In Base 3, it corrected only 50% and base formation was very quick. These factors project the Gann target too high for Wave V. > I think a short term top is in the making > Short term correction may take the index to 9100 to 9000 > I would still stick to my July 18 post NIFTY ANALYSIS for Wave V projections. > Readers can have their own differing opinions, which I always respect. Hit Like/ Comment if you find this post useful. Trade safe, be healthy. Regards Bravetotrade
NSE:NIFTY
by Bravetotrade
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