ICICI Bank is squeezed ICICI Bank is squeezed and soon can give good movement there is formation of rising wedge and we can see bearish rsi divergence
Rising Wedge
Godrej Properties Godrej Properties is in superb setup and may form double top pattern and we can see bearish rsi divergence
L&T forming an rising wedge patternRising wedge pattern usually means a fall is expected soon and there is also a bearish RSI divergence
Top Continuation PatternRising Wedge Pattern : - Rising wedge is a bearish pattern found in a downtrend. A rising wedge is formed when the price consolidates between upward sloping support and resistance lines.
Falling Wedge Pttern :- Falling wedge is a bullish pattern found uptrend. A falling wedge is formed when the price consolidates between downward sloping support and resistance lines.
PEL: At Make or Break LevelPiramal Enterprise Ltd formed a Rising Wedge on the daily timeframe.
Right now, the price has given a breakdown and is near a support/demand zone that previously acted as a resistance/supply zone.
Levels for - 06 Sep 2021EXPLANATION : This is a 15 Min time frame chart of NIFTY , It has formed a Rising wedge Pattern . If you don't have a Plan you don't have a Trade .
AU SMALL FINANCE BANK RISING WEDGE BREAKDOWNAU Bank made a rising wedge pattern on daily timeframe
After a bearish engulfing candle it made inside candle
on low of this inside candle we can make a trade of downside with stoploss of high of inside candle
it can be a fast movement targets are provided on chart
Keep it in watchlist and also check banknifty along it.
Weekly BTC-USD(30th August)After five weeks of consecutive gains, Bitcoin is facing a bit of a hurdle from the psychological level of $50K. BTC formed a Bearish Doji kind of a candlestick pattern in the last week and dipped minutely by ~1% to close the week at $48,802. BTC has had a volatile last week due to the August monthly expiry in which $2+ Bn F&O contracts expired. At the time of writing, BTC is trading around $47,500.
From the past 5-6 weeks, BTC has been trading in a Rising Wedge formation with higher and lower bands placed at $53K and $47.5K respectively. Currently, bulls are trying to hold above this level but if it breaks $47.5K decisively, more profit booking can be expected in the coming days.
From the last 5-6 days, BTC has been trading in a range of $47K to $50K. Once we get a decisive breakout from this range, further buying or selling pressure can be expected.
Key Levels to watch out for:-
The immediate resistance which is present at $50K will be crucial for the move ahead. Once we get a weekly closing above this level, the next potential target is placed at $52.5K followed by $55K. On the lower side, the nearest support is present at $47K followed by $45.5K.
Time to short BTCAs I mentioned in one of my earlier threads, I think we’ve got the confirmation to open up a short position on BTC/USDT. This is because we broke out of the rising wedge (the white line). Besides this, we’ve got 3 consecutive red candles on the 4h which makes it a good short opportunity. My take profit is around the 45K level (the green line). But since we’re in a bigger general uptrend one should be careful and place a s/l.
Maybe it will find a short term support around the 47K level because of the upperline of the falling wedge (the upper yellow line) and bounce.
This is my publication #12. Let me know what you think of it and if you have any questions, suggestions, feedback or other inquiries let me know! I’m also just a trader.
BTC rising wedge can it hold 46-45k Btc is forming a rising wedge and now it broke down it! the main resistance is 49-50k and the critical support is 45k if hold above it we can expect move upside and can can came back to 40k or even 35k level so trade with tight stop loss. Also we can see a that the rsi is forming a bearish divergence. you can see a similar situation earlier. its better to avoid taking big positions
banknifty breakdown the rising wedgebanknifty breakdown from the rising wedge
and now previous gap area 35350--35730 became strong resistance
immediate support near 34945
if broken 34945 than will slip to 34600
banknifty sell on rise
Ashok Leyland swing setup triangle patternThis is my swing setup for Ashok Leyland it has broken the trend line as well as retested it. Time to buy.
TCS: Breakout of a Rising Wedge FormationTCS gave a fresh breakout of a Rising Wedge Formation in the daily chart with the spike in volume.
NIFTY MIDCAP analysis- There is RSI divergence on weekly time frame
- Also on the same time frame there seems to be formation of a Rising Wedge Pattern
- The "horizontal" trendlines and the box can assumed to be key support levels before further movement
NZDUSD confirms rising wedge on strong NZ employment dataWith the firmer Q2 jobs report, the RBNZ is all set to become the first developed nation central bank to announce a rate hike in 2021. The bullish consensus spread like a wildfire among the top-tier banks following the data, fueling the NZDUSD prices beyond a key hurdle from mid-June, which in turn confirmed a bullish formation suggesting a theoretical jump towards revising the May month’s low near 0.7315. During the run-up, tops marked during July and June, respectively near 0.7100 and 0.7240 may offer an intermediate halt.
Alternatively, pullback moves below the resistance-turned-support line, around 0.7025, will be challenged by 200-SMA and a one-week-old rising support line, close to 0.6990–85. Should NZD/USD sellers break the 0.6985 level, the pair’s further weakness towards 0.6920 and July’s bottom surrounding 0.6880 can’t be ruled out. However, the support line of the stated wedge, around 0.6860, will challenge the quote’s declines past 0.6880. Overall, optimism concerning the RBNZ’s rate hike backs the NZDUSD bulls.
TCS: Rising wedge breakdown?A decently medium term upward trendline originating from November 2020 has recently been broken by TCS. In fact, it seems to have started respecting recently formed downward trendline. After the recent pullback to the trendline and the averages, it is seeing the beginning of another bearish leg downwards.
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The pattern which has formed resembles a rising wedge and price seems to be breaking down from it. The bearish volume on the latest bar is also above average. It is possible that the downward momentum may continue further for some time.
The 20 and the 50 EMA which act as support during an uptrend also seem to be reversing their roles. They are exactly from where price is reacting to the downside, so they may be turning into resistance.
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Price could see a correction to the round figure level of about 3000. A positional short could be initiated if price sustains below the "SHORT BELOW" level for 15 minutes.
SHORT BELOW: 3162
STOP LOSS: 3223
TARGET 1: 3106
TARGET 2: 3045
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Plan your trade and manage risk properly.
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NTPC Rising WedgeThe pattern we see is an 'Rising Wedge' pattern. This usually occurs when a security’s price has been rising over time, but it can also occur in the midst of a downward trend as well. (Information via Investopedia)
The declining volumes indicate lower volatility and an imminent power move (long/short), ATR confirms the same.
Considering the bullish green candle with a short body indicates weak buying trend.
Rising Wedge pattern in weekly chart of TCSProbable scenario:- The rising wedge pattern is a probable sign of a strong bearish movement. In the case of TCS, if the price doesn't hold the support line it might go bearish . If the price doesn't find immediate support while retracing it might go for a strong bearish move.
Alternate Scenario:- If the price breakouts the resistance level and holds that position for some period then the strong bullish trend might continue which is less probable to happen.
Probable scenario: Alternate Scenario = 70 : 30
