Breakout occurs when the price action breaks through a trend line and closes beyond it. A candle that moves both below the lower trend line and closes below it, forms a rising wedge breakout. The candle must move above the upper trend line of a falling wedge and close above it for a breakout to occur
Ethereum against BTC got a beautiful bounce of the support of the rising wedge. Since we're still inside the wedge I'm still incredibly bullish on Ethereum (even more then on Bitcoin). We just flipped the resistance of 0.071139 into support.
The next level that I'm watching is the red line at 0.731. I think we're going to see some action of ETH very soon.
Let's...
JUST 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...
1) Formed Head And Shoulder Pattern at Weekly Time Frame, Breakout And Retest Done!
2) In the Daily Time Frame, This script ahs taken a good Support at its bottom Support trend line, With good buying pressure (Strong Buyers), which can be witnessed by the candle it formed on the last trading day (Friday).
Trend Analysis - Respecting its support and...
Falling wedge pattern is seen in Daily period on TATA STEEL scrip. A possible uptrend is possible with strict SL in place. Have a look at the chart for more information.
EXPLANATION : This is a 4 hour time frame chart of LARSEN & TOUBRO , It has formed Rising wedge pattern breakout also formed head and shoulder pattern . Ideal entry is breakout and retest of Rising wedge pattern & Right shoulder of head and shoulder pattern . Enter as per your setup .
If you like this analysis give a Like // Follow for more updates , let me know...
Wait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the...
On Daily Time Frame, JINDALSTEL showing falling wedge pattern breakout. After this breakout expected this stock will give upside move upto 500+ projected target in short term period. Also, MACD bullish crossover in oversold zone indicating trend reversal of this stock. Can go long in this position with downside stop loss below 370 for target of 445 and 500+.
NSE:GUJGASLTD
falling wedge mostly give upside brkout.
wait for TrendLine to brkout for confirmation.
also .382 retracemet o Daily time frame.
#the_pravin #simplepriceaction #notoindicator #nakedchart #swingtrading
Bitcoin finally broke out of the falling wedge and the triangle but I miss the volume.
If I'm going long I'll wait for a retest of the resistance to see if we can flip it into support.
This scrip is in an uptrend for a while and it had recently given a breakout from a mojr resistance, it is now consolidating a bit. It had formed a small wedge sort of pattern in which it's being traded for past one month. By the way there's also a small trendline within the wedge pattern, so this scrip ha the potential to go up in coming days, if the markers too...
Some TA
Follow and like for more
this is a falling wedge + three drives i am looking to long 36k i am already in a short from 52k
hope you have good evening
