![]() A common stop level is just outside the wedge on the opposite side of the breakout. ![]() The target can be estimated through the technique of measuring the height of the back of the wedge and extending it in the direction of the breakout. These wedges tend to break upwards.Ĭonservative traders may look for additional confirmation of price continuing in the direction of the breakout. In other words: the highs are falling faster than the lows. The second is Falling wedges where price is contained by 2 descending trend lines that converge because the upper trend line is steeper than the lower trend line. In other words: the lows are climbing faster than the highs. The first is rising wedges where price is contained by 2 ascending trend lines that converge because the lower trend line is steeper than the upper trend line. There are 2 types of wedges indicating price is in consolidation. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.The Wedge pattern can either be a continuation pattern or a reversal pattern, depending on the type of wedge and the preceding trend. As always, conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. I will not and cannot be held liable for any actions you take as a result of anything you read here. While the information provided is believed to be as accurate a picture of trade as I see it, it is after all how I see it and errors or inaccuracies are practically expected. All information found here, including any opinions, commentaries, jokes, outright mistakes, and suggestions - expressed or implied herein - are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. Identifying the rising wedge pattern in an uptrend. This lesson shows you how to identify the rising wedge pattern and how you can use it to look for possible selling opportunities. This is CERTAINLY not investment advice and I am not a qualified licensed investment advisor nor a minister of the church. There are two types of wedge pattern: the rising (or ascending) wedge and the falling (or descending wedge). Be sure to follow me on X (Twitter) for the latest updates!ĭon’t maintain bias in the face of contradicting information! Capital preservation is key. I do my best to respond to everyone in a timely way. ![]() Your support and comments are appreciated. Finally, watch NQ at 17765 for clues toward ES, it will have to follow along above this level to confirm overall market strength. AAPL above 192.50 can support buying, as well as TSLA above 195. Beyond this is the globex low 4902.Ĭ) The VIX above 14.30 could support selling, as buyers benefit from prints below 13.40. An hourly close below targets Monday POC 4923 and the poor low at 4913 for a full traverse of value. Sellers look to invalidate the breakout with an hourly close below the scene of breakout 4934.Ī) Buyers maintaining above 4940 look to make progress above 4955 into 4967, with weekly level 4980 to 4985 above, where sellers are likely to step in.ī) Sellers spending time below the the pivot look to fill singles to 4934. Buyers spending time above this level and defending the singles is a clear sign of strength with the possibility to explore prices further above. This was just above a prior level 4944 on my weekly charts so as of today this new level gains importance. Heading into the ETH and RTH sessions, I will watch the M period low 4945 closely.
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