Sentences with phrase «wedge pattern»
A "wedge pattern" refers to a specific shape formed in a financial chart. It looks like a triangle, with two converging lines that move in opposite directions. This pattern typically suggests a potential breakout or trend reversal in the near future. Full definition
Sell signal: Identify a rising wedge pattern (bearish).
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The stock has historically taken support near the bottom of falling wedge pattern before moving higher again.
For example, a broadening wedge pattern on a 1 - hour chart would require a 1 - hour close beyond the upper or lower boundary.
Bitcoin price trading above $ 11,000 mark in the weekend trading and has given a breakout from the bullish falling wedge pattern on the daily chart, which is extremely positive from technical perspective as the price could now rise towards all time high in the next few weeks.
On the daily chart, as pointed out last week, Bitcoin has been forming a falling wedge pattern which is extremely bullish for the prices once broken out.
Risks to Consider The stock may reverse its overall trend if it breaks down from the falling wedge pattern support with a high volume.
Broadening wedge patterns don't come around often, but when they do you'll want to pay close attention as they provide an excellent way to spot exhaustion within a trending market.
The wedge indicator for Metatrader 4 identifies both rising and falling wedge patterns for any currency pair on any time frame.
The ranging channel gave in to pressure and the price started another trend on Thursday forming the descending wedge pattern on the intraday 15» timeframe chart.
On the daily chart, there seems to be a falling wedge pattern in the making, confirmation of which could be known once the price crosses past $ 1,270 mark with volumes - still a far off level for the laggard.
The result is an ascending or rising wedge pattern.
Technically, much like Ethereum, NEO too is in the proces of making a falling wedge pattern which would give fresh momentum to the bulls after the breakout.
Upon further analysis, i saw on the daily timeframe, a falling wedge pattern on a downtrend which to me is a sign of an imminent reversal.
Bitcoin price, which broke out of a bullish falling wedge pattern, faced another key test on Sunday when it retraced from Saturday's high of $ 11,500, which also is a lower high from February.
After the years of consolidation, Worth noted that a wedge pattern has formed on the chart.
Wedge patterns are best used over months instead of days or weeks.
The Wedge pattern looks just like it sounds — a wedge formed by two lines called the support and resistance lines.
Like H&S, Wedge patterns are trend reversal tools.
The rising wedge pattern that indicated a sucker's rally for the DOW (Dow Jones Industrial Average of the top 30 companies in the US, or the DJIA), has been confirmed.
After waiting for PSMT to form a wedge pattern, I initiated a long position, betting on a breakout.
# 1 Falling Wedge Pattern: As you can see from the daily chart, SAGE has been trading within a falling wedge pattern during the past few months.
# 1 Falling Wedge Support: ABT's daily chart shows that the stock has currently taken support at the bottom of a falling wedge pattern.
Risks to Consider The stock may reverse its overall trend if it breaks down with high volume from the falling wedge pattern.
This trade setup looked good for two reasons: the bullish outside reversal bar right before the day we entered, and the wedge pattern.
The wedge pattern had an upside breakout followed by a pullback that ended bullishly with that outside reversal bar.
The consolidation pattern in which Netflix has traded since then could be labeled a wedge pattern, which good traders will respect as nothing more than a sideways trot that could resolve in either direction.
After waiting for PSMT to form a wedge pattern, I initiated a long position, betting on a breakout.
In other words, the price is likely to reverse in the opposite direction of the falling or rising trend if the price breaks through the wedge pattern.
Wedge patterns are considered to be reversal patterns.
I predict that downtrend momentum will cause price action to breakthrough the rising wedge pattern.
Unlike the channel which is open - ended, the triangle or wedge pattern can give you some sense as to when a breakout might occur.
NEO / USD is edging back towards a falling wedge pattern on the daily time frame, which the price broke out of on Monday when the market was in retracement mode.
Next support is eyed at $ 900, which would see the below trend line, as part of the wedge pattern.