EGX:AFMC https://www.tradingview.com/x/mjT6trnm/ descending triangle pattern that targets 30% profit
I believe we can continue the retest of previous major support level at 65-66$ and fibonacci 0.618. This major support will be flipped to resistance in my opinion. We can see a significant sell-off back towards the 57$ area and below from this location. I will be looking to enter a short trade from the 0.618 region/66$ if there is a rejection. My mid-term/end-of-year prediction for US OIL is between 45-50$ and possibly lower. If you believe in the fundamentals and idea of this setup, feel free to follow and use it. Not financial advice.
Hi traders, This is what I've said last week in my outlook: next week we could see a correction and more upside for this pair. And I drew an arrow for the target. Now check the chart. This is the power of wave analysis in combination with liquidity sweeps and FVG's! For next week we could see a little more upside (finish grey wave 3) and after that a bigger correction for (grey) wave 4. Let's see what price does and react. Trade idea: Wait for a change in orderflow to bullish. After an impulse wave and a small correction down on a lower time frame you could trade (short term) longs. If you want to learn more about trading FVG's & liquidity sweeps with wave analysis, please make sure to follow me. This shared post is only my point of view on what could be the next move in this pair based on my technical analysis. Don't be emotional, just trade your plan! Eduwave
BTC.D is still respecting its upward channel since mid-2022, currently testing the upper boundary ~64%. ? Potential pullback on the table, targeting mid-range or lower channel support (~60%). ? This could hint at: ? A short-term ALTcoin relief rally if dominance pulls back. ? Or possible Bitcoin consolidation while alts catch up. EMA 61.40% acting as dynamic mid-range support. Stay sharp — dominance shifts often lead the broader crypto rotation.
CRYPTOCAP:AVAX is showing signs of a potential reversal after forming a double bottom near the $17 zone. It’s currently testing a key resistance trendline along with a minor horizontal resistance around $19.50–$20.50. A successful breakout and close above this zone could trigger bullish momentum toward $22+. However, rejection here may lead to another dip back toward support. Price action is tightening, so a decisive move is likely soon. DYOR, NFA
Thoughts of this potential trade? I think we have a potential Long from a demand zone followed by a short from a reinforced supply zone... Would love to hear thoughts on this potential play.
EGX:AFDI https://www.tradingview.com/x/ZobUYBl5/
A right-angled descending broadening wedge is a bullish reversal pattern. The pattern is formed by two diverging lines, the resistance being a horizontal line and the support a bearish downward slant, so it is an inverted ascending triangle. The oscillations between the two triangle terminals are therefore becoming increasingly large. Each line must be touched at least twice to be validated. The right-angled descending broadening wedge reflects the growing nervousness of investors and also their indecision. If the chart pattern is not spotted quickly, the movements may appear totally random and thus trap many investors. The formation of this pattern has to be preceded by a bullish movement. Although one might think that this pattern is a reversal pattern because of its shape, it is more a sign of a weakness on the part of sellers beginning a bearish trend. The price objective is given by plotting the top point of the triangle at its start where it breaks out. Another technique consists in plotting the maximum height of the triangle at the break out point. Here are some statistics about a right-angled descending broadening wedge: - In 57% of cases, there is a bullish exit - In 90% of cases, the minimum objective of the pattern is achieved by using the technique of the maximum height of the triangle. In the event of a downward exit, the percentage drops to 70%. - The failure rate is 6% (i.e. a horizontal exit). - In 23% of cases, there is pullback in the case of a bullish exit and 33% in the case of a bearish exit Comments on a right-angled descending broadening wedge - Bullish exits perform better bearish exits - The movement is greater in a bullish breakout - The configurations that perform best are those that are preceded by a large movement before the triangle is formed. - Bullish breaks occur in 75% of cases in the upper third of the annual range - Pullbacks are detrimental to performance The traditional strategy: Entry: Opening a long position at the resistance break Stop loss: The stop loss is placed below the resistance Objective: Theoretical objective of the pattern Advantage: Minimum objective very often achieved (90% of cases) and pullbacks are infrequent The aggressive strategy: Entry: Opening a long position on the 3rd contact with the support line Stop loss: The stop loss is placed below the last lowest point Objective: Opposite boundary of the triangle then possibly theoretical objective of the pattern Advantage: The amplitude of the movement will be significant in the event of a bounce towards the opposite terminal. Low risk Disadvantage: Bearish exits in 37% of cases
NSE:GSFC Weekly rounding bottom and buyer at location may resume uptrend .
This level shows a major support level with all the rejections. Currently I’m seeing a falling wedge the broke the trend line (not the previous lower high)resistance last month and is currently retesting that line. More or less with the last 2 consolidations price had to move sideways in the channel for a continuation of a healthy up move. We may see a short term down from here but expect price to close at the $505 level eom. I’m in at $450.15.