This is a typical bullish reversal pattern. A wedge pattern can show market turnarounds in either bullish or bearish instructions. It is represented by two lines, one ascending and one descending, that diverge from each other. Right now price is at resistance and is on the verge of giving a breakout. Continuation Chart Pattern Flag pattern a. Inverted head and shoulder Wedge Pattern a. Reversal Chart Pattern Double Top dan Double Down Bottom Triple Bottom The Head And Shoulders Pattern 1. In a broadening bottom, prices enter the pattern from the top (that is, after a downward price trend), but they can exit in either direction. The Broadening Wedge Descending pattern forms when the price of a security makes lower lows (1, 3, 5) and lower highs (2, 4), forming a downtrend. We can see a Descending Broadening Wedge. A technical chart pattern recognized by analysts, known as a broadening formation or Megaphone Pattern, is characterized by expanding price fluctuation. Educational Ideas 1 Predictions and analysis Videos only HINDALCO: Descending Broadening Wedge HINDALCO, 240 AdityaPalSingh HINDALCO formed a Descending Broadening Wedge Pattern on 4-hour chart after the price peaked. Apa Itu Chart Pattern Jenis-Jenis Chart Pattern Lengkap 1. The Measured Move, or projected initial target would be at the high of the pattern at B. On the chart of Intel Corporation (INTC), we can see two bullish reversal patterns on a daily timeframe. Descending Broadening Wedge Pattern - bullish formation figure, chart technical analysis. A more conservative entry is at the retest of the upper trend line after price has broken out of the pattern. In this case STP would be below the low of the SFP trigger candle. However, the overall pattern is a Bullish Continuation Pattern.Īn aggressive long entry can be taken at the lowest low of the pattern, particularly if an SFP is printed. Made up of at least 5 swings between two descending broadening trend lines, volume generally increasing while in the pattern, and for those that wish to trade within this structure, it should be treated as a Bearish Pattern, with short trades being an option from point D down to the lowest low of the BDW.
The Broadening Descending Wedge (BDW) is not as well known as a Bull Flag for example, however, it does seem to occur quite frequently in the crypto market.
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