This entry was posted in public by Rambus. XAU weekly 6 point bullish expanding falling wedge. The reason there are so many bullish expanding falling wedges has to do with one of the precious metals stock indexes, the XAU. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines however, most. Trade: When price breaks the upper trend line the price is expected to trend higher. Falling Wedge tends to be a more reliable indicator than a rising wedge. During the next big correction the prevalent consolidation pattern might be a triangle or rectangle or whatever pattern the bulls and the bears create during their fight for superiority. Either way, Falling Wedge typically results in a bullish breakout.
I could show many more bullish expanding falling wedges but I think you can see they are a fairly common consolidation pattern during our latest one year correction. GORO weekly bullish expanding falling wedge. First we’ll look at the GORO weekly chart from last night as a template. So lets look at some of these patterns in real time and see if this is just an isolated incident on GORO. Sometimes the boundaries of the consolidation pattern slope up, sometimes horizontal, some slope down and in this case they expand. A consolidation pattern shows the fight taking place between the bulls and the bears and the fight can take on many different patterns.The main thing to keep in mind is there has to be at least 4 reversal points within the top and bottom boundaries to qualify as a consolidation pattern. These patterns are showing up on the weekly look that is less cluttered than the daily.
Rising wedge bullish breakout full#
The common thread for this pattern is that the price objective of the H&S falls short making the last low higher than if the H&S reached it’s full price potential. They signal a change of trend via breakout or breakdown following consolidation within a narrowing range where both support and resistance are either rising or falling. The bottom rail is formed from the right shoulder crotch, at the neckline, and the last reversal point is made from the low that is achieved from the breakout of the neckline. Type of pattern: The Rising Wedge is a bearish reversal/continuation pattern that begins wide at the bottom and contracts as the price moves higher/slopes up.
Where does he come up with some of these off the wall chart patterns? This bullish expanding falling wedge pattern seems to start off as some kind of H&S pattern where the head and the top of the right shoulder form the top rail. I know many of you are thinking, “I want some of what Rambus is smoking”. I showed a bullish expanding falling wedge as it’s most recent consolidation pattern. I want to do a little followup on a pattern that I posted yesterday on the weekly stock pick, GORO.
0 kommentar(er)
