![]() ![]() It’s an unlikely upside scenario, but confirms at a seemingly ridiculous 13692 for an even more outlandish target of 14673 and that would be an all-time high with its downside scenario confirming 12711 for the aforementioned target of 12083.Īfter the dissection of the Dow’s bearish Broadening Top, it appears more likely that it too will do as its bearish brethren have done before it which equates to a 200-DMA-crossing drop. Liquidity slosh is always possible to cause this pattern to do something unique than what it normally does and that means treating both sides even though this pattern breaks to the downside nine times out of ten. The ascending broadening wedge pattern can be either bullish or bearish, depending on the context in which it forms. Downward breakouts outperformed in the 1990s but didnt vary much among the decades. Upward breakouts did best in the 2000s but worst in the 2010s. Illustration about flat, definition, broadening, downtrend. The above table shows the performance of right-angled ascending broadening top chart patterns in bull markets over the last three decades. This pattern looks like a megaphone pointing down and to the right. Price should touch each line 2 or 3 times to be considered a valid pattern. The price objective is determined by the highest point at which the descending. A descending broadening wedge forms as price moves between the upper resistance and lower support trend lines multiple times as the trading range expands during the downtrend in price. The break in the resistance line definitively validates the pattern. Following on from my LUNA chart using EWP, Ive drawn a simpler chart with TLs, a Doji and an ascending broadening wedge. One should not assume that the Dow’s Broadening Top will do as it expected or as its prior Broadening Tops has done with the potential for the promise of some liquidity. Ascending Broadening Wedge Pattern - bearish formation figure, chart technical analysis. BTC1 We have a descending broadening wedge forming since mid 2019, after the 2019 peak, and we have just broken out of it. ![]() Not to say the multi month Rising Wedge that delivers a 10405 target for a potential decline of 22% and another correction in the many corrections and rallies of the longer 2-year sideways trend. There is a valid reason to know that such a resolution will not require much more sideways trading before it displays what could be a 10% drop in the big Broadening Top alone. 1 0 EURNOK: Ascending Broadening Wedge Potential Partial Rise EURNOK, 1M Short RizeSenpai Aug 16 We have a potential Partial Rise at a 61. If the comparison carries on into resolution, it is apparent that it will be a bearish and not a bullish resolution.Ĭonsider the current Broadening Top is more compact than the prior one, the reason for drawing the intermediate-term trend-lines differs in the second chart. The first small Broadening Top resembles the current one in relation to its Rising Wedge at that time and suggests there may be some other sideways trades ahead prior to the resolution.
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