Shankt
看多

BTC Reversal-- Descending Broadening Wedge

COINBASE:BTCUSD   比特幣 / 美元
278點閱
8
278 9
The BTC             bottom looks to be in. Price action is currently in a Descending Broadening Wedge pattern.

Target is 2800 for a topside breakout.
評論: The target I posted initially is not correct. Completion of the pattern with an upside breakout should land the price at 2650.

Thanks to @sifeij for pointing out my error.

Happy trading!
交易結束:目標達成: Target reached.

Lots of momentum now and starting to form a trade-able trend. May publish another idea on this as things develop.
What is the reason for 2800?
回覆
Shankt sifeij
@sifeij, Topside breakout target is 79% of the difference between highest peak and lowest valley for this pattern as detailed here: http://thepatternsite.com/dbw.html
回覆
sifeij Shankt
@Shankt, Interesting. Thank you for the information.
回覆
sifeij Shankt
@Shankt, It actually says: "Breakout - The breakout direction is upward 79% of the time."
This does not mean what you meant though.
回覆
Shankt sifeij
@sifeij, Actually, find the following statement in a table under the section "Descending Broadening Wedge Trading Tips":
Measure rule:
For upward breakouts, use the highest peak (A) in the chart pattern as the target. For downward breakouts, compute the difference between the highest peak (A) and the lowest valley B in the chart pattern to get the height. Multiply the height by the above "percentage meeting price target" and then subtract it from the lowest valley (B) to get a price target.

From this is drawn the price target.
回覆
Shankt Shankt
@sifeij, as I re-read this, I realize my target is wrong-- it should be the level of the highest peak in the pattern.
回覆
sifeij Shankt
:thumb:
Thank you.
No matter what, that is a nice discovery of chart pattern. I have not heard of it before. Thank you.
回覆
sifeij Shankt
@Shankt, You know ETHUSD might also qualify for descending wedge as you described :) Wait for you to do another chart!
回覆
Shankt sifeij
@sifeij, I can't argue your point. Maybe you could draw it up and publish your first!

Cheers!
回覆
ZH 繁體中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
AR العربية
HE עברית
首頁 股票篩選器 外匯篩選器 加密貨幣篩選器 全球財經日曆 如何運作 圖表功能 網站規則 版主 網站 & 經紀商解決方案 小工具 圖表庫 功能請求 部落格 & 新聞 常見問題 幫助 & 維基 推特
個人資料 個人資料設定 帳戶和帳單 我的支援工單 聯絡客服 發表的想法 粉絲 正在關注 私人訊息 在線聊天 登出