Spell TokenLargo
set up for trading a falling wedge
Actualizado
When a stock or index price move has fallen over time, it can create a wedge pattern as the chart begins to converge on the way down. Traders can look to the beginning of the descending wedge pattern and measure the peak to trough distance between support and resistance to spot the pattern.
As the price continues to slide and lose momentum, buyers begin to step in and slow the rate of decline. Once the trend lines converge, this is where the price breaks through the trend line and spikes to the upside.
The falling wedge indicates a bullish reversal pattern in price. It has three common characteristics that traders should look for: it has converging trend lines, declining volume as the trend line progress, and finally, it will be preceded by a breakout through the upper trend line. What all these things come together, you have a falling wedge pattern, and a breakout to the upside should be anticipated.
As the price continues to slide and lose momentum, buyers begin to step in and slow the rate of decline. Once the trend lines converge, this is where the price breaks through the trend line and spikes to the upside.
The falling wedge indicates a bullish reversal pattern in price. It has three common characteristics that traders should look for: it has converging trend lines, declining volume as the trend line progress, and finally, it will be preceded by a breakout through the upper trend line. What all these things come together, you have a falling wedge pattern, and a breakout to the upside should be anticipated.
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ETH/SPELL chart Nota
good time to enter of entry 1 was ur spot
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alright every thing is looking tight rn, expecting a lil pull back to the entry's suggested in the original post. this will likely be the LAST chance to load up at a fair price (assuming it becomes support). next year lots of thing will pump so load up guys.
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last chance to load up were right on top support line of the descending triangle gl guysNota
alright guys hit the 1st entry, can wait for 2nd but is more risk.
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might be time for spell to have its day bb!
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if spell can breach the descending channel it going to be a bully season, and with halving commin in bullish asf rn.
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shorter term targets
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a bigger perspective posted a while back as well.
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shortest time frame (margin traders) has a livermoore (google it) accumulation funnel going 2HR. Nota
oh look another falling wedge on the 1hr
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well it looks bullish as it stay above previous lows. will be trying to stack at 0.0005 or under if i can..
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cup n handle retesting the handle..
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probably my last update 4 a while Nota
both try and usd prices Nota
snapshot.org/ guys if this passes more buying pressure will come for spell via merlin!! please if yall have some sspell go voteNota
ascending channel (its a bullish pattern guys). we are in for the money here soon guys. here some info on the channel..
The ascending channel is also known as a “rising channel” and “channel up“.
The lower line is identified first, as running along the lows: it defines the trend line. The upper line (he “channel line”) is identified as parallel to the trendline, running along the highs.
It is a bullish chart pattern defined by a trend line supporting the series of higher lows and a diagonal resistance level connecting the higher highs.
When in the channel, prices are expected to bounce off both upper and lower boundaries; the more such reversals occur, the more reliable the pattern.
An ascending channel looks similar to the Rectangle pattern, but the difference is that an ascending channel slopes up.
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been forgeting to update. took 30k out of my position to cover taxes and margin fee. still long as can be thoNota
fresher update. im buying for the yield rn. 7% is nice while price remains fair... i will sell this at a premium mark my words ;)
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re-entry here guys. keep stacking and staking.
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