Ascending broadening wedge forms with the divergence. If 1st impulse is sharp then it gives signal that trend is going to reverse.
Expanding triangle forms most of the time against the divergence. If expanding triangle forms corrective wave at top then it gives signal that price is going to continue with the previous trend.
Komen
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I hope this example will help much better. Expanding triangle. (Trend continuation pattern )
Komen
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I hope this example will help much better. Ascending broadening wedge. ( Trend reversal pattern )
Komen
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ascending broadening wedge with divergence.
Komen
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This idea is based on my understanding of markets and you can agree or disagree with it you have full right to agree or disagree mate.
Komen
zeku
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If somebody is trying to sell you educational courses or monthly subscription make sure to check their annual returns as majority of them don't make money trading.
Some are good but make sure to perform your due diligence before investing your hard earned money!
Wave-Trader
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@zeku, I think you are new in this industry mate and have no idea how huge this industry is. Some people provides only trading signals. Some people share their knowledge by providing training courses. some people earn money by providing forecast only. some people earning money by doing trading and making money from market. some people making money by speaking only in this industry like on financial TVs. So all are making money in this industry some people has all the above expertise and some has only one. So you should focus on your knowledge so that you may become one of them rather than criticising some one negatively.
Wave-Trader
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@Wave-Trader, And no one earns money in this industry without losing money either they are paying for signal or for course or getting losses in the market.
Trader382
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@Wave-Trader, agreed. But you forgot to mention perhaps the biggest money makers in the retail trading business; the scammers. Betting like a bucket shop that their customer will actually loose against the market. And if your lucky enough to beat it, they will make an effort to have you still loose. They will not make any money if your profitable as your trade never was used to buy anything on a stock exchange, they we're put straight into the brokers "dark pool" or more correctly their pocket.
So for the retail trader (as most of traders on Tradingview) the priority list to actually be profitable as a trader would be
1. Find an honest broker (this is hard and will take some time, in an industry full of scammers)
2. Money management and a personality that can handle the natural wave fluctuation in stock prices.
...I don't even use stop losses anymore. Never. Why? Because everyone else is, and your broker can take advantage of hunting it.
3. A sound actual trading strategy. And there a dozen to choose from. The most important would be that it has strict rules for when to enter and when to exit.
So there you go newbies, good luck:p -not to take away your expectations, just understand that beating the average (the market) will as with everything else, require something extraordinary not defined by and strategy written in a book.
@Wave-Trader, You spewed out a load of crap for newbies, you are not even aware of how naive/simpleton you are ... LOL
I can rip your entire statement one by one however lets take one or two of them
>>Some people provides only trading signals
Why only provide and not trade them and make money? Its obvious, isn't it.. It doesn't work, that is why they are selling, ask them for their annual returns and see the fun - its called eating your own dog food.
Oh another example of your talking head on TV - The great trader Dennis Gartman.. Do a google search on how his real fund/return performed, and be amazed...many more examples like these of fooling innocent people.
As the saying goes "Those who can't trade, teach; those who can't teach, publish newsletter or sell subscriptions"
I am not criticizing the good ones, all I am saying is be cautious of the so many fake so called "experts" "gurus" in this industry which you are failing to instruct your followers.
This maybe little off topic but I highly doubt you are from UK as per your profile (or maybe you moved there recently from Pakistan or India perhaps) as your English says otherwise.
Michelok
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It think it heads down 50% chance lol
Wave-Trader
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@Michelok, one or two candles do not give a clean picture of the market where it is heading for if you are looking for short then wait for proper top then look for short on possible corrective wave.
AdeOluseun
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nice chart
AmitKumareb
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Can you please post the macd for the Expanding triangle (Trend continuation pattern ) chart similar to the macd chart for ascending broadening wedge with divergence.
Some are good but make sure to perform your due diligence before investing your hard earned money!