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Possible Gartley Pattern in ESENThe Gartley pattern is made up of four price points, labeled X, A, B, and C. The pattern is considered to be valid if the following conditions are met: XA is a retracement of 61.8% of the AB leg. BC is a retracement of 38.2% of the XA leg. CD is an extension of 161.8% of the XA leg. The Gartley pattern is a relatively complex pattern, and it is considered to be a relatively reliable indicator of a potential reversal, but it is important to use it in conjunction with other technical indicators and confirmation signals.
BIST:ESEN
by aragornthegray
KOZAL has a falling wedge ready to break out!BIST:KOZAL formed a nice falling wedge which is waiting for a break out. KOZAL should benefit from the rising FX_IDC:XAUTRYG prices. Disclaimer – WhaleGambit. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
BIST:TRALTLong
by WhaleGambit
Descending Broadening WedgeA descending broadening wedge is a bullish reversal pattern that is formed when a stock's price is contained within a downward sloping wedge, but the width of the wedge is expanding. This indicates that there is increasing buying pressure, even though the price is still falling. To confirm a descending broadening wedge, the price must break above the upper trendline of the wedge. Once the breakout has occurred, traders will typically enter a long trade with a stop loss placed below the lower trendline of the wedge. As you can see, the price of BIST:HEKTS has been contained within a downward sloping wedge since November 2022, but the width of the wedge has been expanding. This indicates that there is increasing buying pressure, even though the price is still falling. If the price of BIST:HEKTS breaks above the upper trendline (TRY29) of the wedge, it would be a bullish signal and could lead to a further advance in price. Traders who are bullish on BIST:HEKTS should look to place their stop losses below the lower trendline of the wedge. It is important to note that the potential descending broadening wedge pattern in HEKTS is not yet complete. The price needs to break above the upper trendline of the wedge to confirm the pattern. However, the pattern is worth watching, as it could be a sign that BIST:HEKTS is about to reverse its downtrend. Broadening wedges can be difficult to trade for a number of reasons: False breakouts: Broadening wedges are prone to false breakouts, which can occur when the price breaks out of the pattern but then quickly reverses back inside. False breakouts can be caused by a number of factors, such as market volatility, news events, and stop-loss hunting by other traders. Difficult to spot: Broadening wedges can be difficult to spot on a chart, especially for new traders. The pattern can be confused with other chart patterns, such as triangles and flags. Long time to develop: Broadening wedges can take a long time to develop, which can lead to frustration for traders who are trying to trade it. Traders may have to wait weeks or even months for the pattern to complete before they can enter a trade.
BIST:HEKTS
by aragornthegray