Falling wedge is generally a bullish pattern signaling that we will likely see the price break upwards through the wedge and move into an uptrend. The trend lines of this pattern converge, with both being slanted in a downward direction as the price is trading in a downtrend.
Target 1 and 2 marked.
Cheers!
Target 1 and 2 marked.
Cheers!
Trade active:
Entry at $76.00 (break of formation)
Holding for next move with a stop loss below $70.00
Holding for next move with a stop loss below $70.00
Trade closed: stop reached:
Trade closed, stop loss hit