Again we have a rising wedge, indicating a possible uptrend reversal. We consider all the moves the price can possibly make. From the last rising wedge experience, we've learned that the price can easily rally if a reversal pattern does not work out. Trading within the pattern reduces profits and increase risk. Personal BIAS plays a vital role in decision making and sometimes you need to remove your personal opinion and look at what the candlestick story tellers like to tell you.
Trading on lower timeframes and within the wedge patter can be profitable for highly experienced traders.
Keep trading simple and have fun.
Information, charts or examples contained in this analysis are for illustration and educational purposes only. It should not be considered as advice or a recommendation to buy or sell any security or financial instrument. We do not and cannot offer investment advice.
Trading on lower timeframes and within the wedge patter can be profitable for highly experienced traders.
Keep trading simple and have fun.
Information, charts or examples contained in this analysis are for illustration and educational purposes only. It should not be considered as advice or a recommendation to buy or sell any security or financial instrument. We do not and cannot offer investment advice.
Trade closed: target reached:
Rising wedge played out well. Pattern recognition and the trust to trade the patter when it occurs can take you pretty far in your trading career.
Happy trading.
Happy trading.