AB=CD Breakout retest from wedge.
to the left of the chart based on the 4 hours is a clear wedge / triangle pattern. Price has retested this in the form a 61.8 retracement.
The overall weekly trend is bearish so this helps as price will go bearish.
It is now at the 61.8 level so a nice pure pattern.
A trend line break out on the smaller time frame using a reversal candlestick plus divergence will be the entry point.
The overall weekly trend is bearish so this helps as price will go bearish.
It is now at the 61.8 level so a nice pure pattern.
A trend line break out on the smaller time frame using a reversal candlestick plus divergence will be the entry point.
Order cancelled:
No clear trend line breakout
Cancelled
Cancelled