We've still not seen a clear break of this falling wedge today and it's still in a strong downtrend. It's rather choppy this morning which is most likely smart money hunting and taking out our stops. If we see a strong close above this falling wedge, then this trade is invalid. I've plotted two TP's based on previous lows. Just be aware of the data coming out of the US later this afternoon which will most likely have some short-term impact.
TP 1 19899
TP2 19157
TP 1 19899
TP2 19157
Comment:
I've been calling it falling wedge lol, been looking at other charters. This is more like descending channel
Trade active:
TP 1 Hit
Trade active:
Reaching previous support of 1,19660
Trade active:
Wow, it really did push today. When it reaches the TP2 area, it would be a good entry for a long position. 1.19748 TP possible on that.