The falling wedge can either be a reversal or continuation signal.
This falling wedge serves as a reversal signal. After a downtrend, the price made lower highs and lower lows.
Notice how the falling trend line connecting the highs is steeper than the trend line connecting the lows.
Upon breaking above the top of the wedge, the pair made a nice move upwards.
Other indication of this reversal: RSI above 50 on daily chart, price above all 3 moving averages.
This falling wedge serves as a reversal signal. After a downtrend, the price made lower highs and lower lows.
Notice how the falling trend line connecting the highs is steeper than the trend line connecting the lows.
Upon breaking above the top of the wedge, the pair made a nice move upwards.
Other indication of this reversal: RSI above 50 on daily chart, price above all 3 moving averages.
Comment:
how is that looking guys =)
