I show what happened after two wedge formations. Note carefully wedges do not rule the market. The create probabilities not predictions. Wedges do fail.
There is hardly ever a perfect wedge pattern. The most recent one doesn't look too great. Price can fall out of a wedge and rock back in as you will see. Therefore trendlines drawn have to be estimates.
Got to be creative with it!
Price has respected 6300 $ times in the past so slowly 6300 is becoming weak as we visit.
Our next push higher is point D (possible 6400) and then an expected fall lower to find major support (6100-5600).
All of this before a push to break 6500 and beyond.
Just an idea, trade at your own risk!
Hi all, here is NZDUSD, the discount entry was last night for this one! Managed to catch this with a pending order, targeting the next market structural high on the D1 as a swing trade. We could see a pullback to discount before the market rallies up.... still a nice position to hold. NZD interest rate decision could spike further volatility in this pair, which...