FTI Consulting falls under the radar for a potential LONG with this falling wedge pattern in play . On the 25 Feb we have Earnings numbers coming in and during December 2nd 2020 the board authorised 200 million Dollars for the re purchase of its Shares.
The Falling Wedge CAN FAIL the same as any other triangular pattern so make sure you wait for confirmation...
Looks like the bottom of the wedge we broke out of to the downside is now acting as resistance. This is likely to be bearish in the short term if we carry on doing this. For me this consolidation period is too uncertain to trade but still a great time to accumulate off fundamental support lines. Look out for them.
I can see a very strong 4 hour bullish backbone which I have looked at for a while now, with the previous highs also creating a resistance level, I'm looking for a bullish breakout. As the markets open tonight I'm expecting to see a little bit of bearish movement to retest the supportive trend line but then if rejected, ideally by a bullish candle, Ill be looking...
Falling wedge patterned formed with confirmation of a reversal.
Manufacturing Production news coming out at 0700 hours on the 14th of July which is projected to have high impact on GBP pairs.
Expecting a bullish push within the next 24 hours.
From a monthly PoV, pair has retraced to around the 61.8% fib level, which lines up with previous market structure (i.e resistance). If this level will hold as support, then it could be the point where retracement end.
Target is gotten from the weekly chart at the previous weekly support; further conflunce for target is that it lines up with the 38.2% fib level...
GU Has been forming a falling wedge since the 12th December 2019 and price is now retesting the bottom of the trend line which has been tested and rejected multiple times. On the daily time frame, the pair has been in a corrective phase for numerous months now and could now potentially break out of the falling wedge and continue impulsing to the up...
Since the start of September Gold has been in a descending wedge, but since the start of december it has also been in a ascending triangle, I see Gold going in one of a few ways:
1. Short to and breaking below the triangle and a possible return to the base of the wedge, probably around 1420. (dont want to think about this)
2. Short to and bouceing off the base of...
4Hr chart shows clear wedge and believed to show a break of the wedge with fast impulse movement when breaking the wedge .
Looks closely at the chart and watch when it hits the support or resistance as it will become impulsive .
Use buy stop and sell stop