Whenever I see a pattern like this the possible target for me the apex of the , which in this case falls in 157-159 zone. This is also a confluence point of an important trough (green ) as well as a long term rising (thick green line).
I would be quick. Two possible scenarios:
i) Price range narrows down and pops up of the pattern, follows trajectory A and faces resistance in the 175-180 zone. Then retrace back to the target zone of 157-159.
ii) Price falls off the and kisses the target zone then follows trajectory B and pulls back sharply to resistance 166-168. The price then retests the target zone before showing further price movement.
In both the cases the strategy would be to sell the pullbacks. However, the Scenario (i) would be more favorable as reward is higher and target would be yet to be achieved.
Trade safe, stay healthy.
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BOB overshoot the base of the wedge and made a deeper low. During current pullback, above 159 it can pullback to 166. But dun consider the bearish sentiment to die so soon. The chances of facing resistance @ 166 zone are higher from where it may again touch 158.
All the best with this one.