Greetings fellow traders,
As time goes by, the markets evolve...
If your way of TA is strong, then the path will lead its way...
More visible, more probable:
Today's Note:
Looking like a descending broadening wedge is emerging. Once resistance is confirmed if price gets rejected here. We might get a retest of some support first, before breaking out to the upside. Breaking out to the upside is still has a higher a probability. However, we need to see candles closing above the resistance. Overall it is a bullish pattern, but don't forget this is a short term pattern formation.
To be concluded...
As time goes by, the markets evolve...
If your way of TA is strong, then the path will lead its way...
More visible, more probable:
- Dashed lines; Possible forming patterns
- Solid lines; Confirmed patterns / Support or Resistance
- Dotted lines; Possible price-action trajectories / wave trend
- Lighten colors = Support | Darken colors = Resistance
Current Pattern Formation Level:
- Alpha pattern: Symmetrical Triangle -> Bullish Pennant
- Beta pattern: Descending Broadening Wedge
Today's Note:
Looking like a descending broadening wedge is emerging. Once resistance is confirmed if price gets rejected here. We might get a retest of some support first, before breaking out to the upside. Breaking out to the upside is still has a higher a probability. However, we need to see candles closing above the resistance. Overall it is a bullish pattern, but don't forget this is a short term pattern formation.
To be concluded...