Pattern: Falling Wedge
🔔 Trade Setup
Entry: Wait for price to retest the broken wedge resistance (now acting as support).
Enter long upon confirmation of support (bullish candlestick pattern or bounce).
Targets: 🎯 Target 1: Near previous horizontal resistance zone (marked as Target 1 on chart)
🎯 Target 2: Higher resistance area aligning with previous swing high (marked as Target 2)
Stop loss :
Below the Trendline ( Marked as Stop loss )
***This not a Buy/Sell Recommendation*** *** I am not a registered advisor***
*** Consult your Financial Advisor before making any Decisions***
- A possible trend reversal is indicated by the breakout that took place above the wedge resistance.
- A retest of the breakout zone is anticipated, providing a high-probability entry point, despite the current strong move.
🔔 Trade Setup
Entry: Wait for price to retest the broken wedge resistance (now acting as support).
Enter long upon confirmation of support (bullish candlestick pattern or bounce).
Targets: 🎯 Target 1: Near previous horizontal resistance zone (marked as Target 1 on chart)
🎯 Target 2: Higher resistance area aligning with previous swing high (marked as Target 2)
Stop loss :
Below the Trendline ( Marked as Stop loss )
***This not a Buy/Sell Recommendation*** *** I am not a registered advisor***
*** Consult your Financial Advisor before making any Decisions***
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.