Falling wedge - the end of longer consolidation?
The chart shows the next picture:
- after the breakout of local inclined resistance the price moves mostly in 60.00-75.00 horizontal channel
- evident falling wedge formation
- current attempts to breakout pattern's resistance
The recommendation is to buy
Entry point 67.00 (this price is going to be a confirmation of the signal)
Stop-loss 64.90 (-2 tics under 64.92 low of current fractal)
Take profit 75.00 (strong resistance level)
Risk/return ratio 1:3
- after the breakout of local inclined resistance the price moves mostly in 60.00-75.00 horizontal channel
- evident falling wedge formation
- current attempts to breakout pattern's resistance
The recommendation is to buy
Entry point 67.00 (this price is going to be a confirmation of the signal)
Stop-loss 64.90 (-2 tics under 64.92 low of current fractal)
Take profit 75.00 (strong resistance level)
Risk/return ratio 1:3
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