HarmONEy - Bulkowski's Descending Broadening Wedges
Updated
I'm going long with this "ONE". The chart is showing a clear broadening wedge with one touch point on top (signaling a short) and the 3rd touch point at the expected bottom (signaling a buy). The #2 is another touch point but indicates a weak buy signal which was proven by the quick sell-off. The StochRSI is trending upward indicating strength in volume and price. Also, MACD and MFI are showing sings of a trend change by showing signs of upward movement as "smart money" starts rolling back in.
If you find any value in this analysis please click "like". I also appreciate any feedback!
If you find any value in this analysis please click "like". I also appreciate any feedback!
Note
I incorrectly labeled #2 as a touch point, however, it still proves the weak buy signal immediately after the sell-off under #1.
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