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Education & Trading Idea
Wedge
Wedges are a multiple price wave reversal pattern. Wedges form when the waves of an asset move within a narrowing range, angled either up or down.
When the pattern completes, and the price breaks out of wedge, it is usually in the opposite direction the wedge was pointed.
This is why it is called a reversal pattern.
Books on Harmonics
Harmonic Trading Volume 1 & Volume 2 - Scott Carney
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Trading Strategy ( All Analysis Done on Spot/cash data - Kindly Adjust Futures Data Accordingly)
Plan A -
Holding 770 lows - Traders can look to buy with strict stops below 770's. Can Expect Upside Push to 793-797 zone as upside target
Plan B -
Selling Later from 793-797 zone with strict stops above 805 (800 is key reversal level - 805 is critical reversal level)
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Note -
Safe Trader -
Don't Take Sell as per plan B if it moves above 800 level
Risky Trader -
Can remain in Sell as per plan B as critical level is 805
This Idea gets invalidated once price moves above 805 level
Thanks for watching the video.
