A broadening wedge led to a break out up, this break out is now topping and in bearish stages
The bearish action has not stopped yet, it will fall when price reaches 0.382 (pink dotted line). This line in history has been seen as an area of Resistance, so in turn will be seen as an area of Support
A white uptrend line can also be drawn through the wedge, pinpointing the place where the bear move should stop
Daily timeframe
The bearish action has not stopped yet, it will fall when price reaches 0.382 (pink dotted line). This line in history has been seen as an area of Resistance, so in turn will be seen as an area of Support
A white uptrend line can also be drawn through the wedge, pinpointing the place where the bear move should stop
Daily timeframe