Big move up with possible Rising wedge noted that is not valid until the bottom trendline is broken.
Rising wedges differ from triangle as both trendlines slope up. This pattern narrows at the apex demonstrating an interruption in supply and demand. Price can break UP from a RW, but in the long run, sometimes much later, the rising wedge trendline will be broken.
Suspicious candle so far today that looks like a shooting star.
No recommendation.
“The function of economic forecasting is to make astrology look respectable.”
John Kenneth Galbraith
Rising wedges differ from triangle as both trendlines slope up. This pattern narrows at the apex demonstrating an interruption in supply and demand. Price can break UP from a RW, but in the long run, sometimes much later, the rising wedge trendline will be broken.
Suspicious candle so far today that looks like a shooting star.
No recommendation.
“The function of economic forecasting is to make astrology look respectable.”
John Kenneth Galbraith
Comment:
5/31
