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Price has two option of the Rising Wedge formation. First already produced the breakout. In second one we are sitting on a support trendline.
In case price retraces of the Ichi Cloud support zone the one can test the resistance trendline (previous rising wedge support). If there is a confirmed rejection of the resistance we can initiate a short position
In case price crosses current support trendline we'll have a second option of the Rising wedge working out. So we can initiate a short position
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
Price has two option of the Rising Wedge formation. First already produced the breakout. In second one we are sitting on a support trendline.
In case price retraces of the Ichi Cloud support zone the one can test the resistance trendline (previous rising wedge support). If there is a confirmed rejection of the resistance we can initiate a short position
In case price crosses current support trendline we'll have a second option of the Rising wedge working out. So we can initiate a short position
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.