Looking at these two rising wedge patterns right before the July Squeeze, they both have a very common similarity... They are the same pattern, but almost twice the price scale.
Measuring from the support, in early July we had about 18% upside movement to the highest point, in 11 days and 4 hours.
In August, we had about 30% up movement from the market structure support we compared to in the July pattern, in 22 days and EIGHT hours.
Now the real question whether to open a long or short at this time, is whether the 0.236 fib level will hold.
Measuring from the support, in early July we had about 18% upside movement to the highest point, in 11 days and 4 hours.
In August, we had about 30% up movement from the market structure support we compared to in the July pattern, in 22 days and EIGHT hours.
Now the real question whether to open a long or short at this time, is whether the 0.236 fib level will hold.