Within the broadening wedge pattern I previously discussed, we have a bullish pennant forming at the top ascending line.
We also have weakening volume, another confirmation of the pattern.
Waiting for a breakout and confirmation. At the breakout, there should be a spike in volume.
It's no coincidence that the FOMC announcement is at 2pm EST, in about 6 hours.
A pause in interest rate hikes would be most bullish, and that's the result the charts are pointing us to.
Good luck and enjoy these fun times!
We also have weakening volume, another confirmation of the pattern.
Waiting for a breakout and confirmation. At the breakout, there should be a spike in volume.
It's no coincidence that the FOMC announcement is at 2pm EST, in about 6 hours.
A pause in interest rate hikes would be most bullish, and that's the result the charts are pointing us to.
Good luck and enjoy these fun times!
Trade active:
OK there's the breakout, front-running the FOMC announcement.
Target $40,000.
Stop loss at $28,000.
Target $40,000.
Stop loss at $28,000.
