The falling wedge pattern is a continuation pattern formed when price bounces between two downward sloping, converging trendlines. It is considered a bullish chart formation but can indicate both reversal and continuation patterns
As always you will need to wait for a daily close above the trend line.
P.S. wait for a potential pull back to retest the broken resistance.
your stop-loss order should be placed within the wedge, near the upper line.
As always you will need to wait for a daily close above the trend line.
P.S. wait for a potential pull back to retest the broken resistance.
your stop-loss order should be placed within the wedge, near the upper line.
Comment:
breakout occurred on 4h candle
Comment:
Comment: breakout happened on daily candle and closed above the trend line, the trendline is broken.