It is not the most perfect wedge , but it does have a support and resistance that is tested multiple times.
The bearish idea would fit in the downtrend on the weekly since august '18.
We're seeing some bearish movement right now so maybe it will break soon, while the wedge is closing in.
Keep an eye on it and thanks for reading!
Trade closed: target reached:
The wedge analysis was a good one, it broke down as it should.
I'm curious about the next move on this cross.
I will update this later on.
@soskinnyithurts, what timeframe would you recommend. I’m looking at 45 because it has a little more detail then 1hr.
Don’t see it as much difference. Also the 1hr fits the best in my trading style. Mostly not scalping and/or holding for too long.
Thanks for feedback!