A wedge or channel found at the bottom of a down-trend is terminating (means it ends the trend). The key is that it has to reach a certain level before it can reverse (that's the wedge ending level on the chart in green). The target is the minimum distance that I've researched that it should go. If wrong, we can always target the top of the channel.
@dosixola, Thanks. I should do more wedge/channels that are terminating. They work out well in my research and in live trading.
DNP-FX
⋅
it seems price still has no power to break through the resistance area, but if it breaks, most likely to reach the wedge target
kosai19
⋅
@DNP-FX, Yeah, I actually took profit on my trade already. I didn't trust that it could break the level. Sorry I don't update trades, usually too busy. I still think it's likely to meet the target anyway.