albert.callisto
Long

EURPLN - Falling wedge, watch out for a breakout on long side

FX_IDC:EURPLN   EURO / ZLOTY
56 0 5
9 months ago
EURPLN             had been rising since April 2015 in a channel from which it escaped in January before consolidating a bit. Price is now oscillating in a falling wedge and is being compressed, it found some support at 4.35 and is testing the upper trend. The volume is slightly decreasing which is a scenario often seen in wedges.

According to Bulkowski, the probability of an upward breakout in such pattern is 68%.

Read of the day: http://thepatternsite.com/fallwedge.html
9 months ago
Comment: Looks like it was the 34% of probability that took over :) Price is retracing now to the lower part of the wedge, but at the same time it met the support of 13th January. Don't know if the fall would continue, maybe some lateral consolidation incoming.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out