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Example of a Falling Wedge on EURUSD

FX:EURUSD   Euro / U.S. Dollar
EURUSD formed a falling wedge , both lines are downtrend. The angle of descent is steeper on the resistance line. The pattern form highs lower than previous and lows lower as well. After a few attempts, the prices finally break through resistance.

To confirm the breakout, the price should close above the resistance line, if so, make a long. The profit target is the distance away as the back of the triangle.

Comments

Really nice,

Is there any other way to find profit target rather than use "back of the triangle"?
Reply
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