Bullish Falling wedge with declining volume . Have amended diamond to consider where the right hand side may end. Bullish and Bearish fakeouts have created what is looking very much like a diamond bottom reversal pattern forming. Take Profit 1: 1.195 Take Profit 2: 1.21 Take Profit 3: 1.25 Stop Loss: 1.06
I will be looking at it as well with this analysis
Amol_Soneji
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I would like to disagree with you. The reason being is that the Large ups and downs enclosed by the diamond pattern was caused by uncertainty in investors during the start of the corona virus outbreak.
If you could, I would suggest that you look at the graph from 2008 to now, instead of 2018 to now. The falling wedge does not exist in that scenario. I made a post recently once related to this. Here is a link to it.
Corrupt_Economy
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@reverantwitherwaywisc, I would counter that argument by saying that the whole structure from 2004 is a bullish narrowing falling wedge. Bullish by nature it gives us a target of 1.38
Corrupt_Economy
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@reverantwitherwaywisc - If I am right, we will also get an inverse H&S