Steven_Maas
Long

Double Falling Wedge Pattern EURUSD 5M

FX_IDC:EURUSD   EURO / US DOLLAR
5 months ago
Double Falling Wedge Patterns tend to breakout topside more often than not.

5 months ago
Comment:
snapshot
5 months ago
Comment: Keeping eyes on EU as it reaches apex, wedge loses buyer confidence, the longer it takes.

Apex in purple:
snapshot
5 months ago
Comment: Earlier wedge invalid.
Buyers holding new support level. @ 1.11300
Could mean wedge will move towards new 15M timeframe support in red.

snapshot
5 months ago
Comment: Oops 1.11330 instead of 1.11300
5 months ago
Comment: New support @1.11330 broken but with massive bullish pin bar, closing just above that level:

snapshot
5 months ago
Comment: NOTE: backtest falling wedge evolving into downward channel with larger apex.
5 months ago
Trade active:
snapshot
5 months ago
Comment: Reached resistance.
Noticing a lot of buyers taking profit here again.

snapshot
5 months ago
Comment: Confirmed early buyer failure to breach resistance level on 1M chart.

snapshot
5 months ago
Comment: Earlier channel resistance could become support.

snapshot
5 months ago
Comment: This might be the reason why we're not getting higher highs.
Rising wedges are often reversals of uptrends.

30M:
snapshot
5 months ago
Trade closed: stop reached: Break stops reached with a bit of slippage on the side.

NOTE TO SELF: falling wedge pattern was success, even within a larger timeframe rising wedge. However, buyers failed to punch resistance three times now. Downfall is almost certain at this point. Closing analysis.
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