Price sold below the RWP ( RISING WEDGE PATTERN)
before a pullback to retest lower channel trend line
. A retest of the lower channel trend line
is the trigger for a short entry which is bearish
until the next logical support region. The first support region is at 1.20867-1.20789
and the second at 1.20269-1.20198
region on the chart.
The strength of a RWP depends on the measure of convergence of the trend lines
at the apex of the channel trend. This is a good pattern for a short entry within a bullish trend
Hope you've enjoyed the read, more RWP analysis ideas are welcomed!