As price broke the bottom of the wedge, it quickly returned back up. This entails a false break and price may rally to break the top of the wedge
Trade closed: target reached:
Our First objective for GU has been met as we have reached the top of the wedge.
We are now observing on what price will do at this point. Will it break through or reverse back to the bottom of it.
We are now observing on what price will do at this point. Will it break through or reverse back to the bottom of it.
Comment:
So far so good. If the week closes with price above the upper wedge, we might see higher prices in this pair. Let's closely watch
We might touch the top of the wedge and reverse back or even break the wedge which might send price even higher.