Longing GRT after Falling Wedge [tutorial] with example
This is a Tutorial how to use the falling Wedge pattern as longing condition because its relativ reliable.
The falling Wedge is a reversal pattern which will form during an uptrend, so it will interrupt the prior trend. Which isnt that easy to identify if you dont have any experience.(Tip just use the Indicator from tradingview it will work great and do a lot of work for you ;) )
Another significant feature is the contraction over the elapsing time until mostly continuation of the previous trend, that will be the time we look for confirmation and long this position.
At number 1 you can see the difference between the highest and the lowest point of the wedge which will be the target range of our taking profit after we broke the resistance. The bottum/supportline is the stop lose range.
At number 2 you can see my position based on the numbers from number 1.
number 3 and 4 is just repeated 1 and 2.
if you spend a lot of time infront of your PC you can set the stop lose high so it will become another stop lose and you have garanted profit.
Dont get cocky and set to wild leverages.
This isnt a financally advise!
i dont take responsibilities, so calculate your own risk and do your own research
The falling Wedge is a reversal pattern which will form during an uptrend, so it will interrupt the prior trend. Which isnt that easy to identify if you dont have any experience.(Tip just use the Indicator from tradingview it will work great and do a lot of work for you ;) )
Another significant feature is the contraction over the elapsing time until mostly continuation of the previous trend, that will be the time we look for confirmation and long this position.
At number 1 you can see the difference between the highest and the lowest point of the wedge which will be the target range of our taking profit after we broke the resistance. The bottum/supportline is the stop lose range.
At number 2 you can see my position based on the numbers from number 1.
number 3 and 4 is just repeated 1 and 2.
if you spend a lot of time infront of your PC you can set the stop lose high so it will become another stop lose and you have garanted profit.
Dont get cocky and set to wild leverages.
This isnt a financally advise!
i dont take responsibilities, so calculate your own risk and do your own research
Trade closed: target reached:
Just wanted to mention that the realised Roi was 390% and 60%
