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STATUS = Confirmed
CURRENT CONFIDENCE = 60%
TARGET (EXIT) PRICE = 0.897330 CAD
BREAKOUT (ENTRY) PRICE = 0.893710 CAD
DISTANCE TO TARGET PRICE = 0.44% (38.9 pips)
EMERGED ON Jul 22, 09:00 PM ( UTC )
CONFIRMED ON Jul 22, 08:59 PM ( UTC )
WITH CONFIDENCE LEVEL = 68%
I found this pattern at tickeron website with the following data:
The Falling Wedge pattern forms when the price of a pair appears to be spiraling downward, and two down-sloping lines are created with the price hitting lower lows (1, 3, 5) and lower highs (2, 4). The two pattern lines intersect to form a narrow triangle. Unlike Descending Triangle patterns, however, both lines need to have a distinct downward slope, with the top line having a steeper decline.
This pattern is commonly associated with directionless markets, since the contraction (narrowing) of the market range signals that neither bulls nor bears are in control. However, there is a distinct possibility that market participants will either pour in or sell out, and the price can move up or down with big volumes (leading up to the breakout).
CURRENT CONFIDENCE = 60%
TARGET (EXIT) PRICE = 0.897330 CAD
BREAKOUT (ENTRY) PRICE = 0.893710 CAD
DISTANCE TO TARGET PRICE = 0.44% (38.9 pips)
EMERGED ON Jul 22, 09:00 PM ( UTC )
CONFIRMED ON Jul 22, 08:59 PM ( UTC )
WITH CONFIDENCE LEVEL = 68%
I found this pattern at tickeron website with the following data:
The Falling Wedge pattern forms when the price of a pair appears to be spiraling downward, and two down-sloping lines are created with the price hitting lower lows (1, 3, 5) and lower highs (2, 4). The two pattern lines intersect to form a narrow triangle. Unlike Descending Triangle patterns, however, both lines need to have a distinct downward slope, with the top line having a steeper decline.
This pattern is commonly associated with directionless markets, since the contraction (narrowing) of the market range signals that neither bulls nor bears are in control. However, there is a distinct possibility that market participants will either pour in or sell out, and the price can move up or down with big volumes (leading up to the breakout).
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