Wedge within a wedge - I just invented this pattern. I dub thee 'the wedgy pattern' (TM).
Price has gapped under the inner wedge.
Shaded area represents an important area for price to maintain.
A break of outer wedge would confirm my trade thesis. Sell short.
Historically, volume spikes seem to imply a start of a short-term downward trend. This holds true for the last 6-10 months.
Price has gapped under the inner wedge.
Shaded area represents an important area for price to maintain.
A break of outer wedge would confirm my trade thesis. Sell short.
Historically, volume spikes seem to imply a start of a short-term downward trend. This holds true for the last 6-10 months.