just some lines ad indicators. see previous short idea. same stat and probability:
Rising wedge statistics
- In 82% of cases, the exit is bearish. - In 55% of cases, a rising wedge is a reversal pattern. - In 63% of cases, the pattern’s price objective is achieved when the support line is broken. - In 53% of cases, the price makes a resistance pullback on the rising wedge’s support line. - In 27% of cases, false breaks (false exits) appear.
Notes on rising wedges
- The contact points on the rising lines must be significant because otherwise it might be a flag. - The steeper the rising wedge’s trend lines (rising strongly), the more severe the downward movement is at the breakout (exit from the chart pattern). - False breaks (or false exits) give an indication of the direction of exit. If a false bearish break occurs, the exit will be upwards in only 3% of cases. Exploiting a false bearish break is therefore statistically low risk. - Retracements are generally twice as fast as the rising wedge was in its formation. - Pullbacks are detrimental to the pattern’s performance. - The break out point (exit) generally occurs at 60% of the length of the rising wedge. - Very wide rising wedges give better performance than narrow rising wedges.
Comment
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Comment
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eth/uni lookoing set for bearish movement. not a bad gamble
Trade closed: target reached
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1st target reached. trade manual closed. still short tho