Here we have a rising wedge from a chart pattern perception. They say the are continuation patterns if this is so then price should break out the low continuing the downtrend. But buyers have a target around 132 or 134. So let’s leave that methodology on the back set and look at what the market is telling us
As volatility increases the range got narrow from the green arrow to the red buyers and sellers are defending thus price is forced into a tight range. High volatility and narrow candle within a tight area spells breakout! As this is send with last week high wave! The best approach is to market the high n low of the high wave extent it let price break and retest the mass. Now we are not retest traders as that’s a late entry and not all moves are retested but with weeks or narrowing and buyers and sellers both defending this zone .. it’s has the highest probabilities of being retest
As volatility increases the range got narrow from the green arrow to the red buyers and sellers are defending thus price is forced into a tight range. High volatility and narrow candle within a tight area spells breakout! As this is send with last week high wave! The best approach is to market the high n low of the high wave extent it let price break and retest the mass. Now we are not retest traders as that’s a late entry and not all moves are retested but with weeks or narrowing and buyers and sellers both defending this zone .. it’s has the highest probabilities of being retest