We have completed a third touch of a rising wedge pattern on the intraday charts, and we have seen a double top pattern inside a rising wedge pattern. Plenty of space to the downside. There is the risk that price completes a bull flag or finds support at the bottom of the rising wedge pattern.
Trade closed: target reached
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Price closed to achieve a 3.89% reward and seem to have broken the rising wedge pattern structure. It is possible to see a retest rejection before continuing lower.
Price closed to achieve a 3.89% reward and seem to have broken the rising wedge pattern structure. It is possible to see a retest rejection before continuing lower.