CHART CONFIRMS THE OIL BULLISH #Descending Broadening Wedge#
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Decisions to buy, sell, hold or trade in securities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of “Day Trading” involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and the ability to bear financial risks.
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WHAT CHART PATTERN USDWTI IS PROBABLY BUILDING?
This pattern appears across all forex charts and like the ascending version, the trading rule is not entirely straightforward. Based on the analysis of forex chart data there’s a slightly higher chance of an upward or bullish breakout from the pattern.
Where the wedge shows a stronger bearish tendency there’s a significantly higher probability that the market will continue to trend downwards for some time as the wedge grows. So before trading the pattern, it’s a good idea to use some pointers to try to gauge the market sentiment and which way the trend is likely to unfold.
source: forexop.com/technica...ng-broadening-wedge/
Decisions to buy, sell, hold or trade in securities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of “Day Trading” involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and the ability to bear financial risks.
************************************************************************************************************************************************************************
WHAT CHART PATTERN USDWTI IS PROBABLY BUILDING?
This pattern appears across all forex charts and like the ascending version, the trading rule is not entirely straightforward. Based on the analysis of forex chart data there’s a slightly higher chance of an upward or bullish breakout from the pattern.
Where the wedge shows a stronger bearish tendency there’s a significantly higher probability that the market will continue to trend downwards for some time as the wedge grows. So before trading the pattern, it’s a good idea to use some pointers to try to gauge the market sentiment and which way the trend is likely to unfold.
source: forexop.com/technica...ng-broadening-wedge/
