Hello traders, a bullish wedge just completed on this pair, PA broke the upper trendline and closed above it giving us a good entry point. We anticipate a price correction, please share your thoughts in the comments section. Manage risk please. Nice trading.
I don't understand what you mean by "We anticipate a price correction" ....when you are predicting increase
eagle21
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@dgoldiner, the possible temporary increase am predicting is the correction am talking about. By definition a correction is simply a retracement or a pullback and can be bullish or bearish, it can't be limited to just one direction. In a bullish market a correction is a temporary retracement downwards before a rally of increase or bullish continuation while in a bearish market the correction would be a temporary pullback of increase upwards before a bearish continuation as shown in the analysis above. Correction, retracement, pullback are all different words and synonyms for the same occurrence.