Classic rising wedge . 90% of wedge breaks downside.
Yesterdays speech with expected popup is down to gutters.
I expect a slow fall towards 1223 which is crucial support at 0.5 fib.
Whereas upside is limited to 1248 - 1250.
This provides best Risk-Reward ratio.
Note: I am long from 1205 as well
Scalp Short 1244
Trade closed manually:
Closed Short at 1236.55
Looking for another Short entry if test of 45 fails.
clear break 45 leads to near term resistance 48-51 zone and then towards channel top 1260
With this Momentum. Breaking the wedge upside may enters the bullish zone. Next takeout will be 1251-52 Resistance Zone
We have breakout
let see if it clears 1248.5 resistance
oops hazy chart
Clears first resistance 1248.72.
Wont be updating this anymore. Pls look at this chart Ideas for broader TF. Thanks