A falling wedge is a bullish chart pattern (said to be "of reversal"). It is formed by two converging bearish lines.
A falling wedge is confirmed/valid if it has a good oscillation between the two falling straight lines. The upper line is the resistance line; the lower line is the support line.
Each of these lines must have been touched at least twice to validate the pattern.
A break of the resistance line definitively validates the pattern. This break out is generally accompanied by high volumes. The price objective is determined by the highest point that caused the wedge to form.
NB: it is often observed that the steeper the falling wedge’s trend lines, the faster the price objective is reached.
For XRP this is of course a load of crap, but it keeps me from jumping into a pool filled with great whites...
A falling wedge is confirmed/valid if it has a good oscillation between the two falling straight lines. The upper line is the resistance line; the lower line is the support line.
Each of these lines must have been touched at least twice to validate the pattern.
A break of the resistance line definitively validates the pattern. This break out is generally accompanied by high volumes. The price objective is determined by the highest point that caused the wedge to form.
NB: it is often observed that the steeper the falling wedge’s trend lines, the faster the price objective is reached.
For XRP this is of course a load of crap, but it keeps me from jumping into a pool filled with great whites...
Trade active