break of rising wedge and break of horizontal support in a downsloper doesn't bode well
target is the yellow oval circle at the median line
Well, it looks like it has
In the upsloper a modified downsloper and now move above upper parallel of this.
Further upside very likely, current price 1.987
Back to the median line of the upsloper and maybe higher.
characteristics of a rising wedge pattern, most unreliable pattern ever.
drawning the lines over and over again.
this is an new attempt.
healthy correction in a strong uptrend
support of the lower parallel coming in around 1.880
I like this new MtS upsloper, used another pivot point to catch price.
See how the spikes at the upper parallel and at the median line reversed.
Price at 1155,
some form of rising wedge or bearish flag in downsloper,
if lower upsloping trendline is broken maybe move to the median line
Move above the downsloping trendline that is connecting highs is a buy
Neckline ~ 50
Weak relative strength compared to other indexes,
and now price breaking down a line that must hold,
almost break of upsloping trendline in a downsloper
Just broken an upsloping trendline,
let's see if these action-reaction lines are of value in future
stage 3 of Weinstein theory,
New breakout ,
Or a breakdown coming
Lower top in place,
H&S pattern with neckline at 182,
holding on the sliding parallel of upsloper,
chart to watch for next week,
odds of follow through are high
Double top in place,
downsloper in effect,
some support of horizontal line,
test of lower upsloping trendline of the trendchannel coming ???
Maybe setting up for a bounce,
if above downsloping trendline it could go higher
also closing in to a support level of the horizontal line