price is after last weeks correction movement within rising wedge and near breakout. Wait for clear breakout confirmation before entering this trade. Clear confirmation is close above or under wedge trend line after breakout down/up ways. In my opinion the price will break down because this wedge is build after correction movement, in general is this type of rising wedge followed by another down move. RSI try to hold up trend line but has not enough volume for big up movements.
Good luck to all and have a nice & successful week.
Good luck to all and have a nice & successful week.
Note
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Trade active
price broke wedge down side like expectedTrade closed: stop reached
Moved stop loss to 3841 and closed after todays reversal.Currently testing the wedge line. Expect fast down movement if this test fails
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The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.