Here we see two rising wedge patterns, the red one is already completed and the orange has yet to break down. Both were preceded by a sharp drop in price and a swift bounce up. Both had bearish divergence on the RSI and the MACD. In both cases bulls were not able to keep a rising channel open, which is why the wedge develops and the price action breaks down.
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion
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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.