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Dent seems to be in a busted falling wedge.
According to "thepatternsite.com/fallwedge.html":
"After a downward breakout, price sometimes curls around the front of the wedge and soars upward. The busted pattern presents a profit opportunity from the long side."
You can see that the RSI break up higher
&&
it seems like a double bottom at the edge of the falling wedge!
I will not tell the target for this trade setup but the stop loss is about the 0.002.
Good Luck!!
Dent seems to be in a busted falling wedge.
According to "thepatternsite.com/fallwedge.html":
"After a downward breakout, price sometimes curls around the front of the wedge and soars upward. The busted pattern presents a profit opportunity from the long side."
You can see that the RSI break up higher
&&
it seems like a double bottom at the edge of the falling wedge!
I will not tell the target for this trade setup but the stop loss is about the 0.002.
Good Luck!!
Note
OK! I must say I was not so correct about the double bottom but this can be playing out:
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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.