As title describes, falling wedge pattern developed and could be indicative of a bullish signal, currently the elliot wave oscillator is indicating another short term downtrend (see red arrow). Flat spots on the oscillator have historically predicted another fall before the real up trend begins. Lets see what happens.
Note
Broke out of the wedge, lets see if it holds. Looks like the next resistance level is the 38% Fib resistance and there is also a large volume node on the volume profile at the same level. I love it when indicators correlate. 
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.
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.