Price Declining into Descending wedge
Updated
GMT price is falling under .4 in a descending wedge.
Based on the macro, I expect it to continue to decline before breaking the downtrend at some later point.
This is a new asset for me - it prints a really clear picture vs more competitive assets - I'll be trading this one.
If .4 is gained, and the descending channel is broken, I would re-asses but it looks like it will continue the decline.
Based on the macro, I expect it to continue to decline before breaking the downtrend at some later point.
This is a new asset for me - it prints a really clear picture vs more competitive assets - I'll be trading this one.
If .4 is gained, and the descending channel is broken, I would re-asses but it looks like it will continue the decline.
Note
This broke out - I should have probably said that these break out like 83% of the time to the upside. I made money on the long break.
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