In case of bearish breakout of a rising wedge pattern base on technical analysis text book, we could expect more bearish move in price.
Also we can see in the last bullish move price formed a bearish divergence.
Also price managed to shift market structure to bearish in lower timeframe which add to the possibility of bearish move.
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Also we can see in the last bullish move price formed a bearish divergence.
Also price managed to shift market structure to bearish in lower timeframe which add to the possibility of bearish move.
If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
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Expecting price to continue moving in our direction.Trade active
As long as the price fails to create a new high and surpasses 1.36000, this analysis remains valid, and the recent bullish move would be considered a pullback towards a broken rising wedge pattern.
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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.