Wedge Falling (bearish)CURRENT CONFIDENCE = 54%
BREAKOUT (ENTRY) PRICE = 69.218000 RUB
TARGET (EXIT) PRICE = 68.792000 RUB
DISTANCE TO TARGET PRICE = 0.33% (22.5 pips)
EMERGED ON Jun 25, 01:00 PM (UTC)
CONFIRMED ON Jun 25, 01:59 PM (UTC)
WITH CONFIDENCE LEVEL = 64%
Tickeron AI shows that the Falling Wedge pattern forms when prices appear to spiral downward, with lower lows (1, 3, 5) and lower highs (2, 4) creating two down-sloping trend lines that intersect to form a triangle. Unlike Descending Triangle patterns, however, both lines need to have a distinct downward slope, with the top line having a steeper decline.
This pattern is commonly associated with directionless markets since the contraction (narrowing) of the market range signals that neither bulls nor bears are in control. However, there is a distinct possibility that market participants will either pour in or sell out, and the price can move up or down with big volumes (leading up to the breakout).
