Dimitrysdesk

Dimitrysdesk

As you can see rising wedge is a way to identify consolidation, which is the visual representation of indecision. We also know that this indecision often occurs after a sharp , extended move up or down. However, the real benefit of these patterns is not so much the consolidation itself, but rather the price action that follows. When this happens, we can...

Dimitrysdesk Updated 

Price action is hovering above .618 fib on a daily. RSI is showing bullish divergence as well. Last time we had 50MA cross down below 200MA, we rebounded 40%+ before resuming the downtrend for the death cross.