A right-angled descending broadening wedge is a bullish reversal pattern.
Confluence with uptrend diagonal support.
Upside target is the width of the wedge at breakout. Should at least see a bounce here even if we are heading lower.
As we know triangles can break out in either direction however ascending triangles favour an upward breakout. Rather than guessing we should wait for a candle close on either side of the trend line. Will be looking for increased volume on breakout too.
If we breakdown I'm looking towards the monthly open as the next major support area. If we break upward I'll...
