The mean. Wedge center line resistance.
Updated
When drawing your wedge (pennant flag), notice it points literally to a resistance price.
This is where I would put a limit sell order. Watched tightly.
This is where I would put a limit sell order. Watched tightly.
Note
Or of course when the stock has a catalyst and is blowing past this line. You then wait for the price to come back to this line and buy at support.Note
missed the wick. It did catch the next leg down centerline resistance though.Trade closed: target reached
Nov 7 a wick reached it.
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