We may have our 3rd touch, but there is a risk that we haven't yet.
Chart Pattern Notes:
The Descending Broadening Wedge is essentially the opposite of the Ascending Broadening Wedge. The same pattern, but flipped or mirrored. Contrary to the Falling Wedge, where the price action contracts as the pattern matures, the Descending Broadening Wedge widens as the two trend lines that have formed diverge from one another.
P.S: The descending broadening wedge is considered to be a reversal pattern, and is bullish in nature. Though the pattern is typically a signal of reversal, continuation of the downtrend is still possible.
Chart Pattern Notes:
The Descending Broadening Wedge is essentially the opposite of the Ascending Broadening Wedge. The same pattern, but flipped or mirrored. Contrary to the Falling Wedge, where the price action contracts as the pattern matures, the Descending Broadening Wedge widens as the two trend lines that have formed diverge from one another.
P.S: The descending broadening wedge is considered to be a reversal pattern, and is bullish in nature. Though the pattern is typically a signal of reversal, continuation of the downtrend is still possible.
Trade closed: target reached
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.
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.