A rare look at the weekly chart
Hey all, just wanted to show you guys a chart that I rarely use but can come in super handy when long term patterns emerge: The 1 week chart. Here we can see that another much larger descending wedge has formed with enough touches on the top trendline and bottom trendline to validate them, odds are very good it will break upwards just like the last descending wedge we had on the 4hr/1day time frames. The potential upside to a bullish breakout like this is rather massive so buckle up. We should know which way this wedge is going to breakout no later than the 23rd...Just in time for my birthday! I am anticipating a very happy birthday indeed! On the way there we may experience some minor retracements at which point I will simply be buying the dips and don't plan on shorting anything unless it takes a dive in the enxt day or 2 all the way back to the eve trendline. I am only going to short fractional amounts if it starts treating the 4hr 200ma consistently as resistance. and will buy back around the 4 hr buy sell line and dipbuy anything more that dips below it. You of course choose your own path as this is not financial advice. Thanks for reading and good luck!
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