Looking at these two rising wedge patterns right before the July Squeeze, they both have a very common similarity... They are the same pattern, but almost twice the price scale.
Measuring from the support, in early July we had about 18% upside movement to the highest point, in 11 days and 4 hours.
In August, we had about 30% up movement from the market structure support we compared to in the July pattern, in 22 days and EIGHT hours.
Now the real question whether to open a long or short at this time, is whether the 0.236 fib level will hold.
Measuring from the support, in early July we had about 18% upside movement to the highest point, in 11 days and 4 hours.
In August, we had about 30% up movement from the market structure support we compared to in the July pattern, in 22 days and EIGHT hours.
Now the real question whether to open a long or short at this time, is whether the 0.236 fib level will hold.
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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.