If you followed my previous post, I mentioned I detected a bearish pattern, the rising wedge and to wait for confirmation for a trade to come, the trade was when we lost support on the 200EMA on the 12H time frame and shorting to the 200MA, I have now measured the targets for what is supposed to happen for this bearish rising wedge pattern, please note this does not mean 100% it will happen sometimes when there is a obvious pattern that everyone can spot, the opposite can happen to trap and liquidate traders, all we can do is long at support inside of the rising wedge and short at the resistance of the rising wedge and IF we breakdown be ready for that measured move down.
Always use Stop Loss.
Always use Stop Loss.
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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.