AB=CD Breakout retest from wedge.
Updated
to the left of the chart based on the 4 hours is a clear wedge / triangle pattern. Price has retested this in the form a 61.8 retracement.
The overall weekly trend is bearish so this helps as price will go bearish.
It is now at the 61.8 level so a nice pure pattern.
A trend line break out on the smaller time frame using a reversal candlestick plus divergence will be the entry point.
The overall weekly trend is bearish so this helps as price will go bearish.
It is now at the 61.8 level so a nice pure pattern.
A trend line break out on the smaller time frame using a reversal candlestick plus divergence will be the entry point.
Order cancelled
No clear trend line breakout Cancelled
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.