Fairly large rising wedge seen here on the 6hr. I've been watching this for about one week, it's made for a couple good trading opportunities. This wedge is large so it could go on for another week or end as early as tomorrow based on the current path projection.
Indicators
Rising wedge
Volume decrease last few days
OBV losing steam
6hr Macd flipped
Target
290
Time Frame
1-7 days
Thoughts
We won't have confirmation until it breaks one way or the other. If I had to make an educated guess based on the current chart and the fact that a rising wedge is a bearish indicator I'm going to say it's breaking down.
Indicators
Rising wedge
Volume decrease last few days
OBV losing steam
6hr Macd flipped
Target
290
Time Frame
1-7 days
Thoughts
We won't have confirmation until it breaks one way or the other. If I had to make an educated guess based on the current chart and the fact that a rising wedge is a bearish indicator I'm going to say it's breaking down.
Note
Wedge validated broke through at 330.Note
Broke up through resistance. It's time to visit my moon chart.
Trade closed manually
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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.