[LINKUSDT] Falling Wedge and Possible Retest
Chainlink had a clear breakout of a falling wedge but has not retracted or tested the breakout. While the huge falling wedge seems very promising, I will mention that the falling wedge is a very poor performer and bullishness may not sustain after it has reached its target.
Tom Bulkowski a author, legendary trader and regarded as the leading expert on chart patterns, has this to say about the falling wedge.
"The falling wedge is a poor performer as far as bullish chart patterns go. The break even failure rate is high and the average rise is low. The only variation that works well is a downward breakout in a bear market and the performance rank for that is in the bottom half of the list."
thepatternsite.com/fallwedge.html
Tom Bulkowski a author, legendary trader and regarded as the leading expert on chart patterns, has this to say about the falling wedge.
"The falling wedge is a poor performer as far as bullish chart patterns go. The break even failure rate is high and the average rise is low. The only variation that works well is a downward breakout in a bear market and the performance rank for that is in the bottom half of the list."
thepatternsite.com/fallwedge.html
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