Falling Wedge MCOBTC MID to LONG low risk reward ENTRY
Updated
forexop.com/technical/falling-wedge-pattern/
For more info on this indicator; read the link above.
Everything listed is in the chart above including:
*Target 3 (key target for TP for it represents the pivot & is quintessential in determining whether or not we'll have a continuity, in which case:
The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. ...
As a reversal pattern, the falling wedge slopes down and with the prevailing trend.
Overall, this presents itself as a much better (LONG) position though TP1 & 2 are geared for shorts for those interested
Disclaimer
Not Financial Advise
- a1mtarabichi
For more info on this indicator; read the link above.
Everything listed is in the chart above including:
- Targets 1 & 2 (for the conservative trader) 72-90 HRS est -- a great SHORT TP exit if you're not into HODLing
*Target 3 (key target for TP for it represents the pivot & is quintessential in determining whether or not we'll have a continuity, in which case:
Target 4: this is the ideal EXIT position we're looking for -- assuming current trends and indicators remain in effect; timeframe speculative though est. 7-10 DAYS est
The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. ...
As a reversal pattern, the falling wedge slopes down and with the prevailing trend.
Overall, this presents itself as a much better (LONG) position though TP1 & 2 are geared for shorts for those interested
Disclaimer
Not Financial Advise
- a1mtarabichi
Note
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