NZDCHF Rising wedge fakeout
A fakeout has formed, making it seem like the price broke above the pattern but then failed, leaving a significant shadow as a sign of rejection at the trendline. Additionally, there is a 0.786 Fibonacci area around that region.
Typically, the target for a rising wedge pattern is a downward movement, which increases our optimism for short selling.
SL: 0.55152 (13 pips)
TP: 0.54697 (+2.5)
Typically, the target for a rising wedge pattern is a downward movement, which increases our optimism for short selling.
SL: 0.55152 (13 pips)
TP: 0.54697 (+2.5)
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