META - Exciting opportunity this week! THE GOLDEN WEDGEWill we see the first ever (Coined in this video) golden wedge this week!? It's a huge part of my trading and a great way to identify a breakout incoming - especially on a stock like META where volatility and volume is huge on a daily basis.
The Golden Wedge is basically when price uses our strongest controlled selling algorithm (Magenta here) to build liquidity and this acts as support to push us back into our less strong controlled selling algorithm (Teal here). Once that happens, we'll see teal acting as support and proving sell-side tapering (meaning buyers have regained stronger control and have dug deep enough to make a move higher). The wedge happens in between the resistance of the top of our strong selling magenta and the support of the bottom of our weaker selling teal.
Look forward to seeing you all there if/when it happens - and if not, we are still prepared for other trades as we have the proven algorithms and now just need to see where price goes and who is in control entering the trading week.
Please join me tomorrow at market open (9:30 AM EST) where I will be trading live on stream here on TradingView and taking trades, analyzing charts, and having fun with our awesome community.
And as always,
Happy Trading :)
