WAVESBTC

WAVESBTC

THE FALLING WEGDE

The falling wedge is a very poor performer as far as bullish chart patterns go. The break even failure rate is high and the average rise is low. Price trend Can be any direction leading to the pattern. The shape of the Price follows two down-sloping and converging trendlines.Price should touch each trendline at least five times to outline a good pattern. That's 3 touches of one trendline and 2 of the opposite. Most of the times it has 3 weeks is the minimum duration, otherwise it's a pennant. The Volume Trends downward 72% of the time until the breakout.
Breakout Can be in any direction but is upward 68% of the time.The pattern confirms as a valid one when price closes outside one of the trendlines.

Volume has moved down 72% and a BULLISH REGULAR DIV is really obvious.

TECHNICALS suggests a strong price breakout, if price breaks out and closes outside the wegde.

 

Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.

$COV HODL

Trade Ideas
View all