It is a bit early to predict a falling wedge formation as it is based on the drop in the last few days that may not have completed falling
Anyway - if it holds here and goes up, we may be in a large scale falling wedge pattern.
This is a change from the large scale flat bottom triangle that we had for most of the year.
If this pattern holds, there will be more ups and downs within this pattern so you can try to make money on those swings if thats what you enjoy doing.
I am not trying to predict the breakout of the wedge as that is a long way off.
It could rocket up (RED), break down (not shown) or dawdle along (PINK) gradually going up at an increasing pace (this is my best guess)
Anyway - read up on Falling Wedge patterns so you understand how they are expected to work
I am not emotionally attached to this idea. It is just food for thought.
If the pattern breaks down. just throw this idea away and find another one
Anyway - if it holds here and goes up, we may be in a large scale falling wedge pattern.
This is a change from the large scale flat bottom triangle that we had for most of the year.
If this pattern holds, there will be more ups and downs within this pattern so you can try to make money on those swings if thats what you enjoy doing.
I am not trying to predict the breakout of the wedge as that is a long way off.
It could rocket up (RED), break down (not shown) or dawdle along (PINK) gradually going up at an increasing pace (this is my best guess)
Anyway - read up on Falling Wedge patterns so you understand how they are expected to work
I am not emotionally attached to this idea. It is just food for thought.
If the pattern breaks down. just throw this idea away and find another one