"This strategy incorporates an Elliott Wave base, but I've simplified it.
Typically, it forms at the end of an upward or downward movement.
When you connect the lows and highs and observe the expanding WEDGE pattern:
wait for the candle to close above the upper SIDE.
If it retraces below, specifically closing below the upper SIDE, it's a signal to sell.
The stop-loss is set above The highest HIGH.
The target is the distance between the lowest and highest points of the pattern.
Have you encountered this strategy before??!
Typically, it forms at the end of an upward or downward movement.
When you connect the lows and highs and observe the expanding WEDGE pattern:
wait for the candle to close above the upper SIDE.
If it retraces below, specifically closing below the upper SIDE, it's a signal to sell.
The stop-loss is set above The highest HIGH.
The target is the distance between the lowest and highest points of the pattern.
Have you encountered this strategy before??!