Wedge Falling (bullish)
CURRENT CONFIDENCE = 60%
TARGET (EXIT) PRICE = 0.104489 GBP
BREAKOUT (ENTRY) PRICE = 0.103454 GBP
DISTANCE TO TARGET PRICE = 0.60% (6.2 pips)
CONFIRMED ON Jun 24, 08:16 AM (UTC)
WITH CONFIDENCE LEVEl = 68%
Tickeron AI shows that the Falling Wedge pattern forms when the price of a pair appears to be spiraling downward, and two down-sloping lines are created with the price hitting lower lows (1, 3, 5) and lower highs (2, 4). The two pattern lines intersect to form a narrow triangle. Unlike Descending Triangle patterns, however, both lines need to have a distinct downward slope, with the top line having a steeper decline.
This pattern is commonly associated with directionless markets, since the contraction (narrowing) of the market range signals that neither bulls nor bears are in control. However, there is a distinct possibility that market participants will either pour in or sell out, and the price can move up or down with big volumes (leading up to the breakout).
TARGET (EXIT) PRICE = 0.104489 GBP
BREAKOUT (ENTRY) PRICE = 0.103454 GBP
DISTANCE TO TARGET PRICE = 0.60% (6.2 pips)
CONFIRMED ON Jun 24, 08:16 AM (UTC)
WITH CONFIDENCE LEVEl = 68%
Tickeron AI shows that the Falling Wedge pattern forms when the price of a pair appears to be spiraling downward, and two down-sloping lines are created with the price hitting lower lows (1, 3, 5) and lower highs (2, 4). The two pattern lines intersect to form a narrow triangle. Unlike Descending Triangle patterns, however, both lines need to have a distinct downward slope, with the top line having a steeper decline.
This pattern is commonly associated with directionless markets, since the contraction (narrowing) of the market range signals that neither bulls nor bears are in control. However, there is a distinct possibility that market participants will either pour in or sell out, and the price can move up or down with big volumes (leading up to the breakout).
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