While I've been confident we would break up from the current rising wedge instead of down from the head and shoulders pattern for roughly a week now, I wasn't sure if that would be before another retest of the head and shoulder neckline at the bottom of the wedge or not, but now we have two 4 hour candles up out of the rising wedge with an hour and 5 minutes left before the current one's close. Until we see a surge in bullish volume we haven't confirmed the breakout so keep that in mind...I'd say a smart place to buy in would be a couple pips above the 4hr 50ma (in orange) because that is our current resistance and for us to reach 2 pips above it will likely require flipping it from resistance to support. I'm confident if we flip that moving average to support we will confirm the breakout so I have a stop buy set up for 2 pips above the ema.
評論:
I meant Falling Wedge of course. I have referred to it as falling wedge several times in the past few ideas and just simply had a brainfart this time but now it's too late to edit it.