Falling Wedge Formation in 1H timeframe..!!
In the case of an Upside Breakout, I am expecting a +10% Bullish Wave.
Falling Wedge Formation
The falling wedge is a graphic pattern of reversal of a downtrend in 68% of cases and continuation in 32% of cases. When the Falling Wedge occurs in a downtrend it is considered a reversal Falling Wedge or falling reversal wedge to announce a trend reversal.
However, when the falling wedge occurs in an uptrend it is considered a consolidation falling wedge or falling wedge pullback to signal a continuation of the previous uptrend.
In the case of an Upside Breakout, I am expecting a +10% Bullish Wave.
Falling Wedge Formation
The falling wedge is a graphic pattern of reversal of a downtrend in 68% of cases and continuation in 32% of cases. When the Falling Wedge occurs in a downtrend it is considered a reversal Falling Wedge or falling reversal wedge to announce a trend reversal.
However, when the falling wedge occurs in an uptrend it is considered a consolidation falling wedge or falling wedge pullback to signal a continuation of the previous uptrend.