Chart Pattern: Falling Wedge (Bullish Reversal)
You’ve drawn a falling wedge, which is a bullish pattern.
Price is near the apex, indicating a potential breakout soon.
📍 Current Price: ~$21.14
📉 Support Zone: $20.80–20.44
🎯 Potential Targets (Take Profits):
TP1: $22.23 (gap fill + former support)
TP2: $23.40 (previous resistance)
TP3: $24.78–25.00 (major supply zone)
🛑 Stop Loss:
Below $20.80 (safe zone: ~$20.44 or even tighter depending on risk)
🎯 Risk-to-Reward:
Looks like 1:3+ R:R potential if it breaks out cleanly
🟡 Confirmation Needed:
Break and close above wedge resistance line
Volume spike on breakout
Ideally a green bullish engulfing or hammer candle
You’ve drawn a falling wedge, which is a bullish pattern.
Price is near the apex, indicating a potential breakout soon.
📍 Current Price: ~$21.14
📉 Support Zone: $20.80–20.44
🎯 Potential Targets (Take Profits):
TP1: $22.23 (gap fill + former support)
TP2: $23.40 (previous resistance)
TP3: $24.78–25.00 (major supply zone)
🛑 Stop Loss:
Below $20.80 (safe zone: ~$20.44 or even tighter depending on risk)
🎯 Risk-to-Reward:
Looks like 1:3+ R:R potential if it breaks out cleanly
🟡 Confirmation Needed:
Break and close above wedge resistance line
Volume spike on breakout
Ideally a green bullish engulfing or hammer candle
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