FCT update... bye bye symmetrical triangle, hello falling wedge?
Hi there - so I posted a bit earlier today about a symmetrical triangle for FACTOM which I bet would break downwards. Well, it did, but without the accompanying volume that would confirm such a breakout. I also don't think it's a fakeout either.
Instead I think this is a still-developing falling wedge. We'll need to keep an eye on it, but from the looks of it, it probably will hit the apex just before Christmas. Possible target areas are in green and red. In this case, if it's a falling wedge, the breakout should be powerful, and I think it's much more likely than not to be in the positive direction.
Safe trading!!!
Instead I think this is a still-developing falling wedge. We'll need to keep an eye on it, but from the looks of it, it probably will hit the apex just before Christmas. Possible target areas are in green and red. In this case, if it's a falling wedge, the breakout should be powerful, and I think it's much more likely than not to be in the positive direction.
Safe trading!!!