A huge wedge pattern with long consolidation in between
This pattern has 250++ bars or 1 year+ data.
it is sustaining above fib level 0.5 or 360-365.
There is a supply-demand conversion zone( golden) where it may face resistance.
Entry should be after a bullish candle at the golden zone or above 400(round level).
Next, there is hidden trendline(dashed), which will act as a resistance.
How to trade?
initiate trade with a less quantity(60%) at the round level & when it touches the hidden trendline, retrace back to the 0.5 level from the previous swing
, and add more.
medium-term targets- 460, 520
SL-just below fib 0.5 level.
Happy Swing trading
it is sustaining above fib level 0.5 or 360-365.
There is a supply-demand conversion zone( golden) where it may face resistance.
Entry should be after a bullish candle at the golden zone or above 400(round level).
Next, there is hidden trendline(dashed), which will act as a resistance.
How to trade?
initiate trade with a less quantity(60%) at the round level & when it touches the hidden trendline, retrace back to the 0.5 level from the previous swing
, and add more.
medium-term targets- 460, 520
SL-just below fib 0.5 level.
Happy Swing trading