Wedge in an Upper Trend SPX index
In this chart we can be see a pattern forming. Which is a upper trend wedge.
We can see that the either of the resistances nor the support lines are broken. So the patter grows much stronger and each time that the price touch each line it can bee seen so much easier.
This wedge can be either going for a long position or a short position because wedges can be a reversal pattern or a continuous pattern.
I chose to take a long position in this one.
We can see that the either of the resistances nor the support lines are broken. So the patter grows much stronger and each time that the price touch each line it can bee seen so much easier.
This wedge can be either going for a long position or a short position because wedges can be a reversal pattern or a continuous pattern.
I chose to take a long position in this one.
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