Very clean detailed S/R x Fibonacci retrace analysis, wedge depicts consolidation range tightening.
We can expect price to burst out the wedge when we see this structure forming, hopefully taking a strong trend in direction of choice.
61.8% retracement reversal potentially occurring as we approach upper wedge diagonal.
Commodity channel index overbought adding extra confluence.
Stop loss above previous candle wick, no fix take profit.
Good luck and happy trading :)
We can expect price to burst out the wedge when we see this structure forming, hopefully taking a strong trend in direction of choice.
61.8% retracement reversal potentially occurring as we approach upper wedge diagonal.
Commodity channel index overbought adding extra confluence.
Stop loss above previous candle wick, no fix take profit.
Good luck and happy trading :)
