Price appears to have been in a Rectangle which is a consolidation pattern.
Rectangles are also known as Horizontal Trading Ranges and these can break up or down. This one broke to the upside.
Looks like a rising wedge formed which is bearish in the end, although price can break upward from a rising wedge. Price fell out of the wedge to the downside. Rising wedges signal too much supply inside the wedge and both trendlines slope up and narrow at the apex.
Small Symmetrical triangle has formed with the top line representing resistance and the bottom line is support. Triangles are neutral until broken with a trend in that direction. Some would wait for 2 closes in that direction, but this can vary. We are all different (o:
Targets calculated using the width of the wide end of the triangle and Fib levels were applied.
No recommendation.
Rectangles are also known as Horizontal Trading Ranges and these can break up or down. This one broke to the upside.
Looks like a rising wedge formed which is bearish in the end, although price can break upward from a rising wedge. Price fell out of the wedge to the downside. Rising wedges signal too much supply inside the wedge and both trendlines slope up and narrow at the apex.
Small Symmetrical triangle has formed with the top line representing resistance and the bottom line is support. Triangles are neutral until broken with a trend in that direction. Some would wait for 2 closes in that direction, but this can vary. We are all different (o:
Targets calculated using the width of the wide end of the triangle and Fib levels were applied.
No recommendation.
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