![]() Potential setup - Look for potential reversal at the key levels. Descending Wedge Pattern in Apples stocks with Four-Hours temporality. Additionally, What is a falling wedge in trading Generally, a falling wedge is seen as a reversal, though there are instances where it might help a trend. The slope of the trend line representing the highs is lower than the slope of the trend line representing the lows, indicating that the highs are decreasing more rapidly than the lows. ![]() It is categorized as a bullish reversal chart pattern. Key levels - Resistance: 3450–3480 Support: 3420–3430, 3400, 3300–3320 A falling wedge is a chart pattern formed by drawing two descending trend lines, one representing highs and one representing lows. The rate of printing lower Lows eventually eases faster than the rate of printing lower Highs though and this generates a squeeze type of move yielding the wedge-shaped pattern as shown in Figure 1 below. 16:20 rising wedge with increasing volumeĬheck out my daily market analysis video in the last session if you haven’t in order to better relate to the market recap and the trade review.īias - neutral (Day trading) bullish (long term) The Descending Wedge is a pattern that forms up when price action has pulled back from a High and consolidates in a declining move. ![]()
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