Hi all. Okay, so as I understand it, price action can go either way out of a rising or ascending wedge...
but historically tends to fall out of the wedge. But it CAN break to the upside also. I've seen both in different charts at different times.
Here you can see rising wedge 1 broke down, but rising wedge 2 broke upwards with some gusto.
Now here we are moving up in a larger wedge.
Could go either way.
What would your bet be, and why? I'd love to hear your viewpoint.
Cheers and best of luck in 2018!
but historically tends to fall out of the wedge. But it CAN break to the upside also. I've seen both in different charts at different times.
Here you can see rising wedge 1 broke down, but rising wedge 2 broke upwards with some gusto.
Now here we are moving up in a larger wedge.
Could go either way.
What would your bet be, and why? I'd love to hear your viewpoint.
Cheers and best of luck in 2018!