Broadening Descending Wedge

19 thg 11, 2021

Potential Broadening Descending Wedge in play on Fantom USD.

4 Hour bullish divergence now showing on the 5th wave at a critical level of support.

20 thg 11, 2021

Ghi chú

Whilst this pattern was setting up there was also an Ascending Triangle pattern emerging on the 15M timeframe providing additional confluence

7 thg 12, 2021

Ghi chú

So the pattern mapped out in the initial post has not played out. It may have been completely wrong or I may have mapped the waves incorrectly. We now have bullish divergence on the 12 hour chart and a liquidity grab on the 5th wave which is common for Broadening Descending Wedge patterns.