Reddcoin now in Ascending Broadening Wedge - Bullish
Just noticed Reddcoin - RDD is forming an Ascending Broadening Wedge
Price is stable now at 0.0020$, support is also very well satoshi wise.
Definition;
1 – The Ascending Broadening Wedge
The Ascending Broadening Wedge is one of six Broadening Wedge patterns to be found in price charts.
Broadening Wedges are plentiful in price charts and can provide good risk and reward trades. The broadening aspect of them suggests increasing price volatility and increasing volume this spells out opportunity.
Identifying Ascending Broadening Wedges
Price makes a low and rises. We then track price as it rises away from the low. We are looking for higher highs and higher lows in a tight range.
The higher highs make a rising trend line, this forms the upper boundary to our pattern. The higher lows make a lower rising trend line, this forms the lower boundary to our pattern.
With the Ascending Broadening Wedge formation we are looking for three peaks and three valleys with tops and bottoms forming the trendlines. Three touches to each trendline.
Both the upper and lower trendlines should rise. The upper trendline should rise more steeply than the lower trendline thus forming the broadening wedge.
Tall and wide patterns work better than short and narrow patterns.
Price is stable now at 0.0020$, support is also very well satoshi wise.
Definition;
1 – The Ascending Broadening Wedge
The Ascending Broadening Wedge is one of six Broadening Wedge patterns to be found in price charts.
Broadening Wedges are plentiful in price charts and can provide good risk and reward trades. The broadening aspect of them suggests increasing price volatility and increasing volume this spells out opportunity.
Identifying Ascending Broadening Wedges
Price makes a low and rises. We then track price as it rises away from the low. We are looking for higher highs and higher lows in a tight range.
The higher highs make a rising trend line, this forms the upper boundary to our pattern. The higher lows make a lower rising trend line, this forms the lower boundary to our pattern.
With the Ascending Broadening Wedge formation we are looking for three peaks and three valleys with tops and bottoms forming the trendlines. Three touches to each trendline.
Both the upper and lower trendlines should rise. The upper trendline should rise more steeply than the lower trendline thus forming the broadening wedge.
Tall and wide patterns work better than short and narrow patterns.
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