For this go around we will see how prices fill the falling wedge
pattern. A falling wedge
indicates a bullish
bias. Areas of entry for long positions are shown with the arrows and are approximate. The second arrow gets a little too close to the apex of the wedge
. If price gets too close to the apex, the point of the falling wedge
, then this may indicate a weak break out to the up side. This will mean weaker prices not climbing as high as they could have. A well formed wedging of prices will not come too close to the end of the wedge
. Although I have see prices on occasion do a fairly good climb even after price came very close to the apex before the break out. Nothing concerning patterns and their rules is set in stone. You have to allow for a little bit of leeway. Last but not least, the two lower blk
lines on the chart are for later considerations for entry into long positions if and when price reaches these levels.