Right Angled Descending Broadening Wedge
Chart Story here is.. from a Ascending broadening wedge the bears took it down.. and there was a great chance that a Bullish divergence would appear.
It did... course went up and so a Descending triangle formation was there to bring the course down again. Because the price then widens a bit on the downside in a sideways move, I consider it a Right Angled Descending Broadening Wedge for now.
Besides this pattern, you could probably also make a W pattern out of it but the characteristic of the Broadening wedge is "often", that after hitting the top or bottom 2 or 3 times the price comes back halfway during a rise or fall and then breaks out.
these scenario's makes it possible to trade them but in times of macro economic uncertainties at the moment, caution is advised at all times. manage your risks at all times.
disclaimer: this is not a financial advise
It did... course went up and so a Descending triangle formation was there to bring the course down again. Because the price then widens a bit on the downside in a sideways move, I consider it a Right Angled Descending Broadening Wedge for now.
Besides this pattern, you could probably also make a W pattern out of it but the characteristic of the Broadening wedge is "often", that after hitting the top or bottom 2 or 3 times the price comes back halfway during a rise or fall and then breaks out.
these scenario's makes it possible to trade them but in times of macro economic uncertainties at the moment, caution is advised at all times. manage your risks at all times.
disclaimer: this is not a financial advise
Tims.Technische.Analyse by TIMTIBBO
2 day chart to get an overview on the chart.. and yes there is room to go down a little more so manage your risks at all times.