Hi All,
This descending broadening wedge can be reversal for the short term while the shorts are extremely high which is what the exchanges and whales look for, to liquidate such high shorts numbers.
Its a likely scenario to go bullish short term.
It has a 35% chance to the upside and 65% to the downside because of the downtrend.
If we were on an uptrend, we would have seen this as a continuation pattern.
Note how the WT indicator helps define the lines to stalk and confirm the breakout trade.
What is the price target for this potential brake out trade.
Height of this formation from the breakout line.
s3.tradingview.com/s...shots/3/3YKZjRNx.png
All the best,
S.SAri.
This descending broadening wedge can be reversal for the short term while the shorts are extremely high which is what the exchanges and whales look for, to liquidate such high shorts numbers.
Its a likely scenario to go bullish short term.
It has a 35% chance to the upside and 65% to the downside because of the downtrend.
If we were on an uptrend, we would have seen this as a continuation pattern.
Note how the WT indicator helps define the lines to stalk and confirm the breakout trade.
What is the price target for this potential brake out trade.
Height of this formation from the breakout line.
s3.tradingview.com/s...shots/3/3YKZjRNx.png
All the best,
S.SAri.
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This community has signals now but with no risk management comms.
