Rising Wedge Breakout - As a Continuation Pattern - RR 1 : 3.90
MGL sell Below 834.60
Stoploss - 855
Target - 756
Risk - 2.42% & Reward 9.42%
RR Ratio 1 : 3.90
Reversal or Continuation Pattern
Rising Wedge
Prices are moving upward, forming higher highs and higher lows, but the price is confined within two lines which get closer together to create a pattern. This indicates a slowing of momentum and it usually precedes a reversal to the downside. This means that you can look for potential selling opportunities.
Stoploss - 855
Target - 756
Risk - 2.42% & Reward 9.42%
RR Ratio 1 : 3.90
Reversal or Continuation Pattern
Rising Wedge
Prices are moving upward, forming higher highs and higher lows, but the price is confined within two lines which get closer together to create a pattern. This indicates a slowing of momentum and it usually precedes a reversal to the downside. This means that you can look for potential selling opportunities.
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