Descending Triangle in an Uptrend

Atualizado

A falling wedge is often considered to be a bearish pattern , and in these cases the break down is usually accompanied by decreasing volume. Alternately, consistent or increasing volume at the apex of the Triangle can precede a strong break upward as a continuation in the longer-term uptrend.

Nota

As expected, we broke upward of the descending triangle. I think we can expect a day or two of consolidation at this level before moving to the top of the channel with a couple stops in-between.

Nota

We are on track-- albeit a few bars later than predicted. There is strong resistance at 5350, so we can expect some sideways movement before heading to the top of the channel.

Nota

5350 didn't hold, so this is tracking precisely on the green path... 5900 incoming :)

Shankt

Aviso legal

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