Breakaway Gap down from the Rising Wedge - dirty
Breakaway gaps are often seen early in a trend when the price moves out of a chart pattern or following a trend reversal.
The green lines, especially the ones with fibo 50 and fibo 61.8 are representing targets of this historical bhreakout.
But watch out! Market interferences, political changes and other typical exogenous influences lets rising wedges never look pretty in the stock market. Expect pullbacks before the real drop. I have seen 100+ rising wedges on different timeframes and various indices. Usually, I am very cautious in trading this pattern, because of the noise around it. However, the breakaway gap is a very special invitation
The green lines, especially the ones with fibo 50 and fibo 61.8 are representing targets of this historical bhreakout.
But watch out! Market interferences, political changes and other typical exogenous influences lets rising wedges never look pretty in the stock market. Expect pullbacks before the real drop. I have seen 100+ rising wedges on different timeframes and various indices. Usually, I am very cautious in trading this pattern, because of the noise around it. However, the breakaway gap is a very special invitation