The structure resembles a descending triangle, but the lower trendline has a slight upward slope—this introduces wedge-like characteristics.
• Price has broken below a previous support level and is now testing the lower boundary of the pattern.
• This could lead to either a breakdown or a bullish reversal, depending on momentum and upcoming macro triggers.
• Price has broken below a previous support level and is now testing the lower boundary of the pattern.
• This could lead to either a breakdown or a bullish reversal, depending on momentum and upcoming macro triggers.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.