I'm really not good at analysis when markets are in a range and predicting the breaks unless the breakout patterns are strong and impending.
IN this case, it could be a Rising Wedge, which requires a breakout to the downside.
Or it could be a rising Wedge, where the breakout can turn up and go above the apex.
I'll route for a breakdown, purely based on the 21>7MA - down momentum and RSI<50.
Then potential target will be back to 1.0000.
Which way do you think it's going?
IN this case, it could be a Rising Wedge, which requires a breakout to the downside.
Or it could be a rising Wedge, where the breakout can turn up and go above the apex.
I'll route for a breakdown, purely based on the 21>7MA - down momentum and RSI<50.
Then potential target will be back to 1.0000.
Which way do you think it's going?
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.