A long position would be initiated if the price could break the falling wedge pattern to the upside.
A short position would be considered if the price fails to break above the bearish channel's lower boundary and creates a lower low.
The trading scenario with the line arrow has a higher possibility of occurring.
Confirmations for the buying scenario:
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A short position would be considered if the price fails to break above the bearish channel's lower boundary and creates a lower low.
The trading scenario with the line arrow has a higher possibility of occurring.
Confirmations for the buying scenario:
If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Trade closed: target reached
Price has reached its bearish target.Long setup is still valid and we could look for a buying opportunities when price cross the buy setup line.
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Related publications
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.