โค ๐ RECOMMENDATION: BUY (Speculative)
โค ๐ REASONING:
๐ Chart Pattern: This is a falling wedge โ a classic bullish pattern often seen at the end of a downtrend.
๐ Bullish Signal: A breakout above the upper wedge line ๐ typically signals the start of an **uptrend**.
๐ Volume: Look for increasing volume** on the breakout ๐ โ this confirms momentum.
๐ Trend Structure: The narrowing price range with higher lows = buyers are stepping in gradually ๐ช.
๐ ๏ธ Action Strategy:
๐ข Entry: Buy on breakout above the upper trendline.
๐ก๏ธ Stop-loss: Just below the recent swing low inside the wedge.
๐ฏ Target: Take the height of the wedge and project it upward from the breakout level.
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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.