CURRENT CONFIDENCE = 54%
BREAKOUT (ENTRY) PRICE = 69.218000 RUB
TARGET (EXIT) PRICE = 68.792000 RUB
DISTANCE TO TARGET PRICE = 0.33% (22.5 pips)
EMERGED ON Jun 25, 01:00 PM (UTC)
CONFIRMED ON Jun 25, 01:59 PM (UTC)
WITH CONFIDENCE LEVEL = 64%
Tickeron AI shows that the Falling Wedge pattern forms when prices appear to spiral downward, with lower lows (1, 3, 5) and lower highs (2, 4) creating two down-sloping trend lines that intersect to form a triangle. Unlike Descending Triangle patterns, however, both lines need to have a distinct downward slope, with the top line having a steeper decline.
This pattern is commonly associated with directionless markets since the contraction (narrowing) of the market range signals that neither bulls nor bears are in control. However, there is a distinct possibility that market participants will either pour in or sell out, and the price can move up or down with big volumes (leading up to the breakout).
BREAKOUT (ENTRY) PRICE = 69.218000 RUB
TARGET (EXIT) PRICE = 68.792000 RUB
DISTANCE TO TARGET PRICE = 0.33% (22.5 pips)
EMERGED ON Jun 25, 01:00 PM (UTC)
CONFIRMED ON Jun 25, 01:59 PM (UTC)
WITH CONFIDENCE LEVEL = 64%
Tickeron AI shows that the Falling Wedge pattern forms when prices appear to spiral downward, with lower lows (1, 3, 5) and lower highs (2, 4) creating two down-sloping trend lines that intersect to form a triangle. Unlike Descending Triangle patterns, however, both lines need to have a distinct downward slope, with the top line having a steeper decline.
This pattern is commonly associated with directionless markets since the contraction (narrowing) of the market range signals that neither bulls nor bears are in control. However, there is a distinct possibility that market participants will either pour in or sell out, and the price can move up or down with big volumes (leading up to the breakout).
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.
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.