Rising wedge at the end of an uptrend is a bearish pattern. Momentum (angle of approach) cannot be sustained.
I expect an overthrow above this wedge via a price gap up on market open sometime very soon. This will be a trap sprung on the bulls in which smart money will liquidate into and late buyers will be caught bag holding and help push the price down as they sell in fear.
Take a look at this monthly chart, would you as buy here? I wouldn't, at the very least I'd stay in cash.
Know why? Because there was a massive opportunity on that bull flag breakout - and if you didn't go long from there, why on earth would you go long now when you just missed an insane R:R opportunity.
I expect an overthrow above this wedge via a price gap up on market open sometime very soon. This will be a trap sprung on the bulls in which smart money will liquidate into and late buyers will be caught bag holding and help push the price down as they sell in fear.
Take a look at this monthly chart, would you as buy here? I wouldn't, at the very least I'd stay in cash.
Know why? Because there was a massive opportunity on that bull flag breakout - and if you didn't go long from there, why on earth would you go long now when you just missed an insane R:R opportunity.