The drops might be more calculated than we think (Falling wedge)
Hi Ladies and Gents,
There have been some big drops these past few days and there needs to be a breather soon. Luckily I managed to identify a falling wedge pattern for myself so that I don't scream doom and gloom so soon. So I'll be waiting for a break of the upper resistance before taking a little long for a while until the right shoulder forms on my previous idea.
Just a little update on my previous Head and Shoulders idea, the shape of the neckline is now slanted so I'll just be taking a retracement from the top of the head to the bottom now and make sure that the price doesn't cross the 0.5 retracement for the H&S to still be valid.
Cheers folk!
There have been some big drops these past few days and there needs to be a breather soon. Luckily I managed to identify a falling wedge pattern for myself so that I don't scream doom and gloom so soon. So I'll be waiting for a break of the upper resistance before taking a little long for a while until the right shoulder forms on my previous idea.
Just a little update on my previous Head and Shoulders idea, the shape of the neckline is now slanted so I'll just be taking a retracement from the top of the head to the bottom now and make sure that the price doesn't cross the 0.5 retracement for the H&S to still be valid.
Cheers folk!
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