Is this giong to be the pattern in which the price will continue to oscillate for the upcoming months? – Definitely one to keep an eye on!
What Is a in the context of trading?:
“A is a price pattern marked by converging on a price chart. The two are drawn to connect the respective highs and lows of a price series over the course of 10 to 50 periods. The lines show that the highs and the lows are either rising or falling and differing rates, giving the appearance of a as the lines approach a convergence. Wedge-shaped are considered useful indicators of a potential reversal in price action by technical analysts.
Key Takeaways for Falling wedges:
3. These patterns have an unusually good track record for forecasting price reversals.”
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