MongoDB short setup on right angle desc. broadening wedge

8 May 2020

Apparently, this is a bullish pattern and breaks up 63% of the time per Bulkowski.

Measured the time and price % change from peak to trough ping pongs in this wedge, price is inherently unstable and is accelerating between ranges.

Wedge resistance is $180.

* 115 days to drop 39%
* 142 days to rise 62% back to wedge resistance
* 26 days to drop 48.5% to wedge support
* 52 days to rise 91% to wedge resistance $180

12 May 2020

Not

As expected, this pattern broke to the upside. Now price is pushing outside upper daily bbands on 2 and 3 std dev for two days in a row.

I expect a pullback to breakout resistance.