Possible Ascending Wedge on the 15-Minute

29 Nis 2018

There seems to be broadening wedge on the 15-minute chart. Price movement is contained and is alternating between the two non-parallel trend-lines (white lines). This tends to suggest the end of a rising price trend and the start of a reversal. Good risk/reward ratio. Will short here.

Average Entry Price: $9435
Stop Loss: $9603
Final Target Price: $8884

Risk/Reward Ratio: 3.07

I will also be watching the $9200 level, as there is decent support there. Will update accordingly.