Falling wedge forming on Stellar Lumens. A falling wedge is a reversal pattern and we should watch closely to see if the price can break through the upper trend line of resistance (red).
If the price breaks through near point B, then we take our Fibonacci retracement between EA (highest to lowest).
If the price breaks through nearer to point D, after another small movement down towards our lower trend line of support, then we take our Fibonacci retracement from point EC (highest to lowest).
In both cases, our entry point would be directly above the upper trend line (red), expecting a breakout upward. Then look for an exit at one of the Fibonacci levels to take profit. A good stop would be just below the lower trend line (green) in case it falls back into the wedge and continues to move downward.
If the price breaks through near point B, then we take our Fibonacci retracement between EA (highest to lowest).
If the price breaks through nearer to point D, after another small movement down towards our lower trend line of support, then we take our Fibonacci retracement from point EC (highest to lowest).
In both cases, our entry point would be directly above the upper trend line (red), expecting a breakout upward. Then look for an exit at one of the Fibonacci levels to take profit. A good stop would be just below the lower trend line (green) in case it falls back into the wedge and continues to move downward.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.