Question about Chart Posted (3)

[ChrisMMM]

First of all, I'd like that thank everyone who has helped me with chart 1 and 2. I'm sure that this could be annoying, but I find this very helpful and I sincerely appreciate it.

I see in this one the wedge, and you expect it to go breakout up, which it does. However it ends up selling off and passing through a trend line and it finds support. Do you go long here (at the currency position)?

 

[nkhoi]

click reply tab of the same thread to continue posting in the same thread so that others can follow and reply in the same thread until its conlusion. Every time there is new post it will float to the top for all to see, if you don't see the thread just look into the forum.

you have 30m to modify/delete your post except you can not delete the very first post.

 

[nazzdack]

The yellow-downtrend-line is incorrectly drawn. It should be drawn from the prior price peak. The wedge you're referring to would be within the downtrend channel with the breakout you mentioned meeting resistance at the upper edge of the downchannel. You would expect the market to trade down to the lower edge of the channel, farther away than your expected target based on that horizontal trendline.