Hello,
1. We had a downtrend then we formed a rising wedge which means previous trend continuation.
2. The RSI divergence forming in the 1H confirms the upcoming downtrend.
3. The breakout drop will be the same as the wedge height in the beginning (and you can see that it matches perfectly that support line).
Tell me what do you think of this idea and what i'm doing wrong.
Thank you.
1. We had a downtrend then we formed a rising wedge which means previous trend continuation.
2. The RSI divergence forming in the 1H confirms the upcoming downtrend.
3. The breakout drop will be the same as the wedge height in the beginning (and you can see that it matches perfectly that support line).
Tell me what do you think of this idea and what i'm doing wrong.
Thank you.