Broadening Descending Wedge

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Potential Broadening Descending Wedge in play on Fantom USD.

4 Hour bullish divergence now showing on the 5th wave at a critical level of support.

٢٠ نوفمبر ٢٠٢١

ملاحظة

Whilst this pattern was setting up there was also an Ascending Triangle pattern emerging on the 15M timeframe providing additional confluence

٧ ديسمبر ٢٠٢١

ملاحظة

So the pattern mapped out in the initial post has not played out. It may have been completely wrong or I may have mapped the waves incorrectly. We now have bullish divergence on the 12 hour chart and a liquidity grab on the 5th wave which is common for Broadening Descending Wedge patterns.