So I'm fairly new to graph analysis. This is more of a question, since I cannot post on the comments section. Could this be a bearish wedge forming for one last drop? I know we have broken the downwards channel. Possible bull trap? I'm really interested in others opinion!
Comment away :D
So currently we are consolidating on the 2hr time chart in the yellow trendlines. That is a shorter term trend. The blue lines are the longer term trend we have been trading in. I believe a break out to the top of the yellow lines could also catapult us out of the longer term trend line (blue) as well. That could set us up for some decent gains. If we break...
I made this simple and easy to understand. If we can close above the top blue line then I can see the price moving to the 1.10 area seeing as how that is the next major resistance level. If we continue this upward trend, that's where we will be heading.
If we happen to break this upwards trend, I see us trading sideways for the next couple days. Daily RSI is...
