additional comments on SOXS -here's the 60 min chart - the gap
OUT of the wedge this morning is probably a breakaway gap. If so
price should NOT fall back into the wedge, so that gives you an
idea for a stop.
Also and this is important. notice symmetry via the dotted line.
That's the FIRST logical target area.
Next - if a price run up can break symmetry, that would be
important because then odds favor a higher low on the next pullback
- which could allow this falling wedge to morph into an Inverse
H&S
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additional comments on SOXS -here's
It seems like things are moving more towards day trading ...
Posted by matt on 1st of May 2020 at 09:45 am
additional comments on SOXS -here's the 60 min chart - the gap OUT of the wedge this morning is probably a breakaway gap. If so price should NOT fall back into the wedge, so that gives you an idea for a stop.
Also and this is important. notice symmetry via the dotted line. That's the FIRST logical target area.
Next - if a price run up can break symmetry, that would be important because then odds favor a higher low on the next pullback - which could allow this falling wedge to morph into an Inverse H&S