no., bulls need to satiate some move ahead
that head and shoulders inverted
it needs
on ES to hit 1340 esque
then technicals there would allow antying
up or down
I always have problem of differentiating rising triangle and wedge.
One is bullish but the other is bearish
Any way to tell the difference ? Thanks
Rising triangle has a flat line across several peaks of same/similar height, while the interim lows form a rising line. This is bullish when prices finally break above the horizontal resistance of the prior highs.
Rising wedge has higher highs and higher lows, essentially forming an upward channel. This one is often bearish, esp when broken below the lower channel line.
no., bulls need to satiate some move ahead
that head and shoulders inverted
it needs
on ES to hit 1340 esque
then technicals there would allow antying
up or down
I always have problem of differentiating rising triangle and wedge.
One is bullish but the other is bearish
Any way to tell the difference ? Thanks
Rising triangle has a flat line across several peaks of same/similar height, while the interim lows form a rising line. This is bullish when prices finally break above the horizontal resistance of the prior highs.
Rising wedge has higher highs and higher lows, essentially forming an upward channel. This one is often bearish, esp when broken below the lower channel line.
Thank you!
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
I still have a tiny little ES sitting on breakeven stop loss, no intention to hold over weekend but certainly I don't want to be stopped here. Pray.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
I always have problem of differentiating rising triangle and wedge.
One is bullish but the other is bearish
Any way to tell the difference ? Thanks
Rising triangle has a flat line across several peaks of same/similar height, while the interim lows form a rising line. This is bullish when prices finally break above the horizontal resistance of the prior highs.
Rising wedge has higher highs and higher lows, essentially forming an upward channel. This one is often bearish, esp when broken below the lower channel line.
How about this rising wedge? Note that it appears quite clearly on a 1min. 3LB plot. This is because time compression and LB construction favor abrupt moves which, in turn, enhance resolution...
I always have problem of differentiating rising triangle and wedge.
One is bullish but the other is bearish
Any way to tell the difference ? Thanks
Rising triangle has a flat line across several peaks of same/similar height, while the interim lows form a rising line. This is bullish when prices finally break above the horizontal resistance of the prior highs.
Rising wedge has higher highs and higher lows, essentially forming an upward channel. This one is often bearish, esp when broken below the lower channel line.