Reversal pattern: Falling wedge in a downtrend

29 feb 2020

Alternative to falling wedge pattern in other post. Here we can see another clear falling wedge. Id like to see a break above the pattern with incoming volume to stay long. Either way looks like a clear reversal pattern has formed. Price is nicely oversold on the daily and below the 200DMA. As usual I like to enter longs before the breakout once 5min moving averages have crossed to the upside. Watch out for those fakeouts....