The problem i have here is that i can't determine a target price because we are at all time highs and i can't drawn a downward trendline to determine a target.
I guess the other thing that could happen is we get DD tails from crusader next week and we get a runaway break therefore setting up a new trend?
For those reading this that don't know me, i failed TA101, i'm just trying to learn a few things to go with my TA analysis. Fredwah is trying to help me
"Pay no attention to that man behind the curtain!"
Perdy
... and then there is this:
Rising wedges have a relatively low risk/high reward ratio and, as a result, they are a favorite among professional technical traders. But there are many false patterns or patterns in disguise that may come off as rising wedges. The only way to differentiate a true rising wedge from a false one is by finding price/volume divergences and to make sure that the failure is still under the 50% Fibonacci retrace.
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