Hi mate,Honestly, I've got no idea about which wedges are which...

Hi mate,

Honestly, I've got no idea about which wedges are which - like candlestick patterns I never use them. For me it's all about volume, momentum and S&R levels.

My lower bound is a diagonal similar to yours being the weekly e21 but my upper bound is a horizontal at 0.120 rather than a down sloping diagonal. I had it at 0.115 for months based on the daily price action, but it appears that 12 could be more accurate when looking at the weekly. I'm watching both levels as a resistance zone. If the bull pressure that I think is present actually is, then my suspicion is that following the breakout it won't matter - we will probably be heading for 22 quite smartly.

We've been range bound for too long, whenever it happens it's going to be an exciting breakout, especially if combined with positive news. I'm really surprised we are still in the range. This week should be more interesting, been a slow fortnight for IMU, but it looks like we'll move up again from support here and set task on that upper resistance zone again. Once 12 falls (hopefully with a confirmation by either a bounce or large volume) we may take a breather/retrace around 0.150 ( for minutes or weeks? - time is always the unknowable variable) and then onward to somewhere around 22 for our first D1 target. There's a few resistance areas en'route but nothing as substantial as what we've been dealing with here.

Probably better on the chart thread