Indeks Nasdaq CompositeZaktualizowano NASX, rising wedge to 3000 or 6000?
As you would have known by now, the backbone of my analysis is base solely on Channel and Chart pattern.
Using monthly chart, my main objective is to incorporate price action as completes as possible inside a main channel. (Might not be possible sometimes).
Most of the time, it would be pretty noticeable to find some chart patterns within a main channel.
A couple of observations here:
1. Rising wedge is not necessarily BEARISH, this is evidenced by the rising wedge that broke up to the upside in 1995, retest and found support, from then on it carried on to make all time high at channel top (including a false break out)
2. On the other hand, the rising wedge in 2007 broke on the downside, retest, failed and fell hard. This is a classical examples of textbook bearish rising wedge.
3. What is not surprising is the fact that falling wedge is definitely BULLISH, the steeper it is the more bullish it gets.
4. Hence, the crash in 2000-2001 & 2007 have a steepness of > -ve 55 in angle.
5. Price is now extremely near the tip of a rising wedge AGAIN.
Where does it go from here?
a. falls -ve 55 degree to 3000 OR
b. breaks to the upside, going for 6000 (or even 13000 in 5 years time)?
Whatever it is, trade well my friends
P.S. Thomas Bulkowski might has a statistics of bullish/bearish ratio of a rising wedge.
Using monthly chart, my main objective is to incorporate price action as completes as possible inside a main channel. (Might not be possible sometimes).
Most of the time, it would be pretty noticeable to find some chart patterns within a main channel.
A couple of observations here:
1. Rising wedge is not necessarily BEARISH, this is evidenced by the rising wedge that broke up to the upside in 1995, retest and found support, from then on it carried on to make all time high at channel top (including a false break out)
2. On the other hand, the rising wedge in 2007 broke on the downside, retest, failed and fell hard. This is a classical examples of textbook bearish rising wedge.
3. What is not surprising is the fact that falling wedge is definitely BULLISH, the steeper it is the more bullish it gets.
4. Hence, the crash in 2000-2001 & 2007 have a steepness of > -ve 55 in angle.
5. Price is now extremely near the tip of a rising wedge AGAIN.
Where does it go from here?
a. falls -ve 55 degree to 3000 OR
b. breaks to the upside, going for 6000 (or even 13000 in 5 years time)?
Whatever it is, trade well my friends
P.S. Thomas Bulkowski might has a statistics of bullish/bearish ratio of a rising wedge.
Uwaga
Uwaga
64 points shy from my 6000 prediction for UPside>.<
Uwaga
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Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.