Adamkm

Curious, LTC Rising wedge?

BITSTAMP:LTCUSD   Litecoin / Dollar
609 11 6
Looks like my wedge chips.
bought again by 80.3 and hope I will see 84 ! :) What do you think guys?
Balas
nice! still valid?
Balas
So, what is the possible outcome of a rising wedge? :) thank you.
Balas
DDIMM cgavel
@cgavel, trend reversal, falling
Balas
@DDIMM, thats my thought as well. Ive been watching the wedge continue to grow. The rising wedge could turn into a c/h formation.
Balas
cgavel DDIMM
@DDIMM, thanks for that response. Is it also possible, that break out of trend to upside or consolidate sideways? Or what is the most likely outcome based on the highest percentage resolution to a rising wedge? Thanks
Balas
Adamkm cgavel
@cgavel, Normally rising wedges fall downwards out of the wedge to a lower price. If you're doing stop loss, you can keep moving the stop loss up under the wedge. Careful it doesn't trigger to early with odd candle wicks otherwise you'll kick yourself, just keep a nice moving stop loss going up the trend line. This minute its on $80, so a nice stop loss would be between $77 and $78. For me, $77.7 would be good.
Balas
cgavel Adamkm
@Adamkm, ok, good information for my mental notebook. Thank You, good Trading :)
Balas
DDIMM cgavel
@cgavel, as soon as i know, rising wedge is always bearish. But it's a probabilities game, you know.
Balas
cgavel DDIMM
@DDIMM, Thank You! :) any knowledge is helpful.
Balas
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