Use Geometry in your favour
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We Know that triangles, wedges and rectangles are the most common price patterns. We learned how to measure the height, diameter and angles at school but you might also asked yourself sometimes When Are We Going to Use This in Real Life?
well here; :) The following is an example of a wedge that is being printed currently by the DAX. I used geometry and angle measurement tools to draw the lines of the rising wedge, then finding out the angles accordingly. this in turns gives a clear picture where price is expected to touch next and/ or breakout. I hope this help you all. Good Luck! Please note that is wedge most probably gonna breakout to the downside, HOWEVER, after breaking out and touching the support line at 140480, I expect price to turn north heading to all time high resistance before a serious crash to the downside.
well here; :) The following is an example of a wedge that is being printed currently by the DAX. I used geometry and angle measurement tools to draw the lines of the rising wedge, then finding out the angles accordingly. this in turns gives a clear picture where price is expected to touch next and/ or breakout. I hope this help you all. Good Luck! Please note that is wedge most probably gonna breakout to the downside, HOWEVER, after breaking out and touching the support line at 140480, I expect price to turn north heading to all time high resistance before a serious crash to the downside.
ノート
oooops! all measures and lines all messed up suddenly :S
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