Broadening wedge pattern: Will the market break out?
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ZnWC
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joined discussion · Jan 18, 2023 16:33
Tesla share price reversal - Dragon pattern?
Based on your trading experiences, is profiting from this pattern possible? Will the market head north or south? TheDragon pattern(D) is a simple pattern of technical analysis that refers to reversal price models and its occurrence predicts the future change in the market trend. The D pattern consists of five elements, namely: a head, two feet, a hump between the feet and a tail. With that, one should be able to draw a trend line from the pattern’s head to the highest point of its hump. It's similar to adouble bottomreversal pattern (W pattern). You can take profit and set stop loss at the various point level.
The first chart was taken from Tesla share price from Dec til today which shows a similar Dragon pattern . Is Tesla share price heading for a reversal?
Bottom line
Trendlines will vary depending on what part of the price bar is used to "connect the dots." Chart is a good tool to predict a trend over a period of time but it takes years of experience to master the skill to use it for profit trading.
Following the introduction of China's groundbreaking DeepSeek technology, Wall Street giants have revised their investment outlooks for the Chinese market.
RIPPER : It is in a reversal