Trader's Logbook

MARC‘s price is still going down following the track created by the falling wedge. Still within the channel and may soon break from it. Buy signal on RSI.

The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout.

Caveat!