Definition: A falling wedge usually forms during a pullback in an uptrend. It is considered a bullish reversal or continuation pattern.
Confirmation: Price breaks above the upper trendline of the wedge with volume (or momentum indicators like MACD/RSI support it).
Chart Analysis:
White lines show a falling wedge.
Breakout has occurred to the upside.
RSI is moving up and MACD is showing bullish momentum.
šÆ Target Calculation:
Falling wedge target is typically estimated by measuring the height of the wedge (from top to bottom at the widest part) and adding it to the breakout point.
š Estimation from Chart:
Top of Wedge ā $3.73 Trillion
Bottom of Wedge ā $2.53 Trillion
Height = 3.73T - 2.53T = 1.2 Trillion
Breakout Level ā $3.0T (approx)
šÆ Target = Breakout point + Height
= 3.0T + 1.2T = 4.2Ā TrillionĀ USD