A rising wedge forms when the price’s movement consolidates between two sloping trend lines collectively displayed as a triangle.
These sloping lines are basically support and resistance levels that move in a converging pattern (the lower line is the support line, while the upper one is the resistance line).
The support and resistance lines both point towards an upwards direction. The support line usually has to be a bit steeper than the resistance one.
The lines are constructed by connecting two or more separate highs and lows.
Bearish cross on the KST.
Bearish cross on the Williams Alligator.
If the lower trendline doesn't hold 20k is likely the next support level.
If the lower trendline does hold 80k is the next higher high in the long-term trend, sell at the upward resistance.
It's hard to consider this an ascending triangle but I've drawn a dark blue line to represent the horizontal resistance, it's moderately crude
Long TNY, that won't ever change, I have some in my tfsa & I am thinking of increasing my long-term position, I am merely seeing how everything shakes out and will trade accordingly. Sleeping MNST.
Any further comment on TNY?