Just an informational chart chat on what I find interesting about the wedge pattern and its apex and continuing trend lines.
This week NZDUSD opened with a continued push higher followed by consolidation in a symmetrical wedge pattern and the again broke out in continuation to the upside.
What I find interesting is the action at the apex of the consolidation wedge and its extended trend lines.
The apex often signals the endpoint or exhaustion of the extended move as in this example.
Then, as we follow the wedge trendlines further, the price action in this example tends to balance itself along the rising trendline like a magnet first as support then as resistance.
This week NZDUSD opened with a continued push higher followed by consolidation in a symmetrical wedge pattern and the again broke out in continuation to the upside.
What I find interesting is the action at the apex of the consolidation wedge and its extended trend lines.
The apex often signals the endpoint or exhaustion of the extended move as in this example.
Then, as we follow the wedge trendlines further, the price action in this example tends to balance itself along the rising trendline like a magnet first as support then as resistance.
Note
and now the downside trendline from the wedge consolidation comes into play 
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.