Rising Wedge
KUNAL KAMBLE
IDXX·
Jan 30 2023
IDEXX
The Security has formed a proper rising wedge pattern.
Rising Wedge breakout on downside has a higher probability of winning trade.
Currently the security is trading below the EMA.
ADX is rising which is indicating trending market. A breakout on either side with ADX trading above 20 will be an good confirmation to enter.
We are expecting a breakout on the downside . RSI is supporting the move.
A breakout on the upside/downside will be an opportunity to enter long/short in the security.
Trade as per breakout