The Security is making Higher lows and Lower Lows forming a Falling Wedge, A Falling wedge breakouts at higher level has been more favorable than downside.

Currently the Security  is trading near Fast and Slow EMA . For a breakout the security has to close above/below the falling/rising trendline. After the breakout a position can be entered in the security in the upside/downside direction. For confirming the move the pair has to trade above Fast /Slow EMA.

DI- is trading above DI+ and ADX is trading above DI+/DI- indicating strength in the move.

Falling Wedge

Apr 18 2023