i get this pattern in the picture on EUR/USD
the Qustion in the picture
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Because it’s not a falling wedge. It’s a series of lower highs and lower lows. Don’t force a pattern to be what you want it to be.
Actually that is a bear flag not a falling wedge. They are close but not the same. To see the pattern more clearly look at the daily or weekly chart
what is it then?
kindly can u please post the picture?
i just checked with my pictures portfolio and it is closesset to falling wedge…please post the picture if u think its not wedge but some thing else.
this is a rising wedge am I correct?
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Even if it was a falling wedge sometimes they just don’t work.
Technical analysis isn’t 100% perfect.
50% at best.
You could see that pattern 100 times and probably 50 would fail.
Really? hehe. In stocks they prolly work more.
As Sicnarf and Fartist, sometime FX Patterns just don’t work. You must look for confluence with other signals such as moving avgs, market trend etc. What I believe is currently everything seems to going down with choppy market on daily basis.