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TagsAre there any historical examples of successful trades based on the falling wedge pattern in cryptocurrency trading?
Kabeara SamoyedsDec 25, 2021 · 3 years ago1 answersCan you provide any examples of trades in the cryptocurrency market that have been successful using the falling wedge pattern? I'm interested in knowing if there have been any historical instances where traders have made profitable trades based on this pattern.
1 answers
- Certainly! The falling wedge pattern has been a popular choice among cryptocurrency traders, and there have been instances of successful trades based on this pattern. One example is the ADA/USDT pair on Binance. Traders identified a falling wedge pattern forming on the daily chart in November 2020. They entered a long position when the price broke out of the upper trendline and managed to capture a substantial upward move in the following weeks. However, it's important to approach trading with caution and not solely rely on patterns. It's crucial to consider other technical indicators, market conditions, and risk management strategies for successful trading.Dec 25, 2021 · 3 years ago
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