Cygnus-13 › EURUSD (Euro / US Dollar) · 4h
Falling Wedge
Drag to rotate, scroll to zoom.
Draw it on TradingView
No bar counting. Copy the Pine Script and paste it into TradingView; the pattern, breakout, target and invalidation lines are drawn on exactly these candles.
- 1.Copy the script and open the chart on TradingView.
- 2.Open the Pine Editor at the bottom, clear it and paste.
- 3.Click "Add to chart"; the drawings appear.
Swing points
| Point | Candle open (UTC) | UTC | Bar # | Price |
|---|---|---|---|---|
| L1 | Oct 23, 08:00 AM | Oct 23, 08:00 AM | 0 | 1.11856 |
| H2 | Oct 25, 08:00 PM | Oct 25, 08:00 PM | 15 | 1.12308 |
| L3 | Oct 28, 04:00 AM | Oct 28, 04:00 AM | 29 | 1.11127 |
| H4 | Oct 28, 04:00 PM | Oct 28, 04:00 PM | 32 | 1.11710 |
| L5 | Oct 29, 12:00 PM | Oct 29, 12:00 PM | 37 | 1.11068 |
| BRK | Oct 29, 04:00 PM | Oct 29, 04:00 PM | 1.11499 |
Bar #: candles counted from the pattern's first point. Times are candle open times.
Lines
- ResistanceOct 23, 08:00 AM · 1.12836 → Oct 29, 04:00 PM · 1.11499
- SupportOct 23, 08:00 AM · 1.11842 → Oct 29, 04:00 PM · 1.10993
This pattern's track record
On the 4h chart
48%
Target reached after breakout
- Breakout rate
- 82%
- Reached half the target
- 62%
- Average time to target
- 9.3 days
- Cases
- 187 resolved cases
All timeframes
41%
Target reached after breakout
- Breakout rate
- 84%
- Reached half the target
- 59%
- Average time to target
- 14.2 days
- Cases
- 720 resolved cases
What is this pattern?
Highs and lows both fall, but highs fall faster so the channel narrows. A close above the upper line usually targets the area where the wedge began.
A close below the last low invalidates the pattern.
This is not investment advice. Patterns describe probabilities; the same pattern can resolve differently. Levels use classic technical-analysis measuring rules.