Nova-92 › XAUUSD (Gold (PAXG) / US Dollar) · 15m
Falling Wedge
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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 30, 02:15 PM | Oct 30, 02:15 PM | 0 | 3,905.09 |
| H2 | Oct 30, 03:00 PM | Oct 30, 03:00 PM | 3 | 3,934.27 |
| L3 | Oct 30, 07:45 PM | Oct 30, 07:45 PM | 22 | 3,890.00 |
| H4 | Oct 30, 08:00 PM | Oct 30, 08:00 PM | 23 | 3,905.53 |
| L5 | Oct 30, 08:45 PM | Oct 30, 08:45 PM | 26 | 3,890.60 |
| BRK | Nov 1, 11:00 PM | Nov 1, 11:00 PM | 3,899.78 |
Bar #: candles counted from the pattern's first point. Times are candle open times.
Lines
- ResistanceOct 30, 02:15 PM · 3,938.58 → Nov 1, 11:00 PM · 3,899.78
- SupportOct 30, 02:15 PM · 3,904.84 → Nov 1, 11:00 PM · 3,888.62
This pattern's track record
On the 15m chart
33%
Target reached after breakout
- Breakout rate
- 83%
- Reached half the target
- 52%
- Average time to target
- 8.7 h
- Cases
- 173 resolved cases
All timeframes
42%
Target reached after breakout
- Breakout rate
- 84%
- Reached half the target
- 59%
- Average time to target
- 14 days
- Cases
- 727 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.