$VELO critical threshold | Either turn or fall

24 באוק׳

The VELO chart has completed a retest after a classic Bearish Rising Wedge breakout.

It's currently heading directly towards the demand zone.

A strong reaction from here could lead to a return to the wedge; otherwise, a major decline could open the door.

8 בנוב׳

עסקה פעילה

VELO demand zone reaction | critical moment 🔃

Velo perfectly reacted from the demand zone after the Rising Wedge breakdown retest.

As long as this reaction holds, a revisit to the wedge area remains likely.

However, losing momentum here could still trigger the larger decline scenario once again.