$JAM sitting right on the weekly falling wedge floor — classic demand test. The liquidity sweep just cleared weak hands below support, and now we're seeing a bullish reclaim above that same level. This is textbook setup behavior: flush the stops, reclaim structure, then rip.
If this lower boundary holds as support on the weekly, we're looking at a potential macro reversal rally. Wedge breakouts tend to move hard when they finally resolve, especially after a clean liquidity grab. Watch for follow-through above the reclaim zone — that's your confirmation the demand is real and not just a bounce into resistance.
Invalidation is simple: lose the wedge floor again and the setup's dead. But if it holds? This could be the start of a much bigger move.
If this lower boundary holds as support on the weekly, we're looking at a potential macro reversal rally. Wedge breakouts tend to move hard when they finally resolve, especially after a clean liquidity grab. Watch for follow-through above the reclaim zone — that's your confirmation the demand is real and not just a bounce into resistance.
Invalidation is simple: lose the wedge floor again and the setup's dead. But if it holds? This could be the start of a much bigger move.
