Trading this pattern is easy:
1) wait for the price to reach the triangle support, if it touches or closes candles below the support but within the cloud it's ok;
2) check 15min chart, if there's an uptrend on support enter the trade. To be more safe wait for a bounce back that will take candles inside the triangle;
3) if price can't break out the triangle exit the trade with +20%, if price breaks out you can aim for the target
as it works as support the cloud is a resistance as well so if price breaks out but is still inside the cloud it's not guardanteed it'll go over it. At 4h timeframe there's bullish DIV on MFI
1) wait for the price to reach the triangle support, if it touches or closes candles below the support but within the cloud it's ok;
2) check 15min chart, if there's an uptrend on support enter the trade. To be more safe wait for a bounce back that will take candles inside the triangle;
3) if price can't break out the triangle exit the trade with +20%, if price breaks out you can aim for the target
as it works as support the cloud is a resistance as well so if price breaks out but is still inside the cloud it's not guardanteed it'll go over it. At 4h timeframe there's bullish DIV on MFI
I do TA because I like and it seems at least 70% of my calls usually turn out to be true. If you wanna support me please donate some tradingview coin or check "about me"
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
I do TA because I like and it seems at least 70% of my calls usually turn out to be true. If you wanna support me please donate some tradingview coin or check "about me"
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.