Do I see a triangle continuation pattern forming? (in red)
I say speculative view in the title of this Idea because none of the patterns I think I see have completed yet. As a trader, you have a higher probability of trading after validation/confirmation of patterns rather than anticipating their completion. But it's fun to speculate sometimes : )
We could expect price to continue upwards if this turns out to be a Symmetrical or Ascending Triangle pattern.
Because this potential triangle pattern is following a price increase, this could be a Bullish Pennant. If so, the first price target would be the height of the triangle (blue lines), the 2nd price target would be the height/distance of the black lines.
I've placed 4 purple lines indicating where I'd take profits.
I could also see an un-completed Elliott wave (3) forming. I'll follow up in a few weeks to see how price action progresses.
I say speculative view in the title of this Idea because none of the patterns I think I see have completed yet. As a trader, you have a higher probability of trading after validation/confirmation of patterns rather than anticipating their completion. But it's fun to speculate sometimes : )
We could expect price to continue upwards if this turns out to be a Symmetrical or Ascending Triangle pattern.
Because this potential triangle pattern is following a price increase, this could be a Bullish Pennant. If so, the first price target would be the height of the triangle (blue lines), the 2nd price target would be the height/distance of the black lines.
I've placed 4 purple lines indicating where I'd take profits.
I could also see an un-completed Elliott wave (3) forming. I'll follow up in a few weeks to see how price action progresses.
Nota
I shouldn't have attempted to draw a channel on a higher time frame with such little data. Charting is Learning.
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.
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.