This pair is starting to form a symmetrical triangle, but its hard to guess a direction (for me) yet. I'm not looking at any macro factors, but it appears that we are starting to round out a bottom here, so the possibility of moving higher is what I'm leaning towards.
I like this pattern because it has a longer duration (prevalent on Weekly as well) than trading the smaller time frames. Does this mean the signal is stronger? Who knows, I won't be set in stone on a direction, so I'll be patient and see which way the market wants to move. My attempt is to post these set ups earlier, rather than be the trader that posts after he/she already made the trade.
I like this pattern because it has a longer duration (prevalent on Weekly as well) than trading the smaller time frames. Does this mean the signal is stronger? Who knows, I won't be set in stone on a direction, so I'll be patient and see which way the market wants to move. My attempt is to post these set ups earlier, rather than be the trader that posts after he/she already made the trade.
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.