This pattern is a textbook reversal pattern. On The 4 hour and daily you can see that price has been moving up and up and should eventually breakout of this pattern.
If you go to the daily it looks the same. You Should Check the Weekly However and You Will SEE A GIANT BEARISH PINBAR CANDLE that is green, but CAN NOT be ignored.
The Weekly Candles on this pair will tell you a story that price was moving up very well but then has nearly lost all of its steam and pushed down!
Wait for a true breakout of the pattern and then enter a sell on the breakout! If you feel unsure about how to trade this pattern based on this idea...
Please Google " Rising Wedge" pattern and how to trade it! Google It Anyway Just so you can get used to seeing the pattern on the charts!
If you go to the daily it looks the same. You Should Check the Weekly However and You Will SEE A GIANT BEARISH PINBAR CANDLE that is green, but CAN NOT be ignored.
The Weekly Candles on this pair will tell you a story that price was moving up very well but then has nearly lost all of its steam and pushed down!
Wait for a true breakout of the pattern and then enter a sell on the breakout! If you feel unsure about how to trade this pattern based on this idea...
Please Google " Rising Wedge" pattern and how to trade it! Google It Anyway Just so you can get used to seeing the pattern on the charts!