Possible -Simple- Price Reversal
We have the following factors:
WAIT FOR....
+ H4 downtrend (Green Diagonal Line) + Descending triangle breakout (blue triangle). For a more conservative entry.... Breakout + Pullback
+ Good PA confirmation.
OTHERWISE I WOULDN'T ADVICE TAKING THIS TRADE!
If all this requirements are met we could search for possible re-entries. It's a good R&R, uptrend may continue further if you'd like to trail your SL.
All comments are appreciated!
Peace!
- Descending triangle
- Weekly -Pink horizontal line- + Daily Support Zone -Orange Rectangle-
+ Weekly timeframe is still an uptrend - H1 Divergence in OS RSI
WAIT FOR....
+ H4 downtrend (Green Diagonal Line) + Descending triangle breakout (blue triangle). For a more conservative entry.... Breakout + Pullback
+ Good PA confirmation.
OTHERWISE I WOULDN'T ADVICE TAKING THIS TRADE!
If all this requirements are met we could search for possible re-entries. It's a good R&R, uptrend may continue further if you'd like to trail your SL.
All comments are appreciated!
Peace!
Penafian
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