While descending triangles are commonly thought as bearish, it can also break upwards. According to the pattern site, " Look for triangles with upward breakouts near the start of an uptrend".
Pros:
- Based on the HTF context, PAY has been on a sustained downtrend for quite sometime so upward breakout of descending triangle (i.e. as a reversal instead of continuation pattern) is possible.
- Now it's resting on a higher low support.
- Also 1H and 4H bullish divergence on the macd
- Risk:reward seems good.
Cons:
- descending triangles break down 64% of the time.
Pros:
- Based on the HTF context, PAY has been on a sustained downtrend for quite sometime so upward breakout of descending triangle (i.e. as a reversal instead of continuation pattern) is possible.
- Now it's resting on a higher low support.
- Also 1H and 4H bullish divergence on the macd
- Risk:reward seems good.
Cons:
- descending triangles break down 64% of the time.
Dagangan aktif
took a while but trade looking good :) taking partial profits at previous highsDagangan ditutup secara manual
Didn't get as high as the ultimate target for this setup. I closed the position in profit when I started see bearish divs. However, it's still in a short-term uptrend with this higher low formed.
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.