Hi Traders!
As you can see the market is in an uptrend.
The market broke out of the daily trendline before.
Then it stopped at daily resistance and is now consolidating.
Now there are two opportunities:
1. The market needs support of the 200 MA. That's why it breaks out downwards of the triangle. The SL is above the triangle and the TP is at daily support & SMA 200.
2. The market is actually forming the bullish triangle pattern. It'll break out once of the trendline and than out of the daily resistance. Even though this is a well-known pattern, we decided to take the first one, because there the market only need to break one structure. To fulfill this pattern, the market needs to break two structure.
We recommend to wait for a confirmation.
Thanks and good luck :)!
As you can see the market is in an uptrend.
The market broke out of the daily trendline before.
Then it stopped at daily resistance and is now consolidating.
Now there are two opportunities:
1. The market needs support of the 200 MA. That's why it breaks out downwards of the triangle. The SL is above the triangle and the TP is at daily support & SMA 200.
2. The market is actually forming the bullish triangle pattern. It'll break out once of the trendline and than out of the daily resistance. Even though this is a well-known pattern, we decided to take the first one, because there the market only need to break one structure. To fulfill this pattern, the market needs to break two structure.
We recommend to wait for a confirmation.
Thanks and good luck :)!
Nota
The red box another time in BIG:Dagangan aktif
Hey Followers!The market broke the area, retested it (two green candles) and is moving further now.
Let's see how many pips we can get!
Have a nice day :)
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.