Price has broken trend and currently conducting a pullback which is making a diamond pattern . Applying the rules of this pattern we can see a target area which may return a good risk/ reward
what do you think about it bouncing of resistance under it? since news came out being negative
simtrader19a
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@yaneydiosdadoalcala, that a pattern setup, I play what I see , if breaks the trend line intend shorting to highlighted area, Diamond Patterns work well
yaneydiosdadoalcala
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yeah, your talking about aud works well with trendlines and trendline breaks. im guesing your looking at a head and shoulders patter to.
yaneydiosdadoalcala
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im waiting to see if the h a candles turn red because I use it to identify the trend
simtrader19a
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@yaneydiosdadoalcala, I like things simple, I like to see sellers if intend to go short and if that breaks the trend line good even better back by volume ,