This is one of my favorite setups when the markets are contracting.
Currently I have an "ASCENDING TRIANGLE" with a " BEARISH WOLFE WAVE" confluence.
There are pattern formations inside of pattern formations. Depending on your skill, understanding confluence as a trader becomes more and more important.
Note: The "ASCENDING TRIANGLE" was sourced from a book called "Encyclopedia of Chart Patterns" second edition. The "WOLFE WAVE" was sourced from investopedia.com
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Expecting Lower high's and Lower low's
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BoyPlunger91
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Mate you are super bear on this pair, Ascending triangle baby , we going higher. Either way.. in next 3 days we should get a solid break either way
TFrank_1
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@LachlanGorman, Ok thanks for that. I agree i'm just trying to trade while the pairs ranging.
TFrank_1
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@LachlanGorman, Have not placed trade yet. Going to sell the pull back back into the triangle