Ascending triangle with monthly, weekly, daily, nPoc support levels. Pattern should play out within this week ending Feb 24, 2023.
The ascending triangle is a bullish continuation pattern which signifies the continuation of an uptrend. Ascending triangles can be drawn onto charts by placing a horizontal line along the swing highs – the resistance – and then drawing an ascending trend line along the swing lows – the support.
Source: www.ig.com/en/tradin...needs-to-know-190514
The ascending triangle is a bullish continuation pattern which signifies the continuation of an uptrend. Ascending triangles can be drawn onto charts by placing a horizontal line along the swing highs – the resistance – and then drawing an ascending trend line along the swing lows – the support.
Source: www.ig.com/en/tradin...needs-to-know-190514
Comment:
Everyone in quotes, traded the trend line. nPoc and dailies below the trend. Note 24075-24100 and 23,975. What concerns me is at some point. Not sure when. There are single prints within Value Areas from 19,500. I think they will be sooner or later revisited. Trade with caution and be prepared for heavy selling at some point. Until then, trade the levels. !
Comment:
Being cheeky here. GAME OVER for downside. 14M shorts ByBit, 9 M above that. Retest possible to take out trapped shorts. Playing the levels. Currently market structure is still low and lower lows etc Need to close above weekly at 24300 again or atleast vWap at 24,200. Absolutely possible! Weŕe against vWap now resistance.