Price action and chart pattern trading setup
> A possible 2-wave leading diagonal pattern ending at 0.786 retracement zone
> Entry @ downtrend breakout with reversal pattern - watch for double bottom / inverse head & shoulders / triangle wave candlestick consolidation
> Target @ 0.786-1.0 retracement to previous 1-wave + 10 - 12%
> Stoploss @ the lowest position -4-5%
> Risk reward ratio: 2.5:1
Always trade with affordable risk and respect your stoploss
> A possible 2-wave leading diagonal pattern ending at 0.786 retracement zone
> Entry @ downtrend breakout with reversal pattern - watch for double bottom / inverse head & shoulders / triangle wave candlestick consolidation
> Target @ 0.786-1.0 retracement to previous 1-wave + 10 - 12%
> Stoploss @ the lowest position -4-5%
> Risk reward ratio: 2.5:1
Always trade with affordable risk and respect your stoploss
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.