Here, the $DKNG 2 hour chart is forming a falling wedge. This is a very bullish trend so the wedge has a high change of going up once broken.
Blue Arrow: If the candles break the resistance of the falling wedge, enter your position there. (This is also the safest buying point).
White Arrow: If you enter your position at the blue arrow, this will be a great place to put your stop loss to help maximize risk-management.
Blue Arrow: If the candles break the resistance of the falling wedge, enter your position there. (This is also the safest buying point).
White Arrow: If you enter your position at the blue arrow, this will be a great place to put your stop loss to help maximize risk-management.
Comment:
P.S. where I put the blue and white arrow is just an estimate of where I think the chart will break out of the falling wedge.