{4H, $EURSGD}
The general price movement is in an descending-channel after price confirm the Support/Resistance-levels.
{Previous Price Action}
The last price movements been created a Rectangle-pattern where's the price got to move in consolidation-area after break above Resistance-level of Mini-descending-channel.
{Current State}
the volume right now showing no sings of potential breakout from rectangle pattern, because of the long-period of the consolidation the Rectangle-pattern become much stronger when it come to holding price so we may see some fakeouts before the real breakout.
{The Plan}
Is to wait for price to breakout from rectangle-pattern & start making LL/LH in order to trade following general price movements & overall direction of the trend After getting all confirmations.
{Alerts}
Set Alert at (1.51182) level to catch next SHORT movements after breakout & getting all Confirmations.
{Valid Pattern}
Rectangle
{HQ Chart}
i.ibb.co/wckt6tL/1.png
{Original post}
https://stocktwits.com/itsFiras/message/180252073
Follow me at Stocktwits.com for more: @itsFiras
The general price movement is in an descending-channel after price confirm the Support/Resistance-levels.
{Previous Price Action}
The last price movements been created a Rectangle-pattern where's the price got to move in consolidation-area after break above Resistance-level of Mini-descending-channel.
{Current State}
the volume right now showing no sings of potential breakout from rectangle pattern, because of the long-period of the consolidation the Rectangle-pattern become much stronger when it come to holding price so we may see some fakeouts before the real breakout.
{The Plan}
Is to wait for price to breakout from rectangle-pattern & start making LL/LH in order to trade following general price movements & overall direction of the trend After getting all confirmations.
{Alerts}
Set Alert at (1.51182) level to catch next SHORT movements after breakout & getting all Confirmations.
{Valid Pattern}
Rectangle
{HQ Chart}
i.ibb.co/wckt6tL/1.png
{Original post}
https://stocktwits.com/itsFiras/message/180252073
Follow me at Stocktwits.com for more: @itsFiras