It looks like the triangle will be penetrated short, giving the opportunity for a short trade. I will put in my trade when the triangle is penetrated and the price action has intersected the bolinger bands.
Comment:
Taking a look at the hourly chart, a nice wedge has formed. It is currently at the top of the wedge with Stochastic and RSI also at the top and I anticipate that prices are going to fall now.
If the hourly wedge makes a new low, then the triangle on the daily chart will also be broken downward.
I'm not sure how to add another chart? Could somebody tell me how please? :)
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If the hourly wedge makes a new low, then the triangle on the daily chart will also be broken downward.
I'm not sure how to add another chart? Could somebody tell me how please? :)