Found an Ascending Triangle on the Daily chart for the GBPJPY pair and if you look here closely on the 4H chart, price is hitting the trendline soon! One thing I really love about trading the insides of a pattern, is because they the entry and exits are so predictable!
What influenced my decision:
-Stochastics Divergence (oh, this is a strong one)
-Trendline support (Ascending triangle)
-Weakening price (look at it, price has been declining so fast and recently in about the last 6-7 bars, its been small tiny bars)
Exit at the major resistance at the top! Good luck guys! May the pips be with you!
hi, I also view the Slow Moving, but the weight point is slowly moving down in H4 time frame. What does this slow moving mean?
GenesisCTY
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Hey veritasfx!
If you mean the slowly moving bars that are moving towards the trendline, it basically means that price is slowing down and the market is beginning to become less bearish and less bearish with every bar that comes along.
I think some people call it "corrective structure" or something like that! (: haha I really hope this helps!