We have a nice triangle pattern in development and good opportunity to trade it.
My favour view is will have a contnutaion of trend and breakout to up side.
Point E of last wave can reach lower trendline of triangle and than break or reverse for impulsive up move. However last wave might be short and can reach levelof green dot marked on chart and reverse from there. Watch price action closely on lower timeframeas for clues.
Keep in mind this is first draw and pattern might need to be redraw as structure unfolds piece by piece.
Good luck
My favour view is will have a contnutaion of trend and breakout to up side.
Point E of last wave can reach lower trendline of triangle and than break or reverse for impulsive up move. However last wave might be short and can reach levelof green dot marked on chart and reverse from there. Watch price action closely on lower timeframeas for clues.
Keep in mind this is first draw and pattern might need to be redraw as structure unfolds piece by piece.
Good luck
Comment:
Comment:
Comment:
Very nice up move.
Comment:
Comment:
Be aware of this possibility.
I have moved SL to break even.
You can take profit now or move SL to break even and wait.
Hourly trendline has been broken.
I have moved SL to break even.
You can take profit now or move SL to break even and wait.
Hourly trendline has been broken.
Comment:
Comment:
Clear breakout.
Looks like we have barrier triangle therefore target should be near 2,9500
Looks like we have barrier triangle therefore target should be near 2,9500
Trade closed: target reached
Comment:
I have closed my postion as initiall target has been reached.
Be aware there is possibility for reversal as below.
Be aware there is possibility for reversal as below.
Comment:
