SCB | Wave Projection | Pullback Trade @ Bullish Pennant Support
Price action and chart pattern trading:
> An possible ABC correction scenario with bullish pennant pattern or descending triangle
> The price currently SMA20 crossing below SMA50 with MACD crossing down bearish support indicator
> PULLBACK TRADE @ bullish pennant support level at a further breakdown with local doubled top pattern targeting -4.5% downside to fibonanci 0.786 extension of previous A-wave support level.
> Risk Reward Ratio 3:1
Always trade with affordable risk and respect your stoploss!
> An possible ABC correction scenario with bullish pennant pattern or descending triangle
> The price currently SMA20 crossing below SMA50 with MACD crossing down bearish support indicator
> PULLBACK TRADE @ bullish pennant support level at a further breakdown with local doubled top pattern targeting -4.5% downside to fibonanci 0.786 extension of previous A-wave support level.
> Risk Reward Ratio 3:1
Always trade with affordable risk and respect your stoploss!
Trade closed: target reached
Enjoyed the profit, now a possible long entry position -wait for confirmation breakout in smaller timeframe - the price is trading at the ascending triangle support: 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.