Tron has still not broken the consolidation zone on this setup and remains a valid BUY trade. If price dips below the lower horizontal line it will invalidate this setup.
Reasons to consider a BUY trade on a confirmed breakout of the consolidation zone:
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Reasons to consider a BUY trade on a confirmed breakout of the consolidation zone:
- Pattern complete with a defined consolidation zone
- Falling wedge pattern on RSI (divergence appearing)
- Risk to reward meet's criteria and allows multiple profit taking targets
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Order cancelled:
Looks like no trade here. Probably turn into a falling wedge pattern, which means further downside expected till it finds a bottom.