Price hit the major resistance then drop The trend is in ascending channel (Reversal pattern) Price making consolidation at the bottom of trend line This trade is a risky trade. Trade only if the RR ratio is acceptable
Sell the breakout
SL: 113 TP: 108
(Note: Never trade with the money you can't afford to lose)
Good luck.
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wait for the breakout, price still in consolidation at the moment.
Hei mate, can you explain me a few things please ?
"The trend is in a reversal pattern" ? what exactly do you mean ? That we go up or down ?
Breakout = breakup or breakdown ?
I would appreciate a lot- thank you :D
WBGwen
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@Aesthete777, there is a pattern called ascending channel which is a reversal pattern. You can learn that in technical analysis book. We sell the breakout of minor trend line as a confirmation that the price lose its momentum and possible to start falling in the direction of the trend.