1. Broke above descending pennant and confirmed support.
2. Created a symmetrical triangle. Entering on support.
3. Predict that price will break above the symmetrical triangle- and use parallel channel as next resistance.
Theory: Price action goes from bearish, to neutral to bullish.
If price ends up doing this and breaks above parallel channel, even better!
Otherwise stop loss below symmetrical triangle.
2. Created a symmetrical triangle. Entering on support.
3. Predict that price will break above the symmetrical triangle- and use parallel channel as next resistance.
Theory: Price action goes from bearish, to neutral to bullish.
If price ends up doing this and breaks above parallel channel, even better!
Otherwise stop loss below symmetrical triangle.
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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.