We see a first Low formed the LEFT TRAY
then followed by a lower low,fromed the BASE
Then Price Rally Up, Break the Left Tray
pulls back to the same level of the Left Tray
Then the Right Tray is completed.
It is a good opportunity to enter after the right tray formed.
SL : Below the Base
Target: 3 TIMES of the Stop Loss Distance
Weechat ID: 32114564
Thank you for your effort.
Sorry for asking a basic question. What s this "libra pattern" about. Is it a inverted Head and Shoulder? And would you consider this reversal-pattern still being active when the third resistence level bridges, or stops before the first one. (as it somehow did in this case) And if so, how far may the price from the third differ from the level oft the first tray so is still is in place
This pair, as other gpb-comodity pairs, seem to gather momentum to the upside (could also be a correction) - so i would be pretty interested in your answer.
From your instruction, price rally up and break the left tray, should we wait every time if price would pull back to same level of left tray, or we should bet on price just go up straight away without touching the level of left tray?
My question came from when a downtrend trendline is drawn from the left of left tray, price rebound from the base would usually go up above the downtrend line and for many times price would rise straight away without forming the right tray. Thanks for your time answering my question : )