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
Entry at right tray completion, any confirmation to uptrend?
What signals/confluences to look for confirming uptrend?
SungPLM
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thanks for that info but that sound like head&shoulders literaly :? never heared of it lol
johnmad
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Thank you for Sharing
Livermore
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So it's just like H&S reverse?
LeGrice
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Hello
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.
DinhVanThach
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Thank you very much. I realized this pattern already but i don't make it principle
tntsunrise
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nice one
GingerBear
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Thanks for sharing but I'm a little bit stuck here. When should we expect the right tray to be formed? It is easy to locate similar pattern of left tray + base.
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 : )
tntsunrise
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should wait for the price to pull back at the left tray and see price action. the trend line may or may not be retested.
What signals/confluences to look for confirming uptrend?