For this exercise we are going to use PLNCZK as an example and allow a live swing to be setup. The banquet is over for bulls in this case after sellers capped the highs on three separate occasions each time driving the price out. Next came the spike down in thin markets, algos on the sell side helping itself to clean the board. But then came this breakdown...
On hourly chart of this exotic pair, we see the last green candle wicks did not manage to pass over a descending trend. This slope has the same magnitude as the slope from the bottom of the candles before the jump of Friday. These two lines form a symmetric triangle where the PA may evolve for a day or two. In case of breakthrough of the upper side of the...
