Ascending triangle pattern coming to completion.
Bias is bullish.
Two ways to play it -
1) Buy now and hold, hoping it breaks out (best profit potential)
2) Wait for breakout of triangle and then enter position.
Stop if price breaks the triangle to the downside.
Descending scallop is a pattern that can be traded long or short.
The price comes down forming a elongated rounded bottom then has a throwback. The high before the throwback (small dump) is the breakout level upwards.
The lowest point of the rounded bottom is the breakout level downwards.
So first we need to wait and see if there is a throwback - unless we...