I bought this trend continuation setup at the break of the 0.25 line.
It's an anticipation of the AB=CD harmonic pattern.
Stop goes to the 0 red line, target to the 1 line.
3:1 Risk reward. Potential profit 20%
If you like our trade idea, please hit the like bottom, also comment down below what you like or what you don't like as well.
Thanks and good...
Good evening !
A symmetrical triangle is formed in a downtrend, this often occurs as consolidation followed by more movement in the same direction.
Keep an eye on BTC because this will dictate the direction of the break.
Would you like to support me? All it takes is a Like :)
PERL is on a potential descending triangle coming from a strong downtrend.
To trade, this type of pattern is to wait for the break trend-line support or resistance.
Waiting for extra confirmation and letting the market tell us what to do is the best way how to enter this type of situation.
If the pattern breaks to the upside, we go long position and...
The price is about the brake up the base line of the trend, please notice that the reward this time if huge, so wait until the price has confirmed the trend above the the base line and follow the MACD if can apply Stochastic RSI that would be an amazing tool as well