The Ascending Triangle is continuation pattern. Which forms usually during an uptrend.
In this scenario we have to be careful as we watch at the MACD indicator it shows to us that it has ascended pretty high (same with RSI), which means the possibility to it retrace is way too high. That's why I consider this is risky trade.
Confirmation for further uptrend movement is that when the price breaks the resistance level of this pattern.
If the price breaks support level of the Ascending Triangle we should test support around 5492 level. If the price does not hold we will see further movement downwards till 5022 level and then 4814.6 level.
Trading information:
Buy: Around 5800
Partial profit: 6270
Long term profit: 6400 - 6800
Stop-loss: 5520
Note: this is risky trade and you should be looking for new buy opportunities from the lower points.
Be careful while trading!
I do appreciate constructive criticism and feedback!
Yarr!
In this scenario we have to be careful as we watch at the MACD indicator it shows to us that it has ascended pretty high (same with RSI), which means the possibility to it retrace is way too high. That's why I consider this is risky trade.
Confirmation for further uptrend movement is that when the price breaks the resistance level of this pattern.
If the price breaks support level of the Ascending Triangle we should test support around 5492 level. If the price does not hold we will see further movement downwards till 5022 level and then 4814.6 level.
Trading information:
Buy: Around 5800
Partial profit: 6270
Long term profit: 6400 - 6800
Stop-loss: 5520
Note: this is risky trade and you should be looking for new buy opportunities from the lower points.
Be careful while trading!
I do appreciate constructive criticism and feedback!
Yarr!
تم فتح الصفقة:
Broke downwards. We have to wait and see if the support holds
أغلقت الصفقة: تم الوصول للهدف
