Today, we will take a look at Interactive Brokers Group.
a) The main thing we can see on the chart is that the price is getting compressed between an ascending and a descending trendline.
b) Let's take a look at the Weekly Context
c) When a situation like this is happening, it is not a good idea to develop setups if we are inside this compression, at least for traders that look for trends to profit.
d) So, the main idea here is to wait for either a bearish or a bullish breakout before taking action.
e) For both scenarios, the idea is waiting for an ABC pattern or similar structure
f) If that happens, we will confirm both views with the price reaching the green or red horizontal line. above/below "B"
g) Targets are defined on the chart.
The main conclusion here is: Avoid compressions. Wait for the breakout first and for the consecutive correction before developing setups. Thanks for reading!
a) The main thing we can see on the chart is that the price is getting compressed between an ascending and a descending trendline.
b) Let's take a look at the Weekly Context
c) When a situation like this is happening, it is not a good idea to develop setups if we are inside this compression, at least for traders that look for trends to profit.
d) So, the main idea here is to wait for either a bearish or a bullish breakout before taking action.
e) For both scenarios, the idea is waiting for an ABC pattern or similar structure
f) If that happens, we will confirm both views with the price reaching the green or red horizontal line. above/below "B"
g) Targets are defined on the chart.
The main conclusion here is: Avoid compressions. Wait for the breakout first and for the consecutive correction before developing setups. Thanks for reading!
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.