CTM in descending triangle and thoughts on a breakout
Descending triangle pattern looks like being established, although I'd like to see three verifications of the pattern rather than the two we have here.
I am considering the following three possibilities going forward...
Option 1: Breakdown within triangle to 0.465 before resuming upward trend.
Option 2: Breakdown out of triangle to 0.395 (top of 'GAP' and 200 day average) before resuming upward trend.
Option 3: Breakdown out of triangle to 0.345 (effectively filling the 'GAP') before resuming upward trend.
I have seen the GAP filling idea in operation before, but can't remember where. It will be interesting to see if that happens here.
I am considering the following three possibilities going forward...
Option 1: Breakdown within triangle to 0.465 before resuming upward trend.
Option 2: Breakdown out of triangle to 0.395 (top of 'GAP' and 200 day average) before resuming upward trend.
Option 3: Breakdown out of triangle to 0.345 (effectively filling the 'GAP') before resuming upward trend.
I have seen the GAP filling idea in operation before, but can't remember where. It will be interesting to see if that happens here.
Nota
Well, looks ike we exited the triangle in a better way. It's pretty much sideways and up now.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.