At the local levels of the secondary trend, a triangle has formed. The price is squeezed. Coming soon.
It is possible to work in two directions, as many trading floors on the ETH tool allow you to work not only in the long, but also in the short. Depending on where the canvas of the triangle breaks through and what local trend will develop, your work also depends.
Pay attention to the red downtrend line of the main trend, which has been broken and now the price has returned under it. Also, pay attention to the decrease in trading volume with a simultaneous narrowing of volatility and pinching prices into a corner. This means that traders are inspired by the uncertainty of movement and soon there will be a denouement. Do not enter the deal ahead of time. It’s better to earn less, but for sure, than to lose.
Pay attention to very important dates, they are not associated with this particular tool, but the price will respond.
ENTRANCE.
If you are not in a position, then the entrance is only for breakdown or rollback after the breakdown of a triangle.
Stop loss.
Set Stop Loss value with calculation of your trading strategy and money management. It is important not the Stop Loss value, but the entry point.
TARGET.
All the goals, depending on where the triangle breaks out, depicted on the graph.