Market order placed to go long with REV anticipating a continuation symmetrical triangle formation with a nice risk / reward.
If the lower boundary of triangle is broken decisively at a day close the analysis will be falsified.
1. Taking a position here before the next rally with anticipation of a breakout.
2. If the next rally bounces off upper resistance of triangle formation, this gives an opportunity to take profit and wait for bounce confirmation off the lower triangle boundary.
If the lower boundary of triangle is broken decisively at a day close the analysis will be falsified.
1. Taking a position here before the next rally with anticipation of a breakout.
2. If the next rally bounces off upper resistance of triangle formation, this gives an opportunity to take profit and wait for bounce confirmation off the lower triangle boundary.