As Bulkowski stated - The problem with those triangles is, after breakout, the price tends to reverse and move to the opposite direction, in 60% of all cases.
It likes to pierce just through the apex of the broken triangle.
You can watch this phenomenon, on the lower as on the higher timeframes. And that is exactly what iam speculating on, right now.
I published the idea one week ago, but is had been hidden by TV, because of violation of the board rules - I could not find, what i did wrong, so i publish again, ad the plan is still in the cards, today.
Cheers and good luck, trading to all of you!
It likes to pierce just through the apex of the broken triangle.
You can watch this phenomenon, on the lower as on the higher timeframes. And that is exactly what iam speculating on, right now.
I published the idea one week ago, but is had been hidden by TV, because of violation of the board rules - I could not find, what i did wrong, so i publish again, ad the plan is still in the cards, today.
Cheers and good luck, trading to all of you!
Trade active
The critical point, lies around the 8 of october, on my chart. Trade active
New weekly candle opened. Today we have October the 7th.Have fun rallying!
Trade closed: target reached
Target 1 {8247} reached. Formed Bullish Engulfing Candlestick pattern on daily close.
Next Target is the 200 MA daily.
Happy Rallying!
October the 8th....
Note
October 9th... Price reached the 200 Daily MA. Good point for a little Profit Taking.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.