Descending triangle breakout
Updated
looking for a direction from this triangle with a bias on the bull side for a completion of wave 2
triangles typically occur in wave 2 or wave 4; however you can choose not to trade until confirmation of a breakout or breakdown occurs, if we breakout to the upside expect bullish momentum for a wave 3 that could retest ATH
triangles typically occur in wave 2 or wave 4; however you can choose not to trade until confirmation of a breakout or breakdown occurs, if we breakout to the upside expect bullish momentum for a wave 3 that could retest ATH
Trade closed manually
Trade closed @ 37529. Safe trade here, will look for another opportunity when there is clarity.Note
I have an alternate wave count which puts this level as a potential C wave, implying a final C wave that would break the low of 30k. Instead of risking profits, I can wait for this wave cycle to complete higher near the 40k-41k area and then re-enter during an ABC pullback if the pattern is created.
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