Congestion phase leading to bullish trend
Updated
As we can see the ascending triangle pattern lead to a volume contraction, which pretty much indicates accumulation and buying pressure.
With more or less equal highs and higher high lows, we'll be witnessing an upward breakout, for sure.
TP: 0.17
SL: 0.134
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With more or less equal highs and higher high lows, we'll be witnessing an upward breakout, for sure.
TP: 0.17
SL: 0.134
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Note
Update: Previously ascending triangle pattern shifted to symmetrical shape, leading to indecision in the direction of the market.
We may see either reversal or continuation chart pattern after breakout. Although looks more bullish than bearish to me.
Here's my advice: entry point for long position is around 0.143-0.145. However if we witness a downside breakout at around 0.134-0.135... I'd wait until the bearish reversal trend ceases.
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