ERUCAD Contracting & Expanding Triangles Doubles
Observation:
1 - Price action reach 1.403999 shortage zone, allot of buyers bought in this zone because they think the price is cheap.
2 - Consolidation at 50% then resume to reach Surplus at 1.60836
3 - Price action test dynamic support of the contracting triangle
4 - Price action makes new dynamic resistance
5 - Price breakout at 1.4296
6 - Price continues to test new dynamic support
Probability
Price action goes down to test dynamic support of the expanding triangle
1 - Price action reach 1.403999 shortage zone, allot of buyers bought in this zone because they think the price is cheap.
2 - Consolidation at 50% then resume to reach Surplus at 1.60836
3 - Price action test dynamic support of the contracting triangle
4 - Price action makes new dynamic resistance
5 - Price breakout at 1.4296
6 - Price continues to test new dynamic support
Probability
Price action goes down to test dynamic support of the expanding triangle
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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.