The price has formed a triangle pattern (descending). We see the previous trend on the chart + trend lines intersect, while the support line is parallel to the coordinate grid + the price has already made more than 5 touches of the trend lines. It is now at the very "tip" of the triangle and is ready to leave the pattern. We can expect the price to break through the resistance at 1.532, fix on the line and rise to the price level at 1.544. Ideally, the price should rise by the volume of the previous trend.
SL - 1.523.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
SL - 1.523.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
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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.