The PENDLEUSD chart shows a descending triangle breakout on the 30-minute timeframe. Key levels to watch:
Entry Point: Near the breakout zone, confirming bullish momentum.
Stop Loss: Set below the triangle support at 5.7452 for risk management.
Take Profit: Targeting 6.3628, aligning with the next resistance level.
This setup features a strong risk-to-reward ratio, ideal for capitalizing on a potential trend reversal. Monitor closely for confirmation of upward movement.
Entry Point: Near the breakout zone, confirming bullish momentum.
Stop Loss: Set below the triangle support at 5.7452 for risk management.
Take Profit: Targeting 6.3628, aligning with the next resistance level.
This setup features a strong risk-to-reward ratio, ideal for capitalizing on a potential trend reversal. Monitor closely for confirmation of upward movement.
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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.