Alikze »» PENDLE | Triangle corner pattern
Updated
🔍 Technical analysis: Triangle corner pattern
- According to the analysis presented in the previous post, after the inability to break the supply zone, it faced a correction and fell to the green box, which is currently a resistance to continue the path.
- Currently, a corner pattern is formed in the daily time frame.
- But now it can have two paths.
💎 First scenario: after a dynamic trigger retest, this failure can occur from the bottom and continue until the origin of the movement of the 3.90 correction range.
💎 The second or alternative scenario: if it can break the supply zone with buying pressure and retest the upper supply zone after hitting the dynamic trigger with a pullback to the supply zone.
🛑 Resistance range: 5.07 - 5.46
🟩 Support range: 3.90
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Alikze.
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- According to the analysis presented in the previous post, after the inability to break the supply zone, it faced a correction and fell to the green box, which is currently a resistance to continue the path.
- Currently, a corner pattern is formed in the daily time frame.
- But now it can have two paths.
💎 First scenario: after a dynamic trigger retest, this failure can occur from the bottom and continue until the origin of the movement of the 3.90 correction range.
💎 The second or alternative scenario: if it can break the supply zone with buying pressure and retest the upper supply zone after hitting the dynamic trigger with a pullback to the supply zone.
🛑 Resistance range: 5.07 - 5.46
🟩 Support range: 3.90
»»»«««»»»«««»»»«««
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support.
Best Regards,❤️
Alikze.
»»»«««»»»«««»»»«««
Note
According to the movement, more than 23 % of the supply zone has been modified according to the movement.Currently, with the defeat of the 3.90 area, it can also touch the next 3.13 target.
Note
After the break of 3.90, it moved towards the next target of 3.13 range, which has corrected more than 38% so far.
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