QRLUSD: Upward
Updated
Let's see how this plays out in the next couple hours.
QRLUSD is on the downtrend. The descending triangle, as seen on the chart, gives us a bearish signal, suggesting that the price will trend downward upon completion of the pattern. The descending triangle is constructed with a flat support line @ $1.07 and a downward-sloping resistance line (See the descending red line).
One should note that in certain cases, the opposite situation could happen where a upward trendline precedes the descending triangle.
QRLUSD is on the downtrend. The descending triangle, as seen on the chart, gives us a bearish signal, suggesting that the price will trend downward upon completion of the pattern. The descending triangle is constructed with a flat support line @ $1.07 and a downward-sloping resistance line (See the descending red line). One should note that in certain cases, the opposite situation could happen where a upward trendline precedes the descending triangle.
Note
Sorry! I can't edit the title of the idea. I meant QRLUSD: Downward, not "QRLUSD: Upward"
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.