SPOT Short term triangle Breakout
SPOT Short term triangle Breakout - Looking for a bounce at the demand zone and a breakout of the upper triangle trend line on the daily. Price action is above all rising moving averages and recently broke above the 50 and 200 SMA. Pulling back on low selling volume to the 8 and 21 EMA. Hammer candle stick occuring at demand zone/lower trend line which also happens to be a previous resistance level from a previous pivot high (old resistance).
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There are no crystal balls or holy grails. You can only get educated and plan your trades. Then, you trade your plan.
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.