Key Points:
✅ Resistance:
The resistance area is being tested multiple times, but there's no confirmed breakout yet.
✅ Support:
The support area is holding the price for now, with buyers stepping in every time the price drops near it.
✅ Triangle:
Price is consolidating inside a symmetrical triangle, which usually precedes a breakout — but the direction is still uncertain.
✅ Risk:
Trading before a confirmed breakout is risky, as fakeouts (false breakouts) can trap traders. So it’s better to wait for a clear direction.
💡 Trade Setup:
🕒 Avoid entering trades until there's a confirmed breakout.
📉 If the candle closes below the support line with confirmation, it could be a sell signal.
📈 If the candle closes above the resistance line with confirmation, it could be a buy signal.
⏳ Until then, be patient and let the market decide the direction.
✅ Resistance:
The resistance area is being tested multiple times, but there's no confirmed breakout yet.
✅ Support:
The support area is holding the price for now, with buyers stepping in every time the price drops near it.
✅ Triangle:
Price is consolidating inside a symmetrical triangle, which usually precedes a breakout — but the direction is still uncertain.
✅ Risk:
Trading before a confirmed breakout is risky, as fakeouts (false breakouts) can trap traders. So it’s better to wait for a clear direction.
💡 Trade Setup:
🕒 Avoid entering trades until there's a confirmed breakout.
📉 If the candle closes below the support line with confirmation, it could be a sell signal.
📈 If the candle closes above the resistance line with confirmation, it could be a buy signal.
⏳ Until then, be patient and let the market decide the direction.
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.
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.