Defining as the majority of traders the las pattern as a descendant triangle, is typical the pullback to the neckline after breaking it.
If you see 233EMA on 12Hchart in the past, has been a strong accurate indicator of S/R. Is beautiful how now there's a confluence:
- Support (now resistance) of the descendant triangle
- 233EMA acting as a resistance.
- Fibo 0.5 area from last high to this low.
There's a good opportunity anticipating PA. Usually is going sideways before trying 233EMA as a resistance, drawing the perfect pullback to the triangle.
If you see 233EMA on 12Hchart in the past, has been a strong accurate indicator of S/R. Is beautiful how now there's a confluence:
- Support (now resistance) of the descendant triangle
- 233EMA acting as a resistance.
- Fibo 0.5 area from last high to this low.
There's a good opportunity anticipating PA. Usually is going sideways before trying 233EMA as a resistance, drawing the perfect pullback to the triangle.
Note
PULLBACK HAPPENING
Trade active
0.5-0.618 should be the area of interest after a new bounce happening soon or later.
Note
12H 233EMA is now at 9200. First part of Blue line has happened (retracement) deeper than expected. Trend is bearish but EMA should be tested sooner or later.
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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.