B | Wave Projection | TFW Bullish Divergence | Ending Diagonal?Price action and chart pattern - descending triangle with a bullish divergence pattern in weekly timeframe is considered a strong reversal trading signal.
Wave projection: A possible 5 wave of major A-wave correction coming forming an ending diagonal wave targeting 0.5 - 0.618 fibonanci extension of previous 3-wave downtrend.
Entry: Descending triangle breakout / SMA200W zone
Stop: Lower triangle support -12%-15%
Target: 0.382 - 0.5 retracement of current downtrend A-wave +40% - 50%
Risk reward ratio: 3:1
Always trading with affordable risk and respect your stoploss
Good Luck
B.R trade ideas
B | Wave Projection | Downtrend channel breakout Price action and chart pattern trading setup
> ABC Zigzag wave correction with a breakout at wave 4 downtrend channel
> Target downtrend zone at Fibonacci 1.0 extension - 0.45 baht price
> A possible upcoming bullish divergence for wave 5 with ending diagonal pattern
> Wait for retest at the low position?
always trade with affordable risk and respect your stoploss
B | Possible Bullish Wedge Reversal | Pullback EntryPrice action and chart pattern trading
> Downtrend flag parallel channel with bullish wedge reversal pattern
> Entry at pullback position
> Target at upper parallel channel
Indicator:
> RSI and MACD Bullish divergence
Always trading with affordable risk and respect your stop
