Morning traders!
4H Chart
Here is a great longterm setup with possibly multiple positions that can be taken here.
Currently we have a "Descending Triangle" with a great entry available at resistance.
I built the "Descending Triangle" on a 4H chart, I also have found confluence with my previouse published "Cypher Pattern" on the D Chart
There are pattern formations inside of pattern formations. Depending on your skill, understanding confluence as a trader becomes more and more important.
Note: This idea was sourced from a book called "Encyclopedia of Chart Patterns" second edition.
4H Chart
Here is a great longterm setup with possibly multiple positions that can be taken here.
Currently we have a "Descending Triangle" with a great entry available at resistance.
I built the "Descending Triangle" on a 4H chart, I also have found confluence with my previouse published "Cypher Pattern" on the D Chart
There are pattern formations inside of pattern formations. Depending on your skill, understanding confluence as a trader becomes more and more important.
Note: This idea was sourced from a book called "Encyclopedia of Chart Patterns" second edition.
Note
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Note
This trade is a great example of waiting for the market to come to me instead of traders who, so to speak "chase the markets"
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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.