See Notes. This is whats called a "C" clamp formation. When you have a wide distance between MAs, price tends to reverse or atleast make the MAs meet again. MACD showing strength.
Note
I adjusted the trendline and the horizontal. Ascending triangle pattern noted.Note
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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.