The formation of the ascending triangle pattern, along with the current price being at the lower trendline, and the stochastic divergence, as well as the price action indicating losing momentum marked by a doji candle, increases our optimism to go long.
The formation of 2 higher lows indicates a potential trend reversal. In the next 3 candles, we should see confirmation.
SL: 1.60411 (30 pips)
TP: 1.61611 (+3)
The formation of 2 higher lows indicates a potential trend reversal. In the next 3 candles, we should see confirmation.
SL: 1.60411 (30 pips)
TP: 1.61611 (+3)
Note
Trend reversal formation
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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.