EURCAD Contracting Triangle inside the Ascending Channel
Updated
Observation:
- Price Action reach the dynamic resistance of a contracting triangle
- Consolidation process followed by a break up
Analysis:
Breaking triangle contraction, price action will either hit dynamic support (if go for short) or hit dynamic resistance (if go for long)
- Price Action reach the dynamic resistance of a contracting triangle
- Consolidation process followed by a break up
Analysis:
Breaking triangle contraction, price action will either hit dynamic support (if go for short) or hit dynamic resistance (if go for long)
Note
we wait until price breaks triangle contraction, then place order for higher prediction rate.Note
Just break the channel,I need to construct another higher slop this time for a new channel
Trade closed: target reached
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