EDUCATIONAL DESCRIPTION:
we have a purple triangle formed by the two important trend line (lime and red). if we look at this chart considering our triangle pattern only, she touched the red line as the bottom line of the triangle. for buyers it could be very nice opportunity to get into the position, with this in mind that we have already a beautiful H4 time frame candle which is very solid and it is a nice confirmation for buyers. BUT WAIT!!!
look at the aqua line as a perfect uptrend. the chart recently broke it. it means there is also good opportunity for sellers who are waiting for pullback and the price melts down.
so what to do in such situation? JUST BE PATIENT.
probabely you've heard about STOP HUNTING (if you don't, you MUST). very important to know that this is a great opportunity to fool traders (Not just for amateurs but for the skilled traders ) too by STOP HUNTERS.
so the best chose is to wait for the price to define her task. If she crossed the aqua line (with a reliable H4 confirmation) we should see an upward move. if gives us a rejection (with a reliable H4 confirmation) we expect she goes down.
we have a purple triangle formed by the two important trend line (lime and red). if we look at this chart considering our triangle pattern only, she touched the red line as the bottom line of the triangle. for buyers it could be very nice opportunity to get into the position, with this in mind that we have already a beautiful H4 time frame candle which is very solid and it is a nice confirmation for buyers. BUT WAIT!!!
look at the aqua line as a perfect uptrend. the chart recently broke it. it means there is also good opportunity for sellers who are waiting for pullback and the price melts down.
so what to do in such situation? JUST BE PATIENT.
probabely you've heard about STOP HUNTING (if you don't, you MUST). very important to know that this is a great opportunity to fool traders (Not just for amateurs but for the skilled traders ) too by STOP HUNTERS.
so the best chose is to wait for the price to define her task. If she crossed the aqua line (with a reliable H4 confirmation) we should see an upward move. if gives us a rejection (with a reliable H4 confirmation) we expect she goes down.
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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.