GJ on HTF is in a strong bullish trend, however price has began to make a weekly corrective move, this translates to this massive descending triangle on the 4H TF.
Inside of the Triangle we can identify price made a false breakout below the Psychological support of 16 then closed back above forming a potential H/S formation, on the right shoulder there is also a beautiful falling wedge formation, two bullish patterns at a strong level gives us the indication that price wants to move higher and potentially take out stops above the intraday highs. We are first waiting for this 4H candle to close then we will be monitoring PA on the LTF for potential entry confirmations
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.
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.