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**Ascending wedge arrow should be "descending wedge"
TECHNICAL
Reason 1:
Pattern: Ascending wedge
1. Broken out of ascending wedge sideways
2. Retested ascending wedge upper descending trend line on 15/06/2018 during selloff
Reason 2:
-RSI oversold at similar levels to in the past
Reason 3:
-At lower limit of daily bollinger band
FUNDAMENTAL
-US trade war escalating with china, canada, france
Still fairly new to trading, appreciate any comments, tips etc. Just an idea. I am not advising to place a trade
**Ascending wedge arrow should be "descending wedge"
TECHNICAL
Reason 1:
Pattern: Ascending wedge
1. Broken out of ascending wedge sideways
2. Retested ascending wedge upper descending trend line on 15/06/2018 during selloff
Reason 2:
-RSI oversold at similar levels to in the past
Reason 3:
-At lower limit of daily bollinger band
FUNDAMENTAL
-US trade war escalating with china, canada, france
Still fairly new to trading, appreciate any comments, tips etc. Just an idea. I am not advising to place a trade
Note
Looking like may be forming an ascending triangle reversal pattern on the 30 minute timeframe with resistance @ 1282.00 (Physchological level?)Setting a buy stop order 10 pips above @ 1282.10, SL @ 1276.9, TP to be updated, as if there is a breakout to the upside, move expected to be very bullish over the long term from personal research.
Note
Doji candle also formed within the selloff, at the resistance level of the possible ascending triangle reversalNote
**on the 30 minute chart
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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.