On the 6h MA we can see the triangle breakout, and then touchdown on the top as is common behavior.
We pierced the lower bollinger band so on the 6H we are ok for a bounce, but nothing is guaranteed.
Please see the image below for the entire triange on the 1D:
Possibilities:
1) Bounce Upward
2) Continue to follow the triangle down for a bit, then up.
3) Drop down into triangle
We pierced the lower bollinger band so on the 6H we are ok for a bounce, but nothing is guaranteed.
Please see the image below for the entire triange on the 1D:
Possibilities:
1) Bounce Upward
2) Continue to follow the triangle down for a bit, then up.
3) Drop down into triangle
Note
Note
Note
So option #2: We continue to ride down the triangleNote
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Related publications
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.