Backtesting for breakout?
On the 1H there's a confluence of the upper pennant, 0.236 (fib of local high/low) and the 200 MA. If support holds I foresee good gain perspective, when it breaks we might test the bottom again which has been very consistent and moving up slowly but strong! As we are nearing the end of the apex the odds are looking good and there's space on the RSI for upward momentum on most time frames.
!!!DISCLAIMER!!! I'm new to analysis since November 2019 and this idea is only for the purpose of sharing ideas NOT investment advice, therefore any feedback from aspiring traders and experts are more than welcome.
Always remember to not go into a trade to soon and take profit along the way. Stay safe, stay profitable ^^
!!!DISCLAIMER!!! I'm new to analysis since November 2019 and this idea is only for the purpose of sharing ideas NOT investment advice, therefore any feedback from aspiring traders and experts are more than welcome.
Always remember to not go into a trade to soon and take profit along the way. Stay safe, stay profitable ^^
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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.