Price broke out from the triangle on the daily time-frame. On the 4H time-frame, price is moving in a rectangle. In the rectangle, price is forming a triangle.
If price breaks both the triangle and the rectangle upwards, target will be at the next support level which tallies with the 0.236 Fibonacci level. If price breaks downwards, it will be heading to the 0.51 Fibonacci level.
If price breaks both the triangle and the rectangle upwards, target will be at the next support level which tallies with the 0.236 Fibonacci level. If price breaks downwards, it will be heading to the 0.51 Fibonacci level.
Trade closed: target reached
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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.