Hi mates another interesting idea with high Risk Reward!!!
As you see by two trendlines, uptrend in ALLE is incrasing in momentum. Now its definetely nice entry sweet spot on demand zone in 106 - 109 area. Target area is next supply zone at 119.30 - 194.36
My setup is following:
------------------------Trade setup ---------------------------
Entry: 109.80
Stop...
Descending Triangles are repeatable trading chart patterns.
Descending chart patterns will have a directional bias depending on the previous incoming trend (Short Trade).
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
Whatever time frame you are trading this chart pattern, wait for a candle close outside...