Symmetrical Triangle observed in CLEANNSE:CLEAN few weeks back gave a breakout and trapped the Bulls. The Stock in now forming a continuation Symmetrical Triangle at its breakout levels of 1625-1630
1. RS Nifty 55 is positive
2. RSI > 60
Entry - 1625-1630
TGT - 1780
SL1: Super Trend (10, 3) turn negative
SL2: RS 21 < 0
Breakouttrap
EURAUD: Head & Shoulders Monster!!!WOW! Look at the size of that head and shoulders pattern.
Retail traders will be all over this! This calls for caution.
I won't be trading this method how retail trade it, I will be waiting for the manipulation to occur before I introduce my sell positions.
Selling the breakout could be catastrophic because we have an order block resting below the region.
Will you be trading the retail method or the smart money method?
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Keep in mind that the analysis provided is not 100% accurate and that you can never be certain of the markets. This information given is not financial advice, always do your own research.
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Cheers to many pips!
EURGBP - Breakout TrapBefore breaking out we created a smooth support level for breakout buyers to place their stops at.
This of course got purged before continuing higher.
Now that the majority of liquidity has been taken from this area we should see the next fluid move to the upside.
I want to see how price rejects at this current level, my only concern is the weekly low nearby that may want to be taken out.
I will keep you all updated.