MACD and RSI are confirming trend reversal and if the price breaks above Downtrend Line + Ma100 this is strong indication of possible price reversal. The price is forming The Symmetrical Triangle Pattern and if the price breaks downwards the initial breaking out target would be in the second possible reversal zone. Before of this the first reversal zone should be tested. Buy orders should be set 2.3 level and with stop-loss at 1.6 below the pattern. Longer Term Targets are at 3.8 & 4 levels. Partial amount of the profits should be taken 2.8 - 3.0 levels and Main Target is 3.20.
If the price does not reach the buy order and starts falling, then it is good opportunity to wait instead and for another trading opportunity.
Educational Part:
Did you know that once the symmetrical triangle breaks either support or resistance level, it will do it rapidly and is known from it's explosive breakouts. This is knowledge that helps you to determine your stop-loss strategies better when you are trading this pattern. I personally like to use quite tight stop-losses when trading this pattern.
Things to Remember:
-> Stop-loss orders are strongly recommended.
-> Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
-> Do your homework before investing.
DISCLAIMER:
Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr!
If the price does not reach the buy order and starts falling, then it is good opportunity to wait instead and for another trading opportunity.
Educational Part:
Did you know that once the symmetrical triangle breaks either support or resistance level, it will do it rapidly and is known from it's explosive breakouts. This is knowledge that helps you to determine your stop-loss strategies better when you are trading this pattern. I personally like to use quite tight stop-losses when trading this pattern.
Things to Remember:
-> Stop-loss orders are strongly recommended.
-> Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
-> Do your homework before investing.
DISCLAIMER:
Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr!
