Morning traders!
4H Chart
Here is a great longterm setup with possibly multiple positions that can be taken here.
Currently we have a "Descending Triangle" with a great entry available at resistance.
I built the "Descending Triangle" on a 4H chart, I also have found confluence with my previouse published "Cypher Pattern" on the D Chart
There are pattern formations inside of pattern formations. Depending on your skill, understanding confluence as a trader becomes more and more important.
Note: This idea was sourced from a book called "Encyclopedia of Chart Patterns" second edition.
4H Chart
Here is a great longterm setup with possibly multiple positions that can be taken here.
Currently we have a "Descending Triangle" with a great entry available at resistance.
I built the "Descending Triangle" on a 4H chart, I also have found confluence with my previouse published "Cypher Pattern" on the D Chart
There are pattern formations inside of pattern formations. Depending on your skill, understanding confluence as a trader becomes more and more important.
Note: This idea was sourced from a book called "Encyclopedia of Chart Patterns" second edition.
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Commentaire:
This trade is a great example of waiting for the market to come to me instead of traders who, so to speak "chase the markets"