DIS, triangles all the way down

25 oct. 2020

Graph is cluttered, however the chaos can be easily explained. First, let’s start with the symmetrical triangle inside of the ascending triangle. After the drop in March price started to consolidate on a previously well know resistance area and converted into the symmetrical triangle leading to a break out of the bearish trend line. However the previous year set a well tested support. Price broke out of the symmetrical triangle and the well tested support but could not hold, leading the price to fall down to the second bullish trend line. The bullish trend line along with the well know support make a assending triangle.

Long after a close above the resistance line. Stop loss is a close below the bullish trend line.

Use risk management as always.

Thank you for reading.

2 nov. 2020

Ordre annulé

Price never closed above resistance line