A symetrical triangle formation. If support hold I would long until the upper resistance wall is reached for R:R ratio 2:1. Furthermore, symetrical triangles usually are broken to the upside as a bullish continuation pattern. If so, it might cause a strong inpulse which equals to the distance show as a white arrow. It would give us astonishing 7:1 R:R ratio in a middle term hold.
If it breaks lower support wall, I would place stop/loss somewhere in the previous horizontal support zone. It also complies with a 200EMA support on a 4h timeframe.
Good luck traders.
If it breaks lower support wall, I would place stop/loss somewhere in the previous horizontal support zone. It also complies with a 200EMA support on a 4h timeframe.
Good luck traders.
We can rise our stop/loss just below the trend line resistance (which became a support) and go for the next target.
Good luck