(*This idea is not meant to be any kind of advice. Trade on your own Risk!*)
Here is the summary of the indications:
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Hi Traders!
The setup of this idea is that the market is at a relatively low price at the moment.
Now, it is going up.
If you zoom out towards the daily chart, you can see that the market is moving in a Broadening Wedge,
from which it lastly touched the lower Trendline.
However, now we are in a Bullish Flag Pattern.
Simultaneously, we are above the major weekly Support.
The target would be the next major Resistance at around 1.17400.
This target is also at the height of the bullish flag pole - the distance, which
is typically used for the Bullish Flag Pattern.
If you have any questions, another point of view or something to add, please comment!
Thanks and successful Trading :-)!
Here is the summary of the indications:
- Low Price
- Daily Broadening Wedge
- Above weekly Support
- Bullish Flag Pattern
- Target is at the height of the bullish flag pole
------------------------------
Hi Traders!
The setup of this idea is that the market is at a relatively low price at the moment.
Now, it is going up.
If you zoom out towards the daily chart, you can see that the market is moving in a Broadening Wedge,
from which it lastly touched the lower Trendline.
However, now we are in a Bullish Flag Pattern.
Simultaneously, we are above the major weekly Support.
The target would be the next major Resistance at around 1.17400.
This target is also at the height of the bullish flag pole - the distance, which
is typically used for the Bullish Flag Pattern.
If you have any questions, another point of view or something to add, please comment!
Thanks and successful Trading :-)!
