Price came to the end of a symmetrical triangle. We have 2 alternatives:
If price will break the upper trendline of a pattern then we may go long with a nice money management taking confirmations on lower timeframes. Possible entry zone is closing above 140.00. Potential target zones are 174.00 and 221.00
On the other hand, sideway move of 100MA and 200MA it means strong resistance level and there is also 4th touch of lower trendline, price could break the lower trendline. Here, poterntial entry point is closing below 111.00 and target zone is 88.00
- Murod
If price will break the upper trendline of a pattern then we may go long with a nice money management taking confirmations on lower timeframes. Possible entry zone is closing above 140.00. Potential target zones are 174.00 and 221.00
On the other hand, sideway move of 100MA and 200MA it means strong resistance level and there is also 4th touch of lower trendline, price could break the lower trendline. Here, poterntial entry point is closing below 111.00 and target zone is 88.00
- Murod