Raymond chart was bullish for last few days & closed a bit above the previous high's of 810's. There are many aspects one can interpret this chart above :
i) The ranging candle can be considered as Flag or Triangle depending on how you draw your lines & Not to worry, both are fine.
ii) If you don't trade simple patterns, then you can consider this as simple pullback to retest 810's, so on Reversal confirmation go for long trades, if its in your plan
If you go for hourly timeframe, you can see more of ranging market in Raymond which awaits a breakout & the downside breakout : lets not play with it. So if only the upside bullish momentum is seen, we get long in Raymond.
Happy Trading !
i) The ranging candle can be considered as Flag or Triangle depending on how you draw your lines & Not to worry, both are fine.
ii) If you don't trade simple patterns, then you can consider this as simple pullback to retest 810's, so on Reversal confirmation go for long trades, if its in your plan
If you go for hourly timeframe, you can see more of ranging market in Raymond which awaits a breakout & the downside breakout : lets not play with it. So if only the upside bullish momentum is seen, we get long in Raymond.
Happy Trading !
