I would like to note that I normally don't do retail patterns, however this symmetrical triangle on RNDR is too obvious to ignore.
From what I know about symmetrical triangles, the first move is always the false move. Look out for a liquidity grab below the bottom trendline to hunt traders' stop losses.
Once the market makers have the necessary liquidity to fill their orders, they will push price back up into the triangle to stop out any late shorts and take it the other way.
Something to note is that we still have a daily fair value gap up at $10.31. You will normally not see those left behind unless the market makers are planning to return to that area. Once we have no fair value gaps overhead, price will have little reason to continue up, but as long as that D FVG remains, expect us to return there.
Ideal Long Entry Levels:
Demand & 2024 VAL - $6.757
SFP of 3rd Low - $5.87
Weekly FVG - $4.83
Daily Demand - $4.022
Ideal Short Entry Levels (Use These for Long Take Profits):
Wave 1 Low / Golden Pocket - $9.73
Daily FVG - $10.297
Daily Supply - $10.546
Daily Supply - $11.345
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From what I know about symmetrical triangles, the first move is always the false move. Look out for a liquidity grab below the bottom trendline to hunt traders' stop losses.
Once the market makers have the necessary liquidity to fill their orders, they will push price back up into the triangle to stop out any late shorts and take it the other way.
Something to note is that we still have a daily fair value gap up at $10.31. You will normally not see those left behind unless the market makers are planning to return to that area. Once we have no fair value gaps overhead, price will have little reason to continue up, but as long as that D FVG remains, expect us to return there.
Ideal Long Entry Levels:
Demand & 2024 VAL - $6.757
SFP of 3rd Low - $5.87
Weekly FVG - $4.83
Daily Demand - $4.022
Ideal Short Entry Levels (Use These for Long Take Profits):
Wave 1 Low / Golden Pocket - $9.73
Daily FVG - $10.297
Daily Supply - $10.546
Daily Supply - $11.345
Follow me for more trading ideas and check out our premium signals, where you can receive everyday analysis like this, including analysis on lower time frames for profitable scalping & day trading!
