Price action and chart pattern trading signal
> A bullish scenario 4-wave triangle with a local bullish pennant breakout in triangle formation - D-wave uptrend
> price bullish momentum SMA20 X SMA50 and MACD X baseline
> Target 5 wave @ bullish pennant pattern = 1.618 extension of current 4-wave +50++% from expected E-wave support line.
> Stoploss @ C or A wave position -10%
> Risk reward ratio: 5:1
Always trade with affordable risk and respect your stoploss, nothing 100%.
> A bullish scenario 4-wave triangle with a local bullish pennant breakout in triangle formation - D-wave uptrend
> price bullish momentum SMA20 X SMA50 and MACD X baseline
> Target 5 wave @ bullish pennant pattern = 1.618 extension of current 4-wave +50++% from expected E-wave support line.
> Stoploss @ C or A wave position -10%
> Risk reward ratio: 5:1
Always trade with affordable risk and respect your stoploss, nothing 100%.