CarolP111

possible short term trade

LSE:BT.A   BT GROUP PLC ORD 5P
A possible descending triangle is reaching it's end (two black lines), I predict that soon the price will break out of the top of it and possibly overcome the resistance which it had been experiencing (dark red line) .
The strategy I would use is to wait a bit longer and to see if the price rises above of the lowest point in the triangle (lowest black line) and if it continues upwards from that then consider trading.
The reason I would wait to see if it would bounce is because that it won't necessarily rise, this is because it is currently the averages (below EMA and WMA ), it is also in the red today and it's entirely possible that it will continue down on that path.
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