This pair is about to take off ! (Triangular Pattern Complete)
A triangular pattern has formed. The horizontal line tells us that there is no change in the bearish momentum.
Confused? Let me explain.
Every time when the bears push the prices back down, the swing highs do not get lower which indicates that the momentum of the bears does not increase. They remain constant.
On the other hand, the ascending diagonal line tells us that the bullish momentum is increasing.
Every time when the bulls fight back after being knocked down, the swing lows get higher which signifies that the momentum of the bulls is growing.
Hmm... 1:1.5 risk-reward ratio.
That’s pretty decent. So, Mr Market…
Shut up and take my money!
--
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Confused? Let me explain.
Every time when the bears push the prices back down, the swing highs do not get lower which indicates that the momentum of the bears does not increase. They remain constant.
On the other hand, the ascending diagonal line tells us that the bullish momentum is increasing.
Every time when the bulls fight back after being knocked down, the swing lows get higher which signifies that the momentum of the bulls is growing.
Hmm... 1:1.5 risk-reward ratio.
That’s pretty decent. So, Mr Market…
Shut up and take my money!
--
Join our FX training platform (for free): onelink.to/sjxych
Follow my Instagram: bit.ly/33PN5q1
Check my Tweet: bit.ly/2rPSlMr