Good morning traders, hope you are all having a fantastic morning.
Seen a potential triple bottom around the current low on the hourly timeframe. For me, based off my back testing and strategy I know that triple bottoms/ tops tend to give off good reversal signals as long as you target them correctly. The risk/ reward ratio I usually see off these are usually a lot higher than the standard 1:3 ratio.
I will be waiting for a little more confirmation as I expected price to hold a little while longer around this zone before taking off.
Seen a potential triple bottom around the current low on the hourly timeframe. For me, based off my back testing and strategy I know that triple bottoms/ tops tend to give off good reversal signals as long as you target them correctly. The risk/ reward ratio I usually see off these are usually a lot higher than the standard 1:3 ratio.
I will be waiting for a little more confirmation as I expected price to hold a little while longer around this zone before taking off.