As you can see at the chart, there's a clear symmetrical triangle happening. You need to know that symmetrical is the triangle that most frequently represent reversals. It's true that triangles are usual a continuation pattern, but in this case the TA set up for a reversal is so good:
1.- RSI over 50 and support over there, no bearish signs.
2.- ADX-DI on trendy bullish way, so we need to look RSI
3.- Stoch: Not important for me in this case but also is crossing bullish.
4.- MACD: On bullish side and almost crossing bullish for signal buy.
Green rectangle is my fibonacci + S/R target (should be modified pay attention to indicator alarms)
Support is our triangle always taking into account wicks.
I've got R:R of 3!!!! I can't avoid this trade.
Not advice, just my journey.
Also TAEL (wabi) announcing an agreement with Wakatsuru, a subsidiary coca-cola embotteling business, so can help this movement (although is not a big announcement).
1.- RSI over 50 and support over there, no bearish signs.
2.- ADX-DI on trendy bullish way, so we need to look RSI
3.- Stoch: Not important for me in this case but also is crossing bullish.
4.- MACD: On bullish side and almost crossing bullish for signal buy.
Green rectangle is my fibonacci + S/R target (should be modified pay attention to indicator alarms)
Support is our triangle always taking into account wicks.
I've got R:R of 3!!!! I can't avoid this trade.
Not advice, just my journey.
Also TAEL (wabi) announcing an agreement with Wakatsuru, a subsidiary coca-cola embotteling business, so can help this movement (although is not a big announcement).
Trade active:
