As we are aproaching the apex this triangle formation on the 4H chart, we might see a breakout.
For longs:
-Wait for a 4H candle break to the upside and a re-test at the resistance zone 7800-7900;
-Possible target: resistance zone 8800-8950, which might touch our descending channel;
For shorts:
-Wait for a break of the triangle to the downside and a re-test of that same triangle;
-The next target would be our big support between 6350-6700;
My guess would be LONG, since we have touched the bottom of the descending channel, but it's just a guess, anything can happen so be carefull and use stop-losses. This is just a simple and clear analysis to give you an idea about this 2 different scenarios.
This is not financial advice.
For longs:
-Wait for a 4H candle break to the upside and a re-test at the resistance zone 7800-7900;
-Possible target: resistance zone 8800-8950, which might touch our descending channel;
For shorts:
-Wait for a break of the triangle to the downside and a re-test of that same triangle;
-The next target would be our big support between 6350-6700;
My guess would be LONG, since we have touched the bottom of the descending channel, but it's just a guess, anything can happen so be carefull and use stop-losses. This is just a simple and clear analysis to give you an idea about this 2 different scenarios.
This is not financial advice.