So used a bit of Ascending Triangle chart pattern rules along previous major support and resistance levels and came to this conclusion.
I think it will continue to tip toe on support level and possibly touch the ceiling again. All before major breakout.
Will be watching this one with an eagle eye :)
"The eye sees what it chooses to see"
Might be a good long one here. But as we all know might not.
Basing on wedge formation hitting support twice on higher lows and resistance level keeping lower highs at bay.
Will wait for a possible breakout in maybe 24 hours?
Forex newbie so feedback welcome please :)
In theory this could be considered a falling wedge on a uptrend? So there for could be a decent long position to previous resistance.
Alternatively it could be seen as a pennant pattern. So therefore it could go short.
Any feedback appreciated :)
Possible wedge that might be moving towards the major support level.
Idea is to enter at 1.31200 range - SHORT - TP at around 1.30600 range.
Forex Newbie. Please feel free to comment on my charts as any feedback will only help my development.