& are supporting further upward movement in 1h chart by showing positive divergence (continuation).
The price is hovering at strong formed by MA50 level & of 11,261. If the Price can't bounce from this area it is likely continue move further downwards.
Buy orders should be set above swing high of 12,300 level and above MA100 level. Stop-loss should be set below strong at 9,700 level. MA100 level has acted as a resistance and when breached this is giving us confirmation of further upward movement.
Partial Profit Targets at 14,253 & 14900 levels. Main profit targets at 17,000 and 20,000 levels.
TIP: Only trade from the breakouts and confirmed signals. Down below I have listed important things to note about the Symmetrical Triangle.
About the Symmetrical Triangle Pattern:
-> 66% of time meets it's up target.
-> Known from Traps that occurs after breakouts
-> Breakouts tends to be explosive
-> At least 2 points are required to form a
and 2 are required to form the symmetrical .
-> starts decreasing when extending towards the apex.
If you need any help with trading, recommendations or where to search basics just feel free to leave me DM 1.29% in here or in my twitter. I try to respond ASAP! :)
Things to Remember:
- Stop-loss orders are strongly recommended.
- Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
- Do your homework before investing.
Over 90% performance with our trading system! |
In reality, it's more like water and flows with no prediction. So what we, "simple traders", could do is just try to catch the water movement.
This is why I am creating a hole new way of trading, called : "The Moving Water". So far is working pretty well, but I am trying to improve it as I speak.
Bottom line, we could have a bull trap, but even if it happens, would not go so far, there is no power for that:
- it's China's new year, and people from that part are taking there investments out to pay January bills, and a lot of USA results are coming op (fundamental);
- Big correction is about to happen, as the MA 1000 is squeezed down (3h chart), and price is about to loose MA100 (daily chart). ( Technical)
well talk is cheap so: