On the daily chart the price is in the horizontal accumulation channel. Now the price has formed a symmetrical triangle, to determine the purpose of the triangle, we draw a parallel line of the lower base, and measure the value of the base of the triangle, this will be our goal. Also, at the level of 70 is an accumulation of liquidity (horizontal level of resistance) and passes the trend, fixation above will open the way to further development of upward movement. The entry point can be a break-down, or a pullback after a break-down at the confirmation of support.
This is not a signal to buy, but information for observation. Always assess your risks and put a stop loss.
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This is not a signal to buy, but information for observation. Always assess your risks and put a stop loss.
If you liked the idea, support with liking and subscription, it motivates for new trading ideas.
