Hello traders, I want to share this new triangle that is forming in the 15m-30m timeframe.
Triangles are often misnamed 'unbiased' because no one is sure which side the triangle will break, up or down.
In Elliott waves, this question is easily solved: triangles only indicate continuation and are only allowed to happen in 2 situations.
The theory says that we can always find a low-risk location based on the counting invalidation rules, where we can accurately locate our SL.
We can place our SL for shorts at 1.08 and our TP below 1.044 where we can start looking for longs with a SL at 1.018 and a TP above 1.11.
If you want to support me here it is my BUSD BEP20 address: 0x66a39a58d46f21fd61ced8ce11c7420f5b977182
This style of analysis is called Elliott Wave, good luck to everyone!
Triangles are often misnamed 'unbiased' because no one is sure which side the triangle will break, up or down.
In Elliott waves, this question is easily solved: triangles only indicate continuation and are only allowed to happen in 2 situations.
The theory says that we can always find a low-risk location based on the counting invalidation rules, where we can accurately locate our SL.
We can place our SL for shorts at 1.08 and our TP below 1.044 where we can start looking for longs with a SL at 1.018 and a TP above 1.11.
If you want to support me here it is my BUSD BEP20 address: 0x66a39a58d46f21fd61ced8ce11c7420f5b977182
This style of analysis is called Elliott Wave, good luck to everyone!