Breakout of the triangle. Waiting for the pullback.
On the chart, the D1 support level is visible. Just before it, a triangle has formed. This indicates a slowing down of the price.
Subsequently, this triangle was broken. At the same time, a morning star candlestick formation appeared on D1.
One of the possible scenarios I will be waiting for is a pullback to the area indicated on the chart. Then, if the price rally continues up to the next resistance, there is a chance to capture as much as an R:R of 5:1.
Subsequently, this triangle was broken. At the same time, a morning star candlestick formation appeared on D1.
One of the possible scenarios I will be waiting for is a pullback to the area indicated on the chart. Then, if the price rally continues up to the next resistance, there is a chance to capture as much as an R:R of 5:1.