The pattern is clean. We are currently forming a descending triangle.
The declining volume suggests that there is an imminent move.
Descending Triangle Statistics:
Break-even failure rate: 16% in a bull market; 11% in a bear market
Average decline: 16% in a bull market; 25% in a bear market
Pullbacks: 54% in a bull market; 59% in a bear market
Percentage meeting price target: 54% in a bull market; 50% in a bear market
Nobody should base his trading strategy on one indicator only therefore, we should consider the volume profile and how HVN fits with the bottom trend line of the triangle.
Also, the 9/30 strategy (look at the previous idea) suggests that a death cross is about to happen, confirming a downward move.
When the breakout occurs, one should wait for a pullback and volume increase before opening a trade.
You should also have price targets and stop losses...
Trade carefully
The declining volume suggests that there is an imminent move.
Descending Triangle Statistics:
Break-even failure rate: 16% in a bull market; 11% in a bear market
Average decline: 16% in a bull market; 25% in a bear market
Pullbacks: 54% in a bull market; 59% in a bear market
Percentage meeting price target: 54% in a bull market; 50% in a bear market
Nobody should base his trading strategy on one indicator only therefore, we should consider the volume profile and how HVN fits with the bottom trend line of the triangle.
Also, the 9/30 strategy (look at the previous idea) suggests that a death cross is about to happen, confirming a downward move.
When the breakout occurs, one should wait for a pullback and volume increase before opening a trade.
You should also have price targets and stop losses...
Trade carefully
İşlem aktif
Not
Take profit 1: ✅Not
Take profit 2: ✅Not
Take profit 3: ✅İşlem kapandı: hedefe ulaştı
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.