if you club the price action of the two recent candles (22nd and 23rd) as one single candle i think we have a valid morning star. 1. price is above long term moving averages of 150 and 200 SMA ✔ 2. Price is not above short term moving average of 50 SMA ❌ 3. Uptick in RSI ✔ 4. MACD Ok ✔ 5. price breaking out from triangle pattern ABC ✔ 6. above average volumes ❌ It looks like a good risk-reward trade. More conservative approach maybe to see better volumes.
Price penetrating and closing below the lower parallel line of the pitchfork will mean the idea has failed.
**I will be posting ideas for my own journal-ing and learning sake and to hopefully spark up educational discussions. Please do not construe them as recommendations as I am just an amateur here to learn :)
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.