While descending triangles are commonly thought as bearish, it can also break upwards. According to the pattern site, " Look for triangles with upward breakouts near the start of an uptrend".
Pros:
- Based on the HTF context, PAY has been on a sustained downtrend for quite sometime so upward breakout of descending triangle (i.e. as a reversal instead of continuation pattern) is possible.
- Now it's resting on a higher low support.
- Also 1H and 4H bullish divergence on the macd
- Risk:reward seems good.
Cons:
- descending triangles break down 64% of the time.
Pros:
- Based on the HTF context, PAY has been on a sustained downtrend for quite sometime so upward breakout of descending triangle (i.e. as a reversal instead of continuation pattern) is possible.
- Now it's resting on a higher low support.
- Also 1H and 4H bullish divergence on the macd
- Risk:reward seems good.
Cons:
- descending triangles break down 64% of the time.
İşlem aktif
took a while but trade looking good :) taking partial profits at previous highsİşlem elle kapatılmış
Didn't get as high as the ultimate target for this setup. I closed the position in profit when I started see bearish divs. However, it's still in a short-term uptrend with this higher low formed.
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.