US30 4H The Ascending Triangle Pennants

8 Ağu 2019

Ascending Triangle Pennants found on US30 on the 4H timeframe. In this example, we can clearly see the dynamics of a triangle in a bullish market. Await for the end of the next 4h candlestick closure to see if pirce breaks the CTL and break through the lines of resistance for a possibility of buyers starting to gain more strength to make Higher lows (HL) and for price to push to the upside furthermore.

8 Ağu 2019

Not

Beware that it is not always the case that the buyers in this case will win the battle and the price will break out past the flat area of resistance.

-Sometimes the resistance level is too strong, and there is simply not enough buying power to push price through the lines of resistance.