TA:
- Huge cloud with a very horizontal top edge
- We see a triangle that could break any day now
- RSI is following a bullish trendline and is trendline is above the 50 level
- Stoch RSI about to make a crossover and is oversold
- Volume is confirming triangle
Strategy:
Wait for price break out of triangle(up) make sure it is not a fake breakout so look for some conformation for example check for a volume spike.
When the triangle breaks up and is confirmed it is probably also a conformation for an edge to edge ichimoku cloud trade so the top edge is probably going to
act as a resistance.
Triangle can also break down so wait the conformation!
- Huge cloud with a very horizontal top edge
- We see a triangle that could break any day now
- RSI is following a bullish trendline and is trendline is above the 50 level
- Stoch RSI about to make a crossover and is oversold
- Volume is confirming triangle
Strategy:
Wait for price break out of triangle(up) make sure it is not a fake breakout so look for some conformation for example check for a volume spike.
When the triangle breaks up and is confirmed it is probably also a conformation for an edge to edge ichimoku cloud trade so the top edge is probably going to
act as a resistance.
Triangle can also break down so wait the conformation!