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
Trade attivo
Nota
Take profit 1: ✅Nota
Take profit 2: ✅Nota
Take profit 3: ✅Trade chiuso: obiettivo raggiunto
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.