Price was at the bottom of triangle pattern but…
As we can see, price was at the bottom of triangle pattern, but it was still in falling channel pattern…i took trade for upside move at 720 at marked arrow.
At line x - price took resistance as it is still in downtrend
Also following falling cahnnel pattern.
Conclusion - we should not enter for a uptrend trade, if it is still making lower low and lower high pattern.
At line x - price took resistance as it is still in downtrend
Also following falling cahnnel pattern.
Conclusion - we should not enter for a uptrend trade, if it is still making lower low and lower high pattern.
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