H4 : A triangle pattern is very close to breakout !
IMPLICATIONS :
A downside breakout (likely) open the door for a target
of 0.4348 (50 % Fib retracement of the big rally)
While an upside breakout would open the door for 0.8077
Taking in account the ongoing bearish price action it is likely
to see a downside breakout.
Warning on indicator (cross under in progress !)
Wait for confirmation on H4 closing to see at which level we will be.
Then watch H1 and shorter time frames for validation of this expected
bearish scenario and managed your RR accordingly !
Ironman8848
IMPLICATIONS :
A downside breakout (likely) open the door for a target
of 0.4348 (50 % Fib retracement of the big rally)
While an upside breakout would open the door for 0.8077
Taking in account the ongoing bearish price action it is likely
to see a downside breakout.
Warning on indicator (cross under in progress !)
Wait for confirmation on H4 closing to see at which level we will be.
Then watch H1 and shorter time frames for validation of this expected
bearish scenario and managed your RR accordingly !
Ironman8848
