Break out ?
Respectfully my 2 cents. No financial advise.
Can we consider this a valid entry point? Due to the following reasons:
1- the last candle ended up outside the triangle. Hinting at a break out.
2- we are above the moving average, which could be our support worse case scenario.
3- we just broke the 0.5 fib level which turns into support.
One thing to pay attention to is that the next Fib level might be strong resistance so I’m not completely sure.
Can we consider this a valid entry point? Due to the following reasons:
1- the last candle ended up outside the triangle. Hinting at a break out.
2- we are above the moving average, which could be our support worse case scenario.
3- we just broke the 0.5 fib level which turns into support.
One thing to pay attention to is that the next Fib level might be strong resistance so I’m not completely sure.
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