Today's Idea is how we can interpret a combination of Forks, Fib Retracements and ( S/R ) Levels, Notice the Compression Zone where 2 forks overlap...... A break of the Triangle can give you an early opportunity to enter the market. The other interesting point is the Double Bottom a break of which can create a powerful drop to the 50% Level. My analysis is on the chart.
Note: For those who would trade intraday, look for patterns as the market gets close to the bottom side of the triangle, If it breaks you can pan out and set longer term targets based on the daily chart, this will improve your R:R)
Sincerely,
TIK
Note: For those who would trade intraday, look for patterns as the market gets close to the bottom side of the triangle, If it breaks you can pan out and set longer term targets based on the daily chart, this will improve your R:R)
Sincerely,
TIK