Consolidation Assymetrical Triangle setting up to go Short
Germany 30 has been in consolidation on the hourly chart through yesterday.
You can see the asymmetrical consolidating triangle with a few features that indicate it could break and go short today.
1. The “lower highs” are occurring at a greater trend angle than the “higher lows”
2. The long candles testing the upper trend line have very small volume indicating the tests are not supported by buyers.
3. Wait for a break of the lower trend line and close outside before taking the short trade, supported by a good volume.
DISCLAIMER
I am a casual trader and not net profitable. Take my ideas with a grain of salt, I’m usually wrong.
You can see the asymmetrical consolidating triangle with a few features that indicate it could break and go short today.
1. The “lower highs” are occurring at a greater trend angle than the “higher lows”
2. The long candles testing the upper trend line have very small volume indicating the tests are not supported by buyers.
3. Wait for a break of the lower trend line and close outside before taking the short trade, supported by a good volume.
DISCLAIMER
I am a casual trader and not net profitable. Take my ideas with a grain of salt, I’m usually wrong.