After morphing back and forth between several different potential trendlines since it began forming, the 1 day chart's current ascending triangle pattern is starting to finally offer some clarity and solidity on which of those countless trendlines is most valid as the top and bottom trendlines of this triangle. Thanks to the recent close of yesterdays big red daily candle we now have a very convincing bottom trendline to work with. I have also drawn a dotted trendline connecting the wicks since it is still potentially a candidate for becoming a more valid bottom trendline...but as for now the solid one looks much more valid. For simplicity I have wiped the chart clean of any other trendline that no longer feels like a potential top or bottom trendline to this triangle.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.