The trendline break, combined with sideways consolidation and a breakout candle, could be considered a bullish reversal pattern.
The volume confirmation (not shown here) would be useful to further validate the breakout strength.
Stop-loss is placed just below a local support zone, which is a common and logical choice.
The volume confirmation (not shown here) would be useful to further validate the breakout strength.
Stop-loss is placed just below a local support zone, which is a common and logical choice.
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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.