Hi Traders!
The market just broke the market structure.
Now it is in a (not confirmed) uptrend.
Before, the market was in a descending parallel channel.
Then it broke out, tested the Parallel Channel again and made a higher high.
After that the market got under the previous High (orange dotted line), but it failed to make a new lower low.
As you can see the market is now at the Trendline and a strong Support Area (purple triangle marked).
This is a great time to buy, because the Resistance is two times away from the risk!
We recommend to buy after a strong bullish Pattern.
Thanks and good luck :)!
The market just broke the market structure.
Now it is in a (not confirmed) uptrend.
Before, the market was in a descending parallel channel.
Then it broke out, tested the Parallel Channel again and made a higher high.
After that the market got under the previous High (orange dotted line), but it failed to make a new lower low.
As you can see the market is now at the Trendline and a strong Support Area (purple triangle marked).
This is a great time to buy, because the Resistance is two times away from the risk!
We recommend to buy after a strong bullish Pattern.
Thanks and good luck :)!
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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.
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.