Hi Traders!
The market is in a Downtrend.
As you can see the market was moving lower and lower until it reached the psychologic important Support of 106.000.
After that, the market broke out from the Trendline with high momentum.
This Breakout can now affect a Longterm Trend Change.
After the Breakout the market started to retrace.
If you pay attention to the pattern, you can recognize that this is a bullish flag pattern.
The distance to the target is the same length as the first bullish move.
We recommend to trade the Breakout with a confirmation!
Thanks and successful Trading :)!
The market is in a Downtrend.
As you can see the market was moving lower and lower until it reached the psychologic important Support of 106.000.
After that, the market broke out from the Trendline with high momentum.
This Breakout can now affect a Longterm Trend Change.
After the Breakout the market started to retrace.
If you pay attention to the pattern, you can recognize that this is a bullish flag pattern.
The distance to the target is the same length as the first bullish move.
We recommend to trade the Breakout with a confirmation!
Thanks and successful Trading :)!
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.
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.