Price is moving inside a symmetrical triangle. The upper and lower boundaries have been tested twice now and price needs still to break out for a clear direction.

If you have not initiated a short position at the upper boundary then I recommend to wait for an outbreak for confirmation of direction.

If price breaks out to the up side which is not as likely as to the down side then you would trade against the 200 day moving average trading therefore counter trend.


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.