Hello,
Fellow traders,
According to trend lines theory to draw a line we need two dots and to confirm it we need tree dots so upper line (resistance) has been confirmed. I suggest that lower line (support) line is connected with a upper line and it gives us EXPANDING triangle. And RSI confirms a moment to buy. Think about FED rate decision - it will move the trend to the down side. And at the moment trend is going to the down side. Usually trend is moving opposite before rate decision day. So I would expect trend movement to the upside and after rate decision to the downside.
Please comment, I am looking forward to your ideas.
Best Regards,
Trader.
Fellow traders,
According to trend lines theory to draw a line we need two dots and to confirm it we need tree dots so upper line (resistance) has been confirmed. I suggest that lower line (support) line is connected with a upper line and it gives us EXPANDING triangle. And RSI confirms a moment to buy. Think about FED rate decision - it will move the trend to the down side. And at the moment trend is going to the down side. Usually trend is moving opposite before rate decision day. So I would expect trend movement to the upside and after rate decision to the downside.
Please comment, I am looking forward to your ideas.
Best Regards,
Trader.
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