The Pair has formed a broadening pattern in a 15min time frame. In this pattern the trendlines are disjoining. The pattern is hard to trade as the breakout from the pattern led to late entry. The best way to enter the pattern is through shortfall. If a shortfall is seen in the pattern a trade can be taken.

A broadening pattern along with symmetric pattern is one of the best patterns to trade, known as the diamond pattern.

The pair is trading above the 50day and 10day EMA indicating positive trend, If the pair is able to sustain above the EMA for next 30min we can expect the breakout on the upside. If the pair is not able to sustain above the EMA wait for breakout on either side or wait for shortfall.

Advice : Trade as per breakout or shortfall.

Broadening Pattern Formed in the pair trade as per breakout.

Jul 13 2022

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