The Index is making Higher lows and Lower Highs forming a symmetric triangle, A symmetric triangle breakouts at lower level has been more favorable than upside.

Currently the Index is trading near Fast and Slow EMA. For a breakout the pair has to close above/below the falling/rising trendline. After the breakout a position can be entered in the Index in the upside/downside direction. For confirming the move the pair has to trade above Fast /Slow EMA.

DI- is trading above DI+ and ADX is trading above both DI indicating strength in the move.

Advice : Trade as per breakout ( Expected Breakout on the Downside.)

Symmetric Pattern

Mar 09 2023