The Security 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 Security  is trading near Fast and Slow EMA . For a breakout the security has to close above/below the falling/rising trendline. After the breakout a position can be entered in the security 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 below DI+/DI-, ADX has to trade above 20 to go for direction trade.

Symmetric Traingle

Apr 06 2023