The security has formed Descending triangle. Descending Breakout on the upside has a higher success ratio compared to the downside.

The price are trading near the Fast and Slow EMA . Price breakout on the upside with a Fast and Slow EMA trading upside will be a strong confirmation to enter long and vice-versa for short.

RSI is following the price, upside breakout follow by RSI would be an confirmation to go long, vise versa for short.

DI+ & DI- is indicating flat direction currently, on upside breakout DI+ trading above DI- with ADX trading above DI- would be a strong confiramtion to enter long and vice versa for short.

Advice : Trade as per Breakout expecting breakout upside.

Descending Triangle

May 08 2023