So I while back we looked at ONCO breaking up from a large descending triangle and we found a good entry.
Now a possible new entry point will present itself.
Breaking up from the previous triangle we've now completed an impulse with correction pattern, finding support on the 0.5 fib (red circles).
Above we need to break the SEK 174-177,- resistance before a continuation of the uptrend.
Currently we are forming a nice consolidation pattern and creating an ascending triangle in the process. Looks like a very clean setup for a break up. But we need to wait for a break of the resistance first before looking for an entry on the lower timeframes.
Now a possible new entry point will present itself.
Breaking up from the previous triangle we've now completed an impulse with correction pattern, finding support on the 0.5 fib (red circles).
Above we need to break the SEK 174-177,- resistance before a continuation of the uptrend.
Currently we are forming a nice consolidation pattern and creating an ascending triangle in the process. Looks like a very clean setup for a break up. But we need to wait for a break of the resistance first before looking for an entry on the lower timeframes.
