As we can see, price was at the bottom of triangle pattern, but it was still in falling channel pattern…i took trade for upside move at 720 at marked arrow.
At line x - price took resistance as it is still in downtrend
Also following falling cahnnel pattern.
Conclusion - we should not enter for a uptrend trade, if it is still making lower low and lower high pattern.
At line x - price took resistance as it is still in downtrend
Also following falling cahnnel pattern.
Conclusion - we should not enter for a uptrend trade, if it is still making lower low and lower high pattern.