This thread is to discuss cable and naked chart analysis not systems.
so on the hourly there is a pennant that has formed, not a triangle since triangles are classified as being a minimum of three weeks long. Anything shorter than that is classified as a pennant which has different rules and breakout percentages. The steep quick price trend prior to the pennant is also important for the performance of a pennant. The average rise in price in a bull market is 25%. However the average change after trend is -25%. which means a reversal is not likely.
So its a safe bet that cable should continue its uptrend.
so on the hourly there is a pennant that has formed, not a triangle since triangles are classified as being a minimum of three weeks long. Anything shorter than that is classified as a pennant which has different rules and breakout percentages. The steep quick price trend prior to the pennant is also important for the performance of a pennant. The average rise in price in a bull market is 25%. However the average change after trend is -25%. which means a reversal is not likely.
So its a safe bet that cable should continue its uptrend.
Just Trade It