October 2024 price action

1. acending triangle, buyer are willing to pay at higher price.

2. price shows rejection at trendline

3. good risk to reward.

sometimes just these few simple concept can make you pull the trigger to enter.

*if you look at a longer time frame, it forms higher low into a very strong resistant. this trade is an anticipation of reversal from a downtrend with a consolidation with higher low into resistant (potential accumulation stage) and anticipate a breakout if it happen.

PT is at resistant. SL below the trendline.

#priceaction