Descending triangle pattern developing. If price action can stay above the Alligator lines for more than a few days it has a chance of moving higher, fulfilling the "large bull flag" analysis, creating the trade of a lifetime.
If price sustains below the three Alligator lines then a further drop becomes more likely, leading to the fulfillment of the descending triangle. With that, also, bringing the trade of a lifetime.
I'm developing a strategy now but basically it looks like this:
If price sustains below the three Alligator lines then a further drop becomes more likely, leading to the fulfillment of the descending triangle. With that, also, bringing the trade of a lifetime.
As long as I follow the RULES. I will go long when: 1. ADX and DI Green line crossed above red. 2. Price action: candles closing above Alligator indicator lines for at least a few days. 3. All three Alligator lines pointing upward. 4. Stop loss set 2% below entry.
If stopped out, another chance should come shortly because if you get stopped out there is a high chance that a big move upward is coming, go back in when RULES are satisfied. BOOM.
That should bring a huge trade opportunity. I'm going to be doing further backtesting. All of this is preliminary. And for entertainment only, I'm not a financial advisor.