Redtone.. formed a shooting ..

Today have a big volume and manage to break those big road blocks are 0.395 in the morning and touch the 0.41 resistance.. Without enough firepower, it retraces back to 0.405 . It almost broke the ascending triangle . The bad news this counter formed a shooting star on the resistance line.. 

 ..

Indicators

1) Trendline - Broke above the Uptrendline (Bullish)

2) Support/Resistance - Formed higher low (Bullish)
3) MACD - Bullish Crossover  (Bullish)
4) RSI -  Broke above 50% (Bullish)
5) STO - Bullish Crossover and  broke above 50%(Bullish).
6) Ichimoku - a) Above  support cloud (Bullish).
                       b) Conversion line above the base line (Bullish).
                       c) Price above the baseline ( Bullish)

7) Candlestick - Formed Shooting Star.. ( Bearish) If accompany with a black candle it will confirm the temporary bearish mode.

8) Pattern - Ascending triangle.. If break above from 0.41 , the TP for this pattern is 0.5 (20%)

Conclusion:

Bullish -

The is a few scenarios for this pattern.

1) Break above 0.41 on the next following day

2) Retrace to 0.38 and then incline back to test the 0.41

3) Break below 0.38 and negate the ascending triangle pattern

E ( Entry) :0.395 ( Closed at or above it)

S ( Stop Loss) : 0.375

P ( Profit) :0.425

RRR (Risk to Reward Ratio) = 1.5 (Average)

E ( Entry) :0.395 ( Closed at or above it)

S ( Stop Loss) : 0.375

P ( Profit) :0.435

RRR (Risk to Reward Ratio) = 2 (Average)

Resistance  0.41 / 0.435 / 0.45 / 0.46 / 0.5 ( Ascending Triangle TP)

Support    0.38 / 0.372 / 0.36