Here's a quick look at the ATOM 15 min chart. As we can see, the price has been forming a bull pennant and we should watch out for a breakout. The best entry would be when the price breaks above the bull pennant with a good amount of volume . ------------------------------------------- The idea is: Buy when the price breaks above the bull pennant and take profits at the levels shown in the chart.
Targets:
1. 16.3$ 2. 16.7$ 3. 17.1$ 4. 18$ ------------------------------------------- What are triangles when it comes to trading?
Key points: "1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape.
2. Triangles are similar to wedges and pennants and can be either a continuation pattern if validated or a powerful reversal pattern, in the event of failure.
3. three potential triangle variations can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles."
------------------------------------------- If you like the content, then make sure to comment and like the post :D
Follow me for daily profitable trading setups
BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
@AhmadMardeni, Always do your research properly when making a claim - otherwise it sounds stupid :) The bullish pennant is very similar to a bullish flag. Both consist of two phases: a strong uptrend and consolidation. In short; the bull pennant Indicate the continuation of a bullish trend.