Bitcoin broke up this triangle📐 and I think there is chance for run to 40600. I did buy the initial breakout but one can set BUY LIMIT order to catch the possible pullback. Zoom out to see the whole white downtrendline. Nice confluence of targets - strong resistance expected.
ENTRY: local high @ 38780
STOPLOSS (SL): local low @ 38340
TARGET (TP): height of the triangle projected from midpoint of the local range (BUY LIMIT - SL) @ 40600
REWARD RISK RATIO (RRR): 4.1
INVALIDATION: when SL level hit
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
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See the bigger picture here:
Trade active
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Order filled ✔️
Trade closed: stop reached
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Stoploss hit 🛑 The white downtrendline resistance sent the price down. Trade didn't make it to the target.