Hi traders its JK here again, and today we will be looking at ETHUSD. Pending the undecided move in the market price lately, majority of the crypto price are relatively showing a sign of retesting the previous low(support level)
Clearly shown above is a classical chart pattern called the THE DESCENDING TRIANGLE CHART PATTERN. What is the real fact behind this pattern?
Traders need to know that the real fact behind this pattern is the horizontal boundaries(support).
This pattern is considered to be a bearish continuation chart pattern looking at its current position now.
Now the question is, how do traders take advantage of this pattern?
First of all they need to wait for the pattern to be valid before thinking of opening a position. This pattern becomes valid only when price close below the horizontal boundaries. Looking at the move to retest a low of $138 down to $130.
Hey guy, let me see what you think and have to share in the comment below and also dont forget to like and follow.
You can also join me on twitter :
twitter.com/john8kelvin2
On youtube for more educational content and signals:
www.youtube.com...exLImfv4adn4TCw?view_as=su...
PM me on telegram:
@JOHN8KELVIN
Clearly shown above is a classical chart pattern called the THE DESCENDING TRIANGLE CHART PATTERN. What is the real fact behind this pattern?
Traders need to know that the real fact behind this pattern is the horizontal boundaries(support).
This pattern is considered to be a bearish continuation chart pattern looking at its current position now.
Now the question is, how do traders take advantage of this pattern?
First of all they need to wait for the pattern to be valid before thinking of opening a position. This pattern becomes valid only when price close below the horizontal boundaries. Looking at the move to retest a low of $138 down to $130.
Hey guy, let me see what you think and have to share in the comment below and also dont forget to like and follow.
You can also join me on twitter :
twitter.com/john8kelvin2
On youtube for more educational content and signals:
www.youtube.com...exLImfv4adn4TCw?view_as=su...
PM me on telegram:
@JOHN8KELVIN