Ethereum Pennant Chart Pattern

Let's look at 4H chart of Ethereum. We can draw a pennant chart pattern which is belong to a continuation group of patterns. Mainly after a breakout of its signal line, a market continues the previous trend. We have to trade this pattern based on a breakout signal. We should expect that the price breaks the top border of the pennant. Pending orders for buy should be placed above this resistance line. Estimated entry level should be at 305.00 with stop orders below 278.00 level. Take profit should be at 350.00 resistance level. If the price drops below the support line, we'll see downward movement to the uptrend line. This line will be able to give us new trading opportunity.