Hello everyone, analyzed the IDEX/BUSDT pair
The formation of a cup with a handle, as well as the possible formation of an inverted head and shoulders pattern.
It is worth noting that there is a small price gap on the 4 hour timeframe. Algorithms cover such areas. So I think the formation of an inverted head and shoulders is more than obvious.
To understand this, the price must consolidate below the resistance level for at least 1 day on the daily timeframe.
There is also a second option, it is a breakdown of the resistance level, and the price goes beyond these boundaries.
Target on the FIBO grid.
Stop loss - everyone chooses for himself, following his own trading system.
"This is just my opinion, trade with your trading system
Have a nice day and come back again."
Go to my free channel and chat with other traders. Link in the description
Write your opinion, whether there is a place to buy here, and open a long position
cup with handle + possible inverted "head and shoulders"
The formation of a cup with a handle, as well as the possible formation of an inverted head and shoulders pattern.
It is worth noting that there is a small price gap on the 4 hour timeframe. Algorithms cover such areas. So I think the formation of an inverted head and shoulders is more than obvious.
To understand this, the price must consolidate below the resistance level for at least 1 day on the daily timeframe.
There is also a second option, it is a breakdown of the resistance level, and the price goes beyond these boundaries.
Target on the FIBO grid.
Stop loss - everyone chooses for himself, following his own trading system.
"This is just my opinion, trade with your trading system
Have a nice day and come back again."
Go to my free channel and chat with other traders. Link in the description
Write your opinion, whether there is a place to buy here, and open a long position
cup with handle + possible inverted "head and shoulders"