MATIC Cup and handle BULLISH!
Hi, Tradingview
MATICUSDT
MATIC has formed a cup and handle on the 2hr, and 4hr chart. We can also see with the TSI indicator that there is what looks like a bullish
crossing possibly happening on the 2hr, however possible bearish crossing on 4hr. This means it could go either way. We could see a bounce
on the 4 hour with a break on the 2 hour(bullish), or a bounce on the 2 hour with a break on the 4 hour(bearish). I will be waiting for
confirmation of either before I get into a trade (details below). Before we get into that I want to discus what could happen if the bearish
crossing on the 4 hour takes place. 1. We could see a test of the .85, or .83 support (yelllow dashed lines) 2. we could see a complete
breakdown of the cup and handle. Breaks downs like that have been occuring recently. I personally am leaning more towards the bullish side
as I believe the rest of the market is.
How I would trade this (will update if I take a position)
Entry: Break and confirmation of red box, retest of .8535 support with bullish TSI
SL: break below red box
TP1: .89
TP2: .90
TP3: .95
Hoping to see some more bullish action. Happy trading!
-- Spike Cap
MATICUSDT
MATIC has formed a cup and handle on the 2hr, and 4hr chart. We can also see with the TSI indicator that there is what looks like a bullish
crossing possibly happening on the 2hr, however possible bearish crossing on 4hr. This means it could go either way. We could see a bounce
on the 4 hour with a break on the 2 hour(bullish), or a bounce on the 2 hour with a break on the 4 hour(bearish). I will be waiting for
confirmation of either before I get into a trade (details below). Before we get into that I want to discus what could happen if the bearish
crossing on the 4 hour takes place. 1. We could see a test of the .85, or .83 support (yelllow dashed lines) 2. we could see a complete
breakdown of the cup and handle. Breaks downs like that have been occuring recently. I personally am leaning more towards the bullish side
as I believe the rest of the market is.
How I would trade this (will update if I take a position)
Entry: Break and confirmation of red box, retest of .8535 support with bullish TSI
SL: break below red box
TP1: .89
TP2: .90
TP3: .95
Hoping to see some more bullish action. Happy trading!
-- Spike Cap
Comment:
In small position
Comment:
SEEMS TO BE RETESTING
Comment:
Couldnt hold we go again soon