wistfulautomata

A very optimistic approach to MATIC chart

Long
BINANCE:MATICUSDT   MATIC Network / TetherUS
Some fantasy about MATIC chart.

Head&Shoulders target being the new accumulation level with a spring to the previous low. Macro double bottom . Adam&Eve. Perfect preparation for the bull run.
Comment:
Not fun version. I like MATIC. I used to use it heavily. I would definitely buy the double bottom.
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I don't think this is a great short right now btw. It makes me feel like one last up thrust is needed before confirming anything.

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And I don't think it's gonna happen but invalidating H&S would be super bullish. You would look for crazy targets in that case.
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This is a 200d range so far. It's not a toy for kids. Big guys are playing such things. And they are playing it around the major correction levels. So this H&S pattern is IMPORTANT. Invalidation crazy bullish. Confirmation crazy bearish.

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If you wanna be conservative about your bearish target, 0.54 is the one.

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Looks like it's trying something. I think we are close to a decision here.

Trade active:
I am in. 1.057 entry. I'm not very passionate about this position. So just a ~2.5% stop loss.
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Stopped :D I am holding very little part of the short. Will close all ~1.185.
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12h close above this is good enough invalidation signal for me. Invalidating h&s should be bullish. No point in searching for the next bearish setup after that. Big bearish setup invalidation should mean big bullish intention.
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Next target is easily 1.47 in that case.
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Well, you should show us strength MATIC. Why would you get rejected there if you were so bullish to break a massive bearish setup?
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Ok let's go then.

Comment:
Will the range hold or was it just a big noise?

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