Polygon (MATIC): Reversal or more downside?
MATIC is forming a descending triangle—most likely a bearish continuation.
Wait for the breakout to be confirmed either above the upper line (reversal—long) or below the support line (breakdown—short) before entering this trade.
Any thoughts, please share with us!
-If you agree with this, like and share.
Cheers.
Wait for the breakout to be confirmed either above the upper line (reversal—long) or below the support line (breakdown—short) before entering this trade.
Any thoughts, please share with us!
-If you agree with this, like and share.
Cheers.
Comment:
Instead of a descending triangle, MATIC is forming a bearish pennant.
Comment:
Matic just broke out of the "descending" triangle. Price has broken the prior highs at $1.112. Wait for the pullback to see if price will be resisted or supported before taking a reversal trade. Reversal could take us back to $1.35, so absolutely worth keeping an eye on!
Trade active
Trade closed: target reached:
Target of $1.35 has been reached.
