Looking at a rejection at 0.435 and watching out for a bounce off the trend line, which will confirm the break out.
Trade at your own risk. All the best!
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We got rejected at 0.435, so looks to play out fine so far.
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It is ON! Looks like it didn't need that last trend support. RSI is now very stretched on the buy side, so looks like we will test the breakout line ($0.435) again. If successful, this is likely mooning! TP1 0.5, TP2 0.585
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Just saw a great post from @HeWhoMustNotBeNamed on fitting patterns ( and looking back at this, I now feel the ascending triangle had already ended at 0.435!
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Interesting playout on this. We had a fakeout, then a stop loss killer and THEN a breakout. Looks like the forces-behind (instuz) wanted to wash out the crowd before going guns blazing. Looking at 0.5 as first target.
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Amazing, first target acheived already! :D Looking at second target @ 0.585.
Trade closed: target reached
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That was it I guess. Now looking at a bearish pattern in play. Uptrend channel break from trend line support, with target of 0.295.
I don't trade short positions, so will watch this on sidelines and look to buy @ 0.295. See you there!
DYOR and TAOR.
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We are about there, so this aged very well! Will look at bullish divergence at 0.295 area for entering long.