1) Currently in a short term uptrend as it broke out of it's long term support level. All Ichi signals are in an uptrend in the 4H timeframe but I am using the 12H for this setup
2) Price is consolidating in a flag pattern along with volume descending meaning that this is a typical volume profile for a flag
3) Price must break through the resistance of the flag with profound localized volume in order to make it a valid flag pattern
4) If price breaks the flag I will be looking to enter on a breakout, and for conservative traders a retest of the flag resistance turned support could be a nice entry as well
5) Target would be the green box around .0016 sats as that is the length of the flag pole extrapolated from the breakout point. This area also coincides with a previous resistance so it would be a great spot to take profits.
Not financial advice. DYOR.
2) Price is consolidating in a flag pattern along with volume descending meaning that this is a typical volume profile for a flag
3) Price must break through the resistance of the flag with profound localized volume in order to make it a valid flag pattern
4) If price breaks the flag I will be looking to enter on a breakout, and for conservative traders a retest of the flag resistance turned support could be a nice entry as well
5) Target would be the green box around .0016 sats as that is the length of the flag pole extrapolated from the breakout point. This area also coincides with a previous resistance so it would be a great spot to take profits.
Not financial advice. DYOR.
Comment:
Went to target perfectly, missed some profit but taking profit is always best and have a plan in place before you take a trade.