RSR has been quiet for almost a month, it almost reached 0.1$ and then dumped, did a series of swings to create this symmetrical triangle.
I think symmetrical triangles are among the chart pattern that deliver the most so, if this is a bullish scenario like I think it is, the target will be reached pretty soon from the breakout. Right now indicators say it's still ranging, it's possible it'll do another leg down so to enter I suggest that you either wait the breakout or wait to see if it goes on the bottom of the triangle again.
A safe entry would be once it closes a candle over that resistance over the triangle. Use risk/reward chart to set your stop loss. During past weeks the purple zone worked as a mild support/resistance within the triangle.
I think symmetrical triangles are among the chart pattern that deliver the most so, if this is a bullish scenario like I think it is, the target will be reached pretty soon from the breakout. Right now indicators say it's still ranging, it's possible it'll do another leg down so to enter I suggest that you either wait the breakout or wait to see if it goes on the bottom of the triangle again.
A safe entry would be once it closes a candle over that resistance over the triangle. Use risk/reward chart to set your stop loss. During past weeks the purple zone worked as a mild support/resistance within the triangle.
Comment:
price broke out but it's not still over my resistance so I'm not sure about this if I don't see a candle over that dashed line! Anyway if you entered at my signal you're already +7%
Trade closed: target reached:
Target reached, short term can close the trade, long term (like me) can stay.... this will go up!