$RXD Symmetrical Triangle Breakout Attempt?
RXD
is testing the top of the symmetrical triangle for the 5th time since mid-May. Price action has broken the triangle, but I wouldn't see this confirmed unless price is above the triangle 24 hours from now (judging from previous failed breakouts). If confirmed, I see a target of $0.0038. If not confirmed, price could re-test the lower bound of the triangle before another attempt in the coming weeks.
Comment:
RXDUSDT
(www.tradingview.com/symbols/RXDUSDT/) did indeed breakout, and swiftly moved to $0.003 where it's consolidating a bit at a previous resistance/support. This should not last long, and upward momentum towards the target should continue. Note: there are no other resistance/support zones until $0.0044!
RXDUSDT
(www.tradingview.com/symbols/RXDUSDT/) did indeed breakout, and swiftly moved to $0.003 where it's consolidating a bit at a previous resistance/support. This should not last long, and upward momentum towards the target should continue. Note: there are no other resistance/support zones until $0.0044!
Trade closed: target reached:
Wow, that was quick! Target reached well ahead of schedule. If you set a limit order at the target specified, you would have perfectly executed the trade. The price has since re-tested the breakout, and I expect the target to be reached again.