============================== Quick Disclaimer: Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade. Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money. ==============================
We're watching the Horizontal Triangle breakout, either to the upside or downside.
The trend is now to the upside, so the probability of this triangle breaking to the upside should be higher.
But never disregard the possibility of this going south either.
This story could play out like this chart of BITCOIN back in its early years. So just be aware.
Downside price action could bring SHIB back to 2400.
So, if this triangle breaks to the upside where is SHIB going to?
Look at the October 2021 Horizontal Triangle breakout. Should SHIB replicate this then we might see another moonshot!
SHIB must stay above the EMA Ribbon.
If SHIB breaks to the upside, this will be EPIC!
SHIB 1Day Chart:
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art. Develop an intuition and listen to your instinct while following the rules putting emotions aside. If you have not yet developed it, you will develop this as long as you stay consistent with following the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle. Soon it will be your subconscious running your trades, again, much like when riding a bicycle the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
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@search26898, Thank you! More power to all your trades, my friend!
namv2008
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It looks like it’s rolling over … macd wants to cross over to the down side. On the 4 hour… the daily shows that bull flag everyone talking about but lose that 2894 fib then it was a fake out
RSibayan
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@namv2008, Yup, it was an upside breakout fakeout, stops-hunting, overthrow.
namv2008
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@RSibayan, yah it was a good risk reward though . The technical was spot on ….it be interesting if we get a double bottom at that .00002 support or we continue lower… that seems to be the overarching theme of this chart
namv2008
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Wow nailed that one let’s see what happens here bounce or break