SHIBUSDT | Wave Analysis | Bull Wedge Diamond Breakout Position?
Wave Analysis combined with price action and chart pattern trading:
> A potential minor 1-wave descending triangle breakout scenario with ABC falling wedge retraced 0.786 fibonacci level
> After recent uptrend diamond breakout above SMA200, now assuming a possible upcoming bullish divergence FAKE BREAKDOWN minor 5-wave to complete the reversal pattern for downtrend A wave correction.
> If breakout +50% upside falling wedge target at downtrend triangle resistance.
> 2nd fakeout is always the 4 - wave correction position
> Long Entry after bullish divergence confirmation at the Wedge
Always trade with affordable risk and respect your stoploss,
Good Luck
> A potential minor 1-wave descending triangle breakout scenario with ABC falling wedge retraced 0.786 fibonacci level
> After recent uptrend diamond breakout above SMA200, now assuming a possible upcoming bullish divergence FAKE BREAKDOWN minor 5-wave to complete the reversal pattern for downtrend A wave correction.
> If breakout +50% upside falling wedge target at downtrend triangle resistance.
> 2nd fakeout is always the 4 - wave correction position
> Long Entry after bullish divergence confirmation at the Wedge
Always trade with affordable risk and respect your stoploss,
Good Luck