Here's a quick Look at SHIB 2 hr chart. As we can see, the price has been forming a bigger bull pennant and we could see a break to the upside soon! Definitely one to keep an eye on. The best entry would be, when the price breaks above the bull pennant with good amount of volume . ------------------------------------------- The idea is: Buy the breakout from the bull pennant and take profits at the levels shown in the chart.
Targets:
- Profits can be taken in the resistance zone . 1. 0.0000284$ 2. 0.00003$ 3. 0.0000325$
------------------------------------------- What are triangles when it comes to trading?
Key points: "1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape.
2. Triangles are similar to wedges and pennants and can be either a continuation pattern, if validated, or a powerful reversal pattern, in the event of failure.
3. There are three potential triangle variations that can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles."
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