Shiba Inu seems to be ready to break up this triangle📐 and if successful I think there is chance for run to 0.00004120 and even higher. Will SHIB get it's bone?🦴🐕
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
- ENTRY: local high @ 0.00002787
- SL: local low @ 0.00002540
- TARGET: height of the triangle projected from midpoint of the local range (BUY STOP-LIMIT - SL) @ 0.00004120
- RRR: 5.4
- INVALIDATION: when SL level hit
Check my other stuff in related ideas.
Please like👍, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Trade active:
Order filled ✔️
Comment:
Running well. We need to break these 2 resistances (shown on chart below) to get to the target. 🦴
Comment:
SHIB's next try to break the resistance:
Comment:
Failed again, resistance still holding. Strong selling pressure. Will the orange uptrendline support the price and boost it higher?
Comment:
Going as expected. Orange uptrendline providing support while the resistance didn't allow price going higher. I think the price could break up through the resistance in a few hours.
Comment:
So SHIB broke down actually. Now needs to hold the support zone - previous local range high (BUY STOP-LIMIT blue), range midpoint (lime) and triangle lower edge (yellow uptrendline)
Comment:
The BUY STOP-LIMIT (entry point) holding quite well for now. Will we see sort of price action like this? 👇
Comment:
Bounced up to the red downtrendline and now is back down testing the yellow uptrendline. Will it hold?
Trade closed: stop reached:
SL hit. The yellow uptrendline didn't hold and SHIB got slammed. I'm out, but monitoring further. Will post new idea if I see anything.
Comment:
New idea down below, posting here bit late:
