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?🦴🐕
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.
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Trade active
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Order filled ✔️
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Running well. We need to break these 2 resistances (shown on chart below) to get to the target. 🦴
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SHIB's next try to break the resistance:
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Failed again, resistance still holding. Strong selling pressure. Will the orange uptrendline support the price and boost it higher?
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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.
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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)
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The BUY STOP-LIMIT (entry point) holding quite well for now. Will we see sort of price action like this? 👇
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Bounced up to the red downtrendline and now is back down testing the yellow uptrendline. Will it hold?
Trade closed: stop reached
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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.
thank you for sharing but i guess SHIB have lot 2 do 4 New High theres my vision about SHIB Stay awesome and wish the best
bizmark
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@ScalpTrader69, Thanks for your comment. Well the new high will require some effort from the buyers, sure, but this my chart setup being bullish for me until the SL is hit.
HesamUNT
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@bizmark, im sure u trading on ur Risk and reward mangmnt, wish the best and stay awesome
Googlesaur
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So great how you are updating your ideas like this, thank you for taking the time bro.
bizmark
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@Googlesaur, thanks bruh. I could actually post new "idea" with each and every update like this as some others do, but it doesn't make much sense to me. Cheers!