Get started
Tigerrrrrr

TELUSDT 2 Hour Chart

Long
Telcoin / Tether (KUCOIN:TELUSDT)  
Tigerrrrrr  
KUCOIN:TELUSDT   Telcoin / Tether
Support and Resistance Head and Shoulders Triangle
0
0
supportandresistance headandshoulders triangle
On high time frame (daily chart), TELUSDT formed a descending triangle.

Inside the descending triangle, there are a few pattern identify at the low time frame
  • Descending parallel channel
  • An invalidated ascending triangle
  • Inside a descending parallel channel, there is a inverse head & shoulder
  • PA dipped into the white rectangle level which I identified as a strong support level.

The pink dashed line is the resistance level that TEL has to reclaim.
The inverse head & shoulder had played out lead to the breakout of the descending parallel channel. Currently the PA is retest the descending parallel channel.

NFA
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.