Picking up from where we left on our analysis on UNISWAP yesterday (linked below),
Price looks to have broken above the pennant whilst forming a bearish divergence in the process. Could be a short opportunity and will most likely be a fakeout until invalidated of course.
Trade Idea; Wait for price to close below resistance before going short. Enter with a stop-loss above rejection and target support of the pennant.
If you agree with this idea, pls leave a like as well as your thoughts in the comments section. As always, feedback is appreciated.
Trade active
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Hidden Bearish Divergence is confirmed and now the trade is in place.
Comment
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Took some profits at support
Trade closed: target reached
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Trade complete. Been a minute since an update, but turns out the trade was in our favour and the setup was indeed correct. Congrats if you took this trade.
let's see what happens