This is almost a perfect textbook example of Elliot Waves inside of a symmetrical triangle/bullish pennant (whatever you want to call it, I don't know)
The price is getting squeezed inside of the formation and is going to be forced to make a move either up or down.
Given the previous uptrend which had its peak on 7th of April 2021, this is considered to be a...
- DATA is currently consolidating in the symmetrical triangle.
- After that, explosive move will folow.
- Bullish volume is higher and RSI is prepared.
- Profit target is 1.618 FIB extension.
- For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio (RRR) - please check my signature below ↓
- If you want...
DATA is poised to surge towards the end of August to the $0.19 and $0.26 zones or even higher in September. But if it loses the $0.13 zone, the $0.11 zone is still very reliable to buy in
🔴Buy : 0.127-0.133$. SL if B
🔴Sell : 0.186-0.194$. SL if A
🔴Sell : 0.254-0.266$. SL if A
🔵Buy : 0.107-0.113$. SL if B
🕯Timeframe : 1 Day