ELF has now arrived at the upper part of the ascending triangle with great volume. We may enter the old Green channel in the upcoming days. (Spike catcher strategy recommended)
Past ELF VIP Trades 👇🏻
Jul 17, 2020
Good day everyone.
Today I'll be discussing on symmetrical triangle patterns.
How it looks, builds up, and plays out.
First of all, what is a symmetrical triangle?
A symmetrical triangle is a chart formation where the slope of the price’s highs and the slope of the price’s lows converge together to a point where it looks like a triangle.
- ELF/BTC has been consolidating in a symmetrical triangle pattern.
- Price is testing the symmetrical triangle's inclined resistance as expected from my previous analysis.
- There's a breakout potential.
BUY ENTRY ⬆️
- Market entry: current market price.
- Stop limit entry: breakout above the symmetrical triangle's inclined resistance.
- Limit entry:...
- ELF/BTC is consolidating in a symmetrical triangle pattern.
- Price is testing the symmetrical triangle's inclined support.
- There's an ongoing double bottom formation.
- A double bottom is a bullish reversal pattern.
BUY ENTRY ⬆️
- Aggressive entry: current market price.
- Conservative entry: breakout above the double bottom neckline...
We can see over 130% growth in the past week for ELFBTC.
Some people say this is too much growth and it "must retrace" now...
You know what I say?
Zoom out and look at it long-term!
ELFBTC is just coming out of a new All-Time Low, hit back in January, when I was saying that the altcoins would have multiple years of...
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