Here's a quick Look at GMT 2 hr chart . As we can see, the price has been forming a symmetrical triangle and a break to the upside could be around the corner. We need BTC to get stable before it is safe to trade.
The best entry would be, when the price breaks above symmetrical triangle with good amount of volume. Definitely one to keep an eye on.
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The idea is: Buy when the price breaks above the symmetrical triangle and take profits at the levels shown in the chart.
Targets:
1. 3.44$
2. 3.59$
3. 3.83$
4. 4.31
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What are triangles when it comes to trading?
Key points:
"1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape.
2. Triangles are similar to wedges and pennants and can be either a continuation pattern, if validated, or a powerful reversal pattern, in the event of failure.
3. There are three potential triangle variations that can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles."
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Follow me for daily profitable trading setups
BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
The best entry would be, when the price breaks above symmetrical triangle with good amount of volume. Definitely one to keep an eye on.
-------------------------------------------
The idea is: Buy when the price breaks above the symmetrical triangle and take profits at the levels shown in the chart.
Targets:
1. 3.44$
2. 3.59$
3. 3.83$
4. 4.31
-------------------------------------------
What are triangles when it comes to trading?
Key points:
"1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape.
2. Triangles are similar to wedges and pennants and can be either a continuation pattern, if validated, or a powerful reversal pattern, in the event of failure.
3. There are three potential triangle variations that can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles."
-------------------------------------------
If you like the content, then make sure to comment and like the post :D
Follow me for daily profitable trading setups
BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
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