MATICUSDT
1H trend chart
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MATIC has been consolidating since hitting 2.2243 on 10/29
There is an inverse head and shoulders in the lower part of the chart.
Also, a trend line is resisting price.
So, there are 2 entry timing for conservative and aggressive traders, respectivly.
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Conservative way
=>Confirm a solid candle break through 1.9702 which is neckline of HS pattern.
Aggressive way
=>Open position after breaking out the trend line w/o wicks top.
Both are following the same trading strategy, as below.
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Profit Targets:
a) 2.2243----Fib(1)
b) 2.4052~2.4784----Fib(1.272~1.382)
c) 2.6354----Fib(2)
Stop losses:
a) 1.7918-----Red horizontal ray
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Add a new triangle pattern in chart and TP/SL are keeping origin.