PHB Trade setup

Here's a quick look at the PHB 1 hr chart. As we can see, the price has been forming a bigger descending triangle and the best entry would be when the price breaks above the triangle.
-------------------------------------------
The idea is: Buy when the price breaks above the triangle and take profits at the levels shown in the chart.

Targets:

1. 1.47$
2. 1.6$
3. 1.75$
4. 1.85$
-------------------------------------------
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. three potential triangle variations 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!