ARN: Descending Wedge
Updated
Have you ever find yourself entering a trade because you saw it went 50-100%. As soon as you're in, it starts dipping? Well the reason is because after a big run. The market needs to relax before it can pickup momentum again. When this happens, we enter a consolidation phase. Depending on the time frame. The consolidation can last really long. This is when your patience is put to the test. Do not buy at the top. Wait for a slight pull back in a form of a bullish formation: flags, triangles, holding support, etc. Then buy.
Currently we have a bullish breakout for ARN followed by a consolidation. It seems to be forming a descending triangle/wedge formation. A very common pattern in all markets. We will look to enter at leg E for a 100% potential earning. What are your thoughts?
Trade with care.
Currently we have a bullish breakout for ARN followed by a consolidation. It seems to be forming a descending triangle/wedge formation. A very common pattern in all markets. We will look to enter at leg E for a 100% potential earning. What are your thoughts?
Trade with care.
Note
Buy set at 27500 Sat.
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