$BTG #BTGBTC Triple Valley Structure - Day Trader Explains
Updated
Hello everyone,
BTGBTC looks pretty juicy for a quick trade for me. I just saw that we had a triple valley pattern, its breakout and this breakout is now on a retrace of 61.8% and basically getting ready to make a push.
The triple valley continuation pattern is a bullish pattern, creating three touches on the uptrend line and touching a horizontal resistance while so. The breakout is then after the third valley is completed and a buy opportunity evolves after the break of the horizontal resistance. After the horizontal resistance has now turned into a support, it gets ready for a second push and new market structure.
The trade here would be
BTG/BTC Binance
Buy at 4140
Stagger 1 -> 4100
Stagger 2 -> 4050
Long Term TPs
TP1 -> 4543
TP2 -> 5743
TP3 -> 6546
Stop Loss -> 4025
Cheers TJ
BTGBTC looks pretty juicy for a quick trade for me. I just saw that we had a triple valley pattern, its breakout and this breakout is now on a retrace of 61.8% and basically getting ready to make a push.
The triple valley continuation pattern is a bullish pattern, creating three touches on the uptrend line and touching a horizontal resistance while so. The breakout is then after the third valley is completed and a buy opportunity evolves after the break of the horizontal resistance. After the horizontal resistance has now turned into a support, it gets ready for a second push and new market structure.
The trade here would be
BTG/BTC Binance
Buy at 4140
Stagger 1 -> 4100
Stagger 2 -> 4050
Long Term TPs
TP1 -> 4543
TP2 -> 5743
TP3 -> 6546
Stop Loss -> 4025
Cheers TJ
Note
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Cheers, TJ
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