COIN - breaking out of symmetrical triangle pattern
Updated
On a daily time frame as well as on the weekly time frame, COIN is breaking out of the symmetrical triangle pattern.
Earlier, COIN tried to break the upper trend line multiple times but couldn't close above the trendline on a daily closing basis.
On last Friday (07/19/2024), COIN closed above the trendline confirming the break out.
Plan for me:
I would be interested to go long in case we get a pull back to 255/250 area and COIN holding that levels.
Possible targets for me
Target 1 - 265
Target 2 - 275 and
ATH level test
Stop loss would be loss of 247 on a daily closing basis.
Something to keep a note of, COIN has ER on 02Aug2024.
PS: Point of entry for me depends on where we open on Monday in case we gap up
Earlier, COIN tried to break the upper trend line multiple times but couldn't close above the trendline on a daily closing basis.
On last Friday (07/19/2024), COIN closed above the trendline confirming the break out.
Plan for me:
I would be interested to go long in case we get a pull back to 255/250 area and COIN holding that levels.
Possible targets for me
Target 1 - 265
Target 2 - 275 and
ATH level test
Stop loss would be loss of 247 on a daily closing basis.
Something to keep a note of, COIN has ER on 02Aug2024.
PS: Point of entry for me depends on where we open on Monday in case we gap up
Trade active
was able to got in at today dip towards 255 and as expected we hit the first target 265. Sold half there to book some profits
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