Symmetrical Triangle | ETH/USDT | 1D Chart
There seems to be a symmetrical triangle forming on on the ETHUSDT pair on the 1D Chart.
Potential Long Setup:
Entry: ~3500 (Wait for 1D Candle to close above the triangle and with good volume for confirmation)
Target Price (TP) 1: ~3850 ( Around the previous lower high's and below the previous resistance before the price drop)
Target Price (TP) 2: ~4000 (Previous resistance)
Stop Loss (SL): ~3400 (Slightly lower than the breakout wick)
Risk to Reward Ratio (R:R): 1:3.5
Notes:
Potential Long Setup:
Entry: ~3500 (Wait for 1D Candle to close above the triangle and with good volume for confirmation)
Target Price (TP) 1: ~3850 ( Around the previous lower high's and below the previous resistance before the price drop)
Target Price (TP) 2: ~4000 (Previous resistance)
Stop Loss (SL): ~3400 (Slightly lower than the breakout wick)
Risk to Reward Ratio (R:R): 1:3.5
Notes:
- Wait for 1D Candle close and volume confirmation.
- Keep Risk to Reward Ratio at least 1:3 or better.
- Keep trade size and leverage (if using) based on your risk tolerance and account.
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