MATICUSDT - Points for entry of Potential C&H/Trading strategy
BYBIT:MATICUSDT
1H trend chart
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After an amazing soar before, MATIC is correcting and forming a Potential Cup and Handle pattern in 1H chart.
It has not yet formed, but I already set up 2 points for entry.
-
1. Break out the downtrend line
Once price can take out the trend line, the handle pattern is completed.
2. Stand firm at 1.6433
Due to a long upper shadow line from previous high(blue horizontal ray),I think this is the safest point to open position.
If buy as above timing, trading strategy as below.
-
Profit Targets:
a) 1.7544~1.7993----Fib(1.272~1.382)
b) 1.8957----Fib(1.618)
c) 2.0517----Fib(2)
Stop losses:
a) 1.4923----Red horizontal ray
-
If you like this analysis, give it a like and leave a comment below to share your thoughts
or let me know what crypto you want to see!
Trading is a reflection of yourself. Learn more daily and be ready for every opportunity.
Have a nice trading!
1H trend chart
-
After an amazing soar before, MATIC is correcting and forming a Potential Cup and Handle pattern in 1H chart.
It has not yet formed, but I already set up 2 points for entry.
-
1. Break out the downtrend line
Once price can take out the trend line, the handle pattern is completed.
2. Stand firm at 1.6433
Due to a long upper shadow line from previous high(blue horizontal ray),I think this is the safest point to open position.
If buy as above timing, trading strategy as below.
-
Profit Targets:
a) 1.7544~1.7993----Fib(1.272~1.382)
b) 1.8957----Fib(1.618)
c) 2.0517----Fib(2)
Stop losses:
a) 1.4923----Red horizontal ray
-
If you like this analysis, give it a like and leave a comment below to share your thoughts
or let me know what crypto you want to see!
Trading is a reflection of yourself. Learn more daily and be ready for every opportunity.
Have a nice trading!
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🌕Discussion group: t.me/rextalkcrypto
✨Bybit sign up: bybit.com/register?affiliate_id=12787&group_id=36093&group_type=1
💡Sign up through link
→Join Teaching Group for free!(PM me)
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