MATICUSDT potential Inverse Head and Shoulders!/Trading strategy
BYBIT:MATICUSDT
1H tend chart
-
We could see a long-term support zone formed from the ceiling of a Darvas box.
Also, there is a downtrend line kept resisting price.
Now, price just broke out the upper downtrend line and took out the neckline of this potential inverse head and shoulders pattern.
It's a bullish signal and our trading strategy as below.
*can entry after confirming the candlestick still stand firm on the downtrend line in 4H chart
-
Profit Targets:
a) 1.3065----Fib(0.618)
b) 1.3598----Fib(1)
c)1.4459-----Fib(1.618)
Stop losses:
a) 1.1869----low of right shoulder
-
If you like this analysis, give it a like and leave a comment below to share your perspective
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 tend chart
-
We could see a long-term support zone formed from the ceiling of a Darvas box.
Also, there is a downtrend line kept resisting price.
Now, price just broke out the upper downtrend line and took out the neckline of this potential inverse head and shoulders pattern.
It's a bullish signal and our trading strategy as below.
*can entry after confirming the candlestick still stand firm on the downtrend line in 4H chart
-
Profit Targets:
a) 1.3065----Fib(0.618)
b) 1.3598----Fib(1)
c)1.4459-----Fib(1.618)
Stop losses:
a) 1.1869----low of right shoulder
-
If you like this analysis, give it a like and leave a comment below to share your perspective
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!
🌔Signal channel: t.me/tradingdiary_cat
🌕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)
🌕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)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.