Short
Continue on uptrend?
Hi traders,
Matic has been on an uptrend for 155 days.
For shorter period of a time, It made a lower high. That shows we are currently in a downtrend. There is a strong support area shown in the chart.
You see my expectation, which is for price to form a rising triangle formation after breakout the support area and bounces back major uptrend. In that case, the entire market will decide if major uptrend wins against resistance area and a downtrend or vice versa.
The key levels are also indicated in the chart.
Stay safe traders^^.
Matic has been on an uptrend for 155 days.
For shorter period of a time, It made a lower high. That shows we are currently in a downtrend. There is a strong support area shown in the chart.
You see my expectation, which is for price to form a rising triangle formation after breakout the support area and bounces back major uptrend. In that case, the entire market will decide if major uptrend wins against resistance area and a downtrend or vice versa.
The key levels are also indicated in the chart.
Stay safe traders^^.
Trade active
It moves as expected. I have made two trade. The first is, when the support area has broken and there was a pull-back [SHORT]. The second is that when the price hit the trend line. To be honest, I was going to STOP-LOSS manually because of the wicks. However, I chose waiting for the candle closes. Fortunately, It was a right decision.
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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.