Polygon (MATIC): Reversal or more downside?
Updated
MATIC is forming a descending triangle—most likely a bearish continuation.
Wait for the breakout to be confirmed either above the upper line (reversal—long) or below the support line (breakdown—short) before entering this trade.
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Cheers.
Wait for the breakout to be confirmed either above the upper line (reversal—long) or below the support line (breakdown—short) before entering this trade.
Any thoughts, please share with us!
-If you agree with this, like and share.
Cheers.
Note
Instead of a descending triangle, MATIC is forming a bearish pennant.Note
Matic just broke out of the "descending" triangle. Price has broken the prior highs at $1.112. Wait for the pullback to see if price will be resisted or supported before taking a reversal trade. Reversal could take us back to $1.35, so absolutely worth keeping an eye on!Trade active
Trade closed: target reached
Target of $1.35 has been reached.
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