$mkrusdt falling wedges - 19.05.22
Updated
entry triggers:
entry: mkt price
sl: 1428
lev: 10x and below
Analysis
Price moving in converging channels. It can be one of the two structures, ending diagonals(1-5) or falling wedges(a-e). There is a clear wave count of 5 waves in already. The final wave has a truncation. For further reference check out my tutorial on ending diagonals, I explained everything there.
Trade safe and due diligence is advised as always!
- - 5 waves
- - falling wedges / ending diagonals
- - volume expansion
- - bullish divergence
- - breakout
entry: mkt price
sl: 1428
lev: 10x and below
- tp 1: 1454
- tp 2: 1482
- tp 3: 1504.5
- tp 4: 1527
- tp 5: 1559
- tp 6: 1600
Analysis
Price moving in converging channels. It can be one of the two structures, ending diagonals(1-5) or falling wedges(a-e). There is a clear wave count of 5 waves in already. The final wave has a truncation. For further reference check out my tutorial on ending diagonals, I explained everything there.
Trade safe and due diligence is advised as always!
Note
tp 1 hit, closed my position. might look for another entry. else I'm letting this one go, slow PA
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