Long
NANO long
A symetrical triangle formation. If support hold I would long until the upper resistance wall is reached for R:R ratio 2:1. Furthermore, symetrical triangles usually are broken to the upside as a bullish continuation pattern. If so, it might cause a strong inpulse which equals to the distance show as a white arrow. It would give us astonishing 7:1 R:R ratio in a middle term hold.
If it breaks lower support wall, I would place stop/loss somewhere in the previous horizontal support zone. It also complies with a 200EMA support on a 4h timeframe.
Good luck traders.
If it breaks lower support wall, I would place stop/loss somewhere in the previous horizontal support zone. It also complies with a 200EMA support on a 4h timeframe.
Good luck traders.
Note
First target reached, time to take some profits.We can rise our stop/loss just below the trend line resistance (which became a support) and go for the next target.
Good luck
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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.