RIOT at the bottom of a Huge Triangle
Updated
Hey guys,
RIOT seems to be on the brink of breaking either up or down. I will play the following scenarios as they unfold.
1. The price will bounce off the bottom and visit the upper line, -> tight stop loss.
2a. The price will break down once we see a strong crossing of the lower dashed line (red)
2b. The price will break to the upside with major volume once we see a strong crossing of the upper dashed line (green) which has acted as heavy support in the past.
No financial advice, just my personal opinion. I take these trades tho ;)
RIOT seems to be on the brink of breaking either up or down. I will play the following scenarios as they unfold.
1. The price will bounce off the bottom and visit the upper line, -> tight stop loss.
2a. The price will break down once we see a strong crossing of the lower dashed line (red)
2b. The price will break to the upside with major volume once we see a strong crossing of the upper dashed line (green) which has acted as heavy support in the past.
No financial advice, just my personal opinion. I take these trades tho ;)
Note
-Price bounced from lower triangle line-Price did not continue much upward movement on a decent breakout
-Will short a decent break of the red dashed line
Note
We crossed the lower dashed line (red) so I'm short. My S/L is going to be 50.51Note
Moved my stop to 45.12 -> Risk is at zero by nowNote
Will take half of my position off the table right here -> 39.45 since the price bounced last time we dipped into this area.
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