SHIB triangles breakout
Updated
I expect Shiba Inu to break up the small white triangle and then also the big yellow one. I think there is chance for run to 0.00001079 and even higher. Just run, SHIB, run! 🐕
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- ENTRY: local high @ 0.00000698
- SL: local low @ 0.00000604
- TARGET: height of the triangle projected from midpoint of the local range (BUY STOP-LIMIT - SL) @ 0.00001079
- RRR: 4
- INVALIDATION: when SL level hit
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Trade active
Order filledNote
SHIB followed my price projection really closely until the point of false breakout from the big yellow triangle, when the price collapsed instead of reaching the target. Below is revision of the chart. Upper edge of the yellow triangle has been redrawn. Currently we need to break out of the violet falling wedge, then I expect the price to surge. The whole original local range (BUY STOP-LIMIT - SL) and white trendlines should act as strong support holding the price. Let's see...🧐Note
Spilled deeper into the original local range, then strong rebound from it's midpoint (lime). SHIB is approaching the violet downtrendline, needs to break it.Note
Price broke the violet downtrendline finally! Possible retest of the entry level and white trendline, then up she goes? 🐕 Note
...she does! Good girl!Trade closed: stop reached
SL hit - what a spiller after breaking the white uptrendline. Whole market flushout.Note
Notice how the spill led to test of the violet falling wedge and it also tested triangle lower edge (yellow) with false breakdown. Then fired up hard. This long range looks like heavy accumulation which will result in new long uptrend.
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