SHIB🐕 breaking out once again? 3
Updated
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This is a follow-up to my last SHIB idea which ended on stoploss by fakeout in the end.
The setup has been revised. Price is still consolidating around the cyan channel upper edge now just in form of bigger symmetrical triangle (which is usually continuation pattern).
It seems to me that Shiba Inu could be ready to break up this triangle📐 and IF successful I think there is chance for run to 0.00001386. I'm setting the BUY STOP-LIMIT order to recent range high anticipating the triangle breakout. If you would like to see SHIB pumping, just smash the 🚀 button! 😀
Please boost🚀, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
This is a follow-up to my last SHIB idea which ended on stoploss by fakeout in the end.
The setup has been revised. Price is still consolidating around the cyan channel upper edge now just in form of bigger symmetrical triangle (which is usually continuation pattern).
It seems to me that Shiba Inu could be ready to break up this triangle📐 and IF successful I think there is chance for run to 0.00001386. I'm setting the BUY STOP-LIMIT order to recent range high anticipating the triangle breakout. If you would like to see SHIB pumping, just smash the 🚀 button! 😀
- ENTRY: local high @ 0.00001233
- STOPLOSS (SL): local low @ 0.00001112
- TARGET (TP): height of the triangle projected from midpoint of the local range (BUY STOP-LIMIT - SL) @ 0.00001386
- REWARD RISK RATIO (RRR): 1.25
- INVALIDATION: when SL level hit
Please boost🚀, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Trade active
Order filled ✔️Trade closed: target reached
She did that again! 🦴Note
After reaching the target and then some, price dropped down to the Triangle upper edge to backtest it. There is also midpoint of the local range @ 1173, both creating support cluster. SHIB bounced up and I think it's going up to the target @ 1386 once again.Note
Yep ... just reached the target again as expected:Note
And after reaching the target SHIB been hammered ... almost -10%. No indicators, pure price action.Note
Target acting as resistance once again. I think that next visit would result in breakout to the upside.
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