Shiba Inu seems to be ready to break up this triangle📐 and if successful I think there is chance for run to 0.00004120 and even higher. Will SHIB get it's bone?🦴🐕
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- ENTRY: local high @ 0.00002787
- SL: local low @ 0.00002540
- TARGET: height of the triangle projected from midpoint of the local range (BUY STOP-LIMIT - SL) @ 0.00004120
- RRR: 5.4
- INVALIDATION: when SL level hit
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Trade active
Order filled ✔️Note
Running well. We need to break these 2 resistances (shown on chart below) to get to the target. 🦴Note
SHIB's next try to break the resistance:Note
Failed again, resistance still holding. Strong selling pressure. Will the orange uptrendline support the price and boost it higher?Note
Going as expected. Orange uptrendline providing support while the resistance didn't allow price going higher. I think the price could break up through the resistance in a few hours.Note
So SHIB broke down actually. Now needs to hold the support zone - previous local range high (BUY STOP-LIMIT blue), range midpoint (lime) and triangle lower edge (yellow uptrendline)Note
The BUY STOP-LIMIT (entry point) holding quite well for now. Will we see sort of price action like this? 👇Note
Bounced up to the red downtrendline and now is back down testing the yellow uptrendline. Will it hold?Trade closed: stop reached
SL hit. The yellow uptrendline didn't hold and SHIB got slammed. I'm out, but monitoring further. Will post new idea if I see anything.Note
New idea down below, posting here bit late: 
a
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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.