TWT forming a symmetrical triangle
Based on my TA, after the cup and handle pattern, TWT started forming a symmetrical triangle as shown on the weekly and daily charts.
and on the 4hr TF it formed a double bottom, and reached the target price which is $1.12 and then retraced back to the neckline,
my next move would be to wait for a confirmation 2-3 4hr candles closure above $1.12 -$1.14 then i would open a long position
SL: $0.844
TP1:$1.226
TP2:$1.328
TP3:$1.4219
TP4:$1.5860
failure to close above the mentioned levels and breaking the lower triangle line will result to a further decline in the price to 0.869 then 0.79 then 0.56 levels
what do you think of this trade?
and on the 4hr TF it formed a double bottom, and reached the target price which is $1.12 and then retraced back to the neckline,
my next move would be to wait for a confirmation 2-3 4hr candles closure above $1.12 -$1.14 then i would open a long position
SL: $0.844
TP1:$1.226
TP2:$1.328
TP3:$1.4219
TP4:$1.5860
failure to close above the mentioned levels and breaking the lower triangle line will result to a further decline in the price to 0.869 then 0.79 then 0.56 levels
what do you think of this trade?
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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.