UNIUSDT is currently testing the apex of a descending triangle pattern, with price compressing between a series of lower highs and a strong horizontal support near $7.13. This setup is a potential breakout trade in anticipation of bullish continuation.
Trade Details:
Position: Long
Entry: $7.137
Stop Loss: $6.724
Take Profit: $9.013
Pattern: Descending Triangle
Bias: Bullish Breakout
Setup Rationale:
Price has maintained key support despite downward pressure
A breakout above the descending trendline may trigger a bullish reversal
Volume likely to spike upon breakout confirmation
Risk-to-reward ratio is favorable if trade is executed at breakout with tight stop
Conclusion:
This is a breakout anticipation play. Should price break and close above the trendline resistance, it may initiate a strong upside rally toward the $9 region.
Trade Details:
Position: Long
Entry: $7.137
Stop Loss: $6.724
Take Profit: $9.013
Pattern: Descending Triangle
Bias: Bullish Breakout
Setup Rationale:
Price has maintained key support despite downward pressure
A breakout above the descending trendline may trigger a bullish reversal
Volume likely to spike upon breakout confirmation
Risk-to-reward ratio is favorable if trade is executed at breakout with tight stop
Conclusion:
This is a breakout anticipation play. Should price break and close above the trendline resistance, it may initiate a strong upside rally toward the $9 region.
Trade active
Move Stop LOSS to Entry. Free of Risk.
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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.
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.