Very small triangle pattern.
Updated
Very small triangle pattern.
Very small triangle pattern.
Entry price: 60770, target price: 60163, stop-loss: 60950.
It might test 60850 and then drop.
I haven't given up on the perspective below 60,000 yet, so I'm entering to maintain the short.
Alternatively, as a second perspective, if it goes above 61,000, it might reach the 0.382 point at 61,400 and then come down
I entered a short position to see if it will test above again as a double bottom after finding support at 60150, or if it will break through directly for a big short.
If it still goes to 61400 after hitting the stop loss, I plan to enter a short position, willing to sacrifice some of the previous profits.
Very small triangle pattern.
Entry price: 60770, target price: 60163, stop-loss: 60950.
It might test 60850 and then drop.
I haven't given up on the perspective below 60,000 yet, so I'm entering to maintain the short.
Alternatively, as a second perspective, if it goes above 61,000, it might reach the 0.382 point at 61,400 and then come down
I entered a short position to see if it will test above again as a double bottom after finding support at 60150, or if it will break through directly for a big short.
If it still goes to 61400 after hitting the stop loss, I plan to enter a short position, willing to sacrifice some of the previous profits.
Note
The triangle pattern has not yet been broken. I've increased the average cost to 60810 by buying more shorts, and adjusted the stop-loss to 61010.For future reference, the retest point of the triangle may go above broken price. However, since the stop loss should not be an any line but set at high point of the preceding triangle, so let's increase position gradually by making additional purchases.
Note
i am out.. i am going to buy short at 61400 and 61700Note
Reason for failure: When forming lines, do not consider any odd low points as the actual low points, but rather, view the lowest points in the time frame I am observing as the true lows. In that case, I could have identified a triangle pattern and bought at the breakout, but I hastily connected the midpoints and mistakenly perceived it as a triangle pattern.
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.