BitcoinLong
falling wedge breakout
Updated
Trading Tactic Explanation
-Measure rule: Prices should rise to the top of the formation, at a minimum.
-Buy after breakout: Since prices are trending down, it is best to wait for the
upside breakout before buying.
-Buy after throwback: If you miss the breakout and still want the stock, buy after a
throwback or add to your position after a throwback once
prices resume rising.
-Watch for dip: Twenty-seven percent of formations show a dip just before
the breakout. This is another reason to wait for the upside
breakout before buying.
long target 33400$
short target 29500$
-Measure rule: Prices should rise to the top of the formation, at a minimum.
-Buy after breakout: Since prices are trending down, it is best to wait for the
upside breakout before buying.
-Buy after throwback: If you miss the breakout and still want the stock, buy after a
throwback or add to your position after a throwback once
prices resume rising.
-Watch for dip: Twenty-seven percent of formations show a dip just before
the breakout. This is another reason to wait for the upside
breakout before buying.
long target 33400$
short target 29500$
Note
2° long target is 34850$
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