XTZUSDT Keeps convergence and time for entry!/Trading Strategy
Updated
XTZUSDT1H trend chart
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A strong support zone was formed from long-term neckline, and it really seems effective for price while falling.
Moreover, a downtrend line keeps price converging and gradually forms a triangle.
Now, direction is still unknown, but if the upper downtrend line can be broken out, trading strategy as below.
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Profit Targets:
a) 9.166----Fib(1)
b) 10.048~10.405----Fib(1.272~1.382)
c) 12.409-----Fib(2)
Stop losses:
a) 7.152----Red horizontal ray
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Note
Guys, this potential triangle pattern got destroyed while ETH plunged.
Also, the upper downtrend line of this presumable triangle hasn't been broken out,
so there is no timing to open position.
Let's wait for another pattern and chance.
Have a good day.
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