DDOG 1H Descending TriangleDDOG migrated from a symmetrical triangle to a descending triangle. From a neutral pattern to a bearish pattern. This is a good time to take off long positions and take shorts with tight stop losses at prices above the triangle. Watch also the price action and how it reacts to the 21 EMA
0A3O trade ideas
Short Term Trade Setup for DDOGDDOG has been losing volume fast since its IPO. And that is very troublesome for this young pup.
Either way, a symmetrical triangle formed after the last rally, which i considered to be a 'deadcat' bounce because of the pitiful volume. This triangle formation does give merit that possibly a new high can be coming in over the next few weeks, but i am still leaning bearish. Whether you play bull or bear though, here are your stop losses
STOP @ 38
STOP @ 35
We should see the volatility come back in the very short, after the break of the triangle pattern