0-5 triangle trade setup (sideways but range is getting tight)
-Yurlo
We've seen a 2 thousand dollar pump from $17,500 - $19,500 since the run at ATH on December 1st 2020, so what does this mean?
Pumping to new highs and entering price discovery won't be easy, if we dumped to $18,300 from this range it would still be a higher low and at support on the trend line. Lose that and we fall much lower, break this triangle to the upside and we're less than $500 from ATH's which we havent seen since 2017/2018.
If i was short I'd have a s/l just above ATH's and if i was long i'd have a s/l just below $19,000 which is local support.
Enjoy your day and have an amazing week, I'll post again on Friday.
Cheers friends 👍
We've seen a 2 thousand dollar pump from $17,500 - $19,500 since the run at ATH on December 1st 2020, so what does this mean?
Pumping to new highs and entering price discovery won't be easy, if we dumped to $18,300 from this range it would still be a higher low and at support on the trend line. Lose that and we fall much lower, break this triangle to the upside and we're less than $500 from ATH's which we havent seen since 2017/2018.
If i was short I'd have a s/l just above ATH's and if i was long i'd have a s/l just below $19,000 which is local support.
Enjoy your day and have an amazing week, I'll post again on Friday.
Cheers friends 👍
Trade active:
Invalidated if we hold above this level
