BTCUSD was forming a symmetrical triangle. By definiton of a symmetrical triangle, the chart should form LH and HL. The trend of an asset is defined depending on the breakout direction. A break above is bullish, a break below is bearish.
Yesterday the price broke above the triangle, which could indicate a bullish trend.
My trade setup:
I personally have targeted 8395USD, beacause BTC previously broke the support in that range. See chart for entry point and stop loss.
Manage your risk and good luck trading.
Regards,
Jamie
Yesterday the price broke above the triangle, which could indicate a bullish trend.
My trade setup:
I personally have targeted 8395USD, beacause BTC previously broke the support in that range. See chart for entry point and stop loss.
Manage your risk and good luck trading.
Regards,
Jamie
Trade active:
Opened long position
Comment:
I set the target a bit lower to 8210 USD.
Trade closed: target reached:
Closed long position