Hi Guys,
As you see BTC is making symmetric triangle and everyone is waiting clear breakout/breakdown.
"TO BE SIMPLE IS TO BE GREAT" By Emerson.
Most triangles result in a clear breakout and breakdown in the direction of the prior trend. So it has higher probability to go down.
Trade: Enter trades only when "Symmetric triangle" breakdowns are confirmed by price trading one or two ticks below the breakdown bar's low.
Target: Most "Symmetric triangles" result in 100% of the depth rise/fall of the entire triangle range in the direction of the breakout. Partial trade exit targets are set at 50% of the depth from the
trade entry.
Stop: Place a "stop" order above the first major swing high from the trend line for a short-setup.
Good Luck
As you see BTC is making symmetric triangle and everyone is waiting clear breakout/breakdown.
"TO BE SIMPLE IS TO BE GREAT" By Emerson.
Most triangles result in a clear breakout and breakdown in the direction of the prior trend. So it has higher probability to go down.
Trade: Enter trades only when "Symmetric triangle" breakdowns are confirmed by price trading one or two ticks below the breakdown bar's low.
Target: Most "Symmetric triangles" result in 100% of the depth rise/fall of the entire triangle range in the direction of the breakout. Partial trade exit targets are set at 50% of the depth from the
trade entry.
Stop: Place a "stop" order above the first major swing high from the trend line for a short-setup.
Good Luck