KAVABtc...beautiful ascending triangle
Kava looks to be setting up for a breakout. Two ways to play it...
1) try to enter now keeping a stop under the support line that can be seen under the angle of the triangle (risky play as this could just start channeling although i dont think so
2) Wait until it breaks out of the pattern and get in on the retest of the resistance now turned support. Stop would be under a buy zone beneath the broken level and should be fairly tight. This is the safer way to play this pattern.
1) try to enter now keeping a stop under the support line that can be seen under the angle of the triangle (risky play as this could just start channeling although i dont think so
2) Wait until it breaks out of the pattern and get in on the retest of the resistance now turned support. Stop would be under a buy zone beneath the broken level and should be fairly tight. This is the safer way to play this pattern.
Comment:
So far so good. Broke through the resistance line of the triangle. Expect it to come down to retest the resistance now support followed by a push to the target.