$VET - Extended V Bottom Reversal BULLISH (LONG) 1 Hour
1 Hour Chart Analysis
Entry - Current Price
Exit - $0.232505
Leverage - 10 x
Risk to Reward - 10 to 1
Extended V Bottoms: Identification Guidelines
Downtrend -Look for price to make a straight-line run downward with few or no pauses, often fitting inside a channel.
Reversal - Price at the bottom of the V will form a one-day reversal, island reversal, or tail, usually on heavy volume, perhaps gapping upward.
Trendline - After the reversal, price pierces a down-sloping trendline drawn along the price tops, confirming the trend change.
Uptrend - Price trends up, usually at the mirror angle of the downtrend. If price dropped by 30 degrees, price will rise following a similar angle.
Extension The extended V bottom is a variation on the V bottom. After price reverses at the bottom, price forms a flag or pennant pattern – a sideways price move that often swings downward against the prevailing upward price trend. Once the flag completes, price resumes the rise.
$VET Looking Juicy, with a extended V bottom Reversal at play on the 1 hour.
Targeting the daily order block resistance for a very juicy risk to reward!
Best of luck and may the gains be with us
Entry - Current Price
Exit - $0.232505
Leverage - 10 x
Risk to Reward - 10 to 1
Extended V Bottoms: Identification Guidelines
Downtrend -Look for price to make a straight-line run downward with few or no pauses, often fitting inside a channel.
Reversal - Price at the bottom of the V will form a one-day reversal, island reversal, or tail, usually on heavy volume, perhaps gapping upward.
Trendline - After the reversal, price pierces a down-sloping trendline drawn along the price tops, confirming the trend change.
Uptrend - Price trends up, usually at the mirror angle of the downtrend. If price dropped by 30 degrees, price will rise following a similar angle.
Extension The extended V bottom is a variation on the V bottom. After price reverses at the bottom, price forms a flag or pennant pattern – a sideways price move that often swings downward against the prevailing upward price trend. Once the flag completes, price resumes the rise.
$VET Looking Juicy, with a extended V bottom Reversal at play on the 1 hour.
Targeting the daily order block resistance for a very juicy risk to reward!
Best of luck and may the gains be with us
Trade closed: stop reached
420Fam