NOT A FINANCIAL ADVISOR!
This is a bit speculative as there are not many touchpoints forming this triangle...therefore the title says "Potential..."!
This chart shows 3 price actions ranges!
In terms of risk management, the stop loss would be @ a candle close below the triangle lower trendline (support).
The current downside would be around 80% to the lower price range!
Price action is at the triangle support. (Buy the support!!!)
A move to the upper range would target of a range between 9 - 12$!
Breaking the triangle upwards might mean 35$!
I am not yet seeing a bullish divergence on the RSI nor a RSI break.(both 4h nor 1D)
Therefore this might take some more time to play out. :)
This is a bit speculative as there are not many touchpoints forming this triangle...therefore the title says "Potential..."!
This chart shows 3 price actions ranges!
In terms of risk management, the stop loss would be @ a candle close below the triangle lower trendline (support).
The current downside would be around 80% to the lower price range!
Price action is at the triangle support. (Buy the support!!!)
A move to the upper range would target of a range between 9 - 12$!
Breaking the triangle upwards might mean 35$!
I am not yet seeing a bullish divergence on the RSI nor a RSI break.(both 4h nor 1D)
Therefore this might take some more time to play out. :)
