This is a bit granular but I like the way the 4 hr
looks. This long trade setup is the coupe de gras on the symmetrical triangle break down. When our long-shot long failed from back on the 7th (see published chart
), it confirmed the short trade off the triangle. An aggressive entry would have been a candle close below the pattern on higher time frames. More conservative entries can be taken at our current level or at a break below the previous structure low. If price gets below that level, the final pattern target is a shoe-in.
It's also worth noting that we have an overlay of Bitcoin
price action (which I explain here
The T/P and buy
target is shown on the chart and spans the measured move from the opening of the pattern, as is typical.