Long
$IPHI: Symmetrical Triangle - pullback on ema_50d
IPHI has been building up a nice symmetrical triangle lately. One way to play is to enter on a support - as a anticyclical trade with a favorable risk ratio.. This support was presented by bouncing off the ema_50d.The volume is contracting ever since which is a confirming aspect.
A possible trade might be:
Target zone: $ 130
Entry: $ 110
Stop: $ 105
What are your thoughts about it? Also in current setup.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.