Kyber Network - The Ascending Triangle
The price movement of Kyber Network has created The Ascending Triangle Pattern and in this scenario this pattern is considered as continuation for the price action which is upwards.
MACD & RSI supports upward movement. The price has already breached resistance level few times and returned back inside the triangle leaving long wicks behind. It is important to wait for proper break out signal and that's why buy target should be set at or above of 0.000457 level which can be found at 1.272 Fib level. Stop order can be set at 0.00315 and The Symmetrical Triangle gives us target around 0.0006 level.
Before taking any trades, do your own research and measure your risks.
Educational Part:
How do you get target from this pattern?
Draw vertically a line from the highest point of the pattern next to the lowest point. The line we just draw gives us the length of the target. (Example in chart, purple lines)
Move this line to the break out point. Where the price has breached top line of the pattern. Where this line ends is giving pointers where the price might be heading to.
Trading Information for Kyber Network (KNC/BTC):
Buy: above Above 0.000457
Partial Profit Targets: 0.00053
Main Profit Target: 0.0006
Stop-loss: 0.000315
If you need any help with trading, recommendations or where to search basics just feel free to leave me DM in here or in my twitter. I try to respond ASAP! :)
Happy trading!
Things to Remember:
Yarr
MACD & RSI supports upward movement. The price has already breached resistance level few times and returned back inside the triangle leaving long wicks behind. It is important to wait for proper break out signal and that's why buy target should be set at or above of 0.000457 level which can be found at 1.272 Fib level. Stop order can be set at 0.00315 and The Symmetrical Triangle gives us target around 0.0006 level.
Before taking any trades, do your own research and measure your risks.
Educational Part:
How do you get target from this pattern?
Draw vertically a line from the highest point of the pattern next to the lowest point. The line we just draw gives us the length of the target. (Example in chart, purple lines)
Move this line to the break out point. Where the price has breached top line of the pattern. Where this line ends is giving pointers where the price might be heading to.
Trading Information for Kyber Network (KNC/BTC):
Buy: above Above 0.000457
Partial Profit Targets: 0.00053
Main Profit Target: 0.0006
Stop-loss: 0.000315
If you need any help with trading, recommendations or where to search basics just feel free to leave me DM in here or in my twitter. I try to respond ASAP! :)
Happy trading!
Things to Remember:
- Stop-loss orders are strongly recommended.
- Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
- Do your homework before investing.
Yarr
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