Long
Po.et Diamond Bottom: Breakout is imminent
Po.et (as almost all crypto) is on the corner ot diamond bottom breakout. This can be on the either way. If this is the case, I would like to recommend you using a tight stop-loss strategy. The calculations below sugget theoretical use of price targets in the case of diamond bottom breakout for the upward or downward scenarios.
Highest Peak of Diamond Pattern: 172 sts
Lowest Valley of Diamond Pattern: 120 sts
Diamond Bottom (min.) Upward Breakout Price Target: (172-120)*0.8 = 42 sts + breakout price = ~ 195 sts
Diamond Bottom (min.) Downward Breakout Price Target: breakout price - ((172-120)*0.6 = 32 sts) = ~ 110 sts
Highest Peak of Diamond Pattern: 172 sts
Lowest Valley of Diamond Pattern: 120 sts
Diamond Bottom (min.) Upward Breakout Price Target: (172-120)*0.8 = 42 sts + breakout price = ~ 195 sts
Diamond Bottom (min.) Downward Breakout Price Target: breakout price - ((172-120)*0.6 = 32 sts) = ~ 110 sts
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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.