SHIBDOGE poised to break out north again?
All trading charts form patterns that can be useful to recognize as they can lead to a trading opportunity.
The flag/pennant/wedge pattern is particularly common and usually very reliable.
Since I’ve been trading cryptocurrency its surprising how often we get flag patterns with crypto something that is not as evident in trading FX.
SHIBUDOGE is carving out a pennant/flag formation.
If history is our guide then this pattern will break out north and its always a safer bet to go LONG (BUY) cryptocurrency than go SHORT (SELL) as in general cryptocurrency is the train and BITCOIN is the engine and as BTC is headed up then it’s a wise play to only trade LONG positions in the anticipation that BTC will gain ground and take all the other crypto coins with it.
I’ll be looking for SHIB to break north and target WR1 over the next few days.
If we see price reach around .000179 this should be a decent LONG opportunity with a STOP under the 200 EMA at .000172.
Target is WR1 at .00020.
The flag/pennant/wedge pattern is particularly common and usually very reliable.
Since I’ve been trading cryptocurrency its surprising how often we get flag patterns with crypto something that is not as evident in trading FX.
SHIBUDOGE is carving out a pennant/flag formation.
If history is our guide then this pattern will break out north and its always a safer bet to go LONG (BUY) cryptocurrency than go SHORT (SELL) as in general cryptocurrency is the train and BITCOIN is the engine and as BTC is headed up then it’s a wise play to only trade LONG positions in the anticipation that BTC will gain ground and take all the other crypto coins with it.
I’ll be looking for SHIB to break north and target WR1 over the next few days.
If we see price reach around .000179 this should be a decent LONG opportunity with a STOP under the 200 EMA at .000172.
Target is WR1 at .00020.
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