Inverted HS, double bottom, ascending triangle, everything about to break. It might consolidate a few more days within the triangle but looks very explosive.
I'm looking at 8h timeframe. There is potential double bottom formation which will be completed if USDT bounces from the current support level and breaks 8% neckline. W pattern target is mentioned on the chart. This is a scenario 1/ orange color/ with 25 % probability and at the same time if can lose the current support level and breaks down to the next support...
Yo traders,
EN looks bullish at the moment after forming a double bottom and presently in good upmove. Expecting to move slightly more till resistance and if the resistance holds will look for corrective down wave. Lets wait and watch how this turns out.
Please like and support and comment and share your ideas.
Thanks
Madtradex
Two possible long plans:
#1 If Gap up next Monday, it is V reversal:
Buy above 443 and below 455
Stop: 427
Target: 540
Risk/reward=28:85= 1:3
#2 If Price down to 370 to re-test the breakaway Gap, it might be double bottom:
if keep going down below 370, do not buy.
Confirmation entry: Buy above 380 and below 400
Stop: 350
Target: 600
...
We previously thought that price was still looking bearish. However after this DOUBLE BOTTOM formation and BREAKOUT and what is looking like the retest of the neckline CAN WE STILL THINK SO?. Now if price respects the "retesting rules" we could see it push up towards 0.68711 and even further to 0.68785 thus forming what will look like a HEAD and SHOULDER and if...
