UNIBTC - Descison Time: Strong Trend Holding but will it?Hello Traders,
Yes, a confusing tagline. UNI is holding an upward trendline as of lately on multiple time frames.
We've formed somewhat of a symmetrical triangle. This can lead to two different options and consolidation I don't believe is one of them.
In the coming hours/ day we will see a strong movement to the downside or up. Being an optimist, I'll point to the upside but optimism has never moved markets. So, my second fallback is looking at the charts, reading market sentiment, and using price confirmations to make decisions.
As you see above, there is a green rectangle. The price is just below it. Once we see a break to the upside and a close holding above it, I will enter a long position. Choppy markets like this, will usually create opportunities for smaller gains but gains never the less. I'm shooting for 20% gains and I'm holding a very tight stop loss right below the bottom line of the triangle.
Good luck!
