Is world coin about to have a major breakout!?! WLDUSDTHello all of my tradingview friends! MAKE SURE YOU FOLLOW AND LIKE for more content!!!
Today i would like to share some technical analysis on worldcoin also known by the ticket WLD.
As we can see there is a pennant that has formed. This pennant has a measured move of +37%
bringing its price up to $3.17 which is where i will be closing my long position. At the bottom i have shared some ALPHA on likely areas to take profits!
KEY SUPPORT - $2.275
A Guide to Trading Bullish and Bearish Pennants
A bearish pennant is a technical trading pattern that indicates the impending continuation of a
downward price move. They're essentially the opposite to bullish pennants: instead of
consolidating after a move up, the market pauses on a significant move down.
BULLISH PENNANTS
Exercise great caution when trading bullish pennants. Research has shown that the success rate
is only 54%. Traders must be cautious when trading bull pennants. Published research reveals a
low success rate of 54% and a meager price increase of 7%.
How Reliable is a Bear Pennant?
Chart Pattern Success Rate Average Price Change
Bearish Pennant 54% +6%
Always trade using the 3 1 trading rule!
To increase your chances of profitability, you want to trade when you have the potential to
1make 3 times more than you are risking. If you give yourself a 3:1 reward-to-risk ratio, you
have a significantly greater chance of ending up profitable in the long run.
Resistance - $2.44
Resistance - $2.50
Resistance - $2.55
Resistance - $2.90
TOP - $3.17
THANKS LIQUIDMEX!
