Chances are that the double rounded bottom (aka Eve & Eve) pattern is completed in the daily candle chart. Remember we need a breakout over the central peak (245.46$) dividing the two bottoms. If this happen, we can go long (entry 1 in the chart) or we can wait for a possible reject at the 50 EMA and support retest over the trend line to go long (entry 2). Or we...
Earlier, an announcement of US actual inflation numbers higher than forecasted led us to a red painted day for the markets, but we may well see now a short retrace to higher levels, retesting the dashed line in the chart, which would be a decent TP for a improvised small trade. Wouldn't deploy much capital on this, but still it may worth risking some bucks.
BINANCE:SOLUSDTPERP
If price breaks below 50EMA it may get down to test support in the area around green box, which could be a good long entry for a possible move up to test upper limit of the channel. We may set TP at
TP1 41$
TP2 42,25$
SL would be around 38,61$
depending on the risk you are willing to take.
This is not a big trade, just a long position idea...
Price action which have been forming a symmetric triangle BINANCE:AUDIOUSDT is about to get into a "decision zone", where we will probably see a significant move. Since we are in a bull market, chances are that we get an upwards one, but we will have to wait for the initial move and then wait for further confirmation.
In case we have a confirmed upwards...
This beautifully symmetric waves inside an ascending triangle / narrowing channel are quite promising, and if this setup plays out, we could have here two nice entry options for long, either in A or in B just in case you want to wait for an upwards breakout & confirmation.
We have to be aware that both RSI and MACD are showing bearish divergence though, so we have...
Symmetric triangles are a well known pattern, in which price forms lower highs and higher lows following two sloping trend lines that eventually intersect.
According to Bulkowski identification guidelines, we should be looking for
-duration of 3 weeks minimum
-volume decreasing throughout formation
-price touching both sides of the formation boundaries several...
