Long
Polygon (MATIC) can start a big reversal from this support
Hi dear friends, hope you are well and welcome to the new update on Polygon (MATIC).
A wedge and triangle:
On a weekly time frame Matic has broken out an ascending triangle and now it is testing the previous resistance of the triangle as support, moreover, it is also testing support of a huge rising wedge pattern. There is also a support of exponential moving average 21 below the priceline. Therefore, there is a very high probability for price action to start a bullish reversal move from here. This expected move can be at least upto the resistance of the wedge which is approximately at $3.30.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
A wedge and triangle:
On a weekly time frame Matic has broken out an ascending triangle and now it is testing the previous resistance of the triangle as support, moreover, it is also testing support of a huge rising wedge pattern. There is also a support of exponential moving average 21 below the priceline. Therefore, there is a very high probability for price action to start a bullish reversal move from here. This expected move can be at least upto the resistance of the wedge which is approximately at $3.30.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.