XTZUSDT Keeps convergence and time for entry!/Trading Strategy

10. Okt. 2021

XTZUSDT
1H trend chart
-
A strong support zone was formed from long-term neckline, and it really seems effective for price while falling.
Moreover, a downtrend line keeps price converging and gradually forms a triangle.
Now, direction is still unknown, but if the upper downtrend line can be broken out, trading strategy as below.
-
Profit Targets:
a) 9.166----Fib(1)
b) 10.048~10.405----Fib(1.272~1.382)
c) 12.409-----Fib(2)

Stop losses:
a) 7.152----Red horizontal ray
-
If you like this analysis, give it a like and leave a comment below to share your perspective
or let me know what crypto you want to see!

Trading is a reflection of yourself. Learn more daily and be ready for every opportunity.
Have a nice trading!

11. Okt. 2021

Anmerkung

Guys, this potential triangle pattern got destroyed while ETH plunged.
Also, the upper downtrend line of this presumable triangle hasn't been broken out,
so there is no timing to open position.
Let's wait for another pattern and chance.
Have a good day.