The previous trading idea has played out with 3 out of 4 marked zones reached.
We saw a false breakout from the descending channel, followed by a pullback in line with the overall market—returning to the channel’s support zone.
I’ve noticed a potential formation of either a diamond pattern or an expanding triangle, but we’ll see how it plays out further.
Regarding declines and support zones:
Regarding growth and resistance zones:
All of this should be factored into your trading strategy, even the less likely scenarios.
I'll share the execution of the previous trading idea in my TG. I've also marked it on the chart.
We saw a false breakout from the descending channel, followed by a pullback in line with the overall market—returning to the channel’s support zone.
I’ve noticed a potential formation of either a diamond pattern or an expanding triangle, but we’ll see how it plays out further.
Regarding declines and support zones:
- -10.71% drop to the support of the descending channel.
- -26.27% drop to the anticipated support of the expanding triangle.
- -50% drop, likely as a squeeze under extremely negative news.
Regarding growth and resistance zones:
- +65% rise to the resistance of the internal channel.
- +110% rise to the resistance of the external channel (and if a diamond pattern forms, then its boundary).
- +246% rise as a second attempt to break out of the descending channel.
- +440% rise as a potential realization of diamond pattern pricing (if it forms).
All of this should be factored into your trading strategy, even the less likely scenarios.
I'll share the execution of the previous trading idea in my TG. I've also marked it on the chart.
Note
The price is moving within a tentatively assumed diamond pattern, showing a reaction from its lower support zone.
From the marked decline zone of -10,71%, a reversal occurred - currently at +100% from that zone.
Possible future movements are marked on the chart - you need to act based on the current situation.
Trade active
Since the publication of this trading idea, the price has gained +148% at its peak. This is a solid profit and should be protected in case the market decides to retest the boundary of the pattern that is currently breaking out.
The price has precisely held the support zone of the right side of the diamond. It's quite remarkable how the expected diamond pattern has formed exactly as I had previously outlined on the chart! ))
Telegram ✅ t.me/KECapital
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Telegram ✅ t.me/KECapital
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.