FXSUSDT Pattern and Structure:
The chart shows a symmetrical triangle, a consolidation pattern formed by converging trendlines connecting the highs and lows.
Point A (lower trendline) is at a price of approximately 2.723 USDT.
Point B (upper trendline) is at approximately 1.831 USDT.
The triangle narrows as it moves toward point X, indicating decreasing volatility.
Key Levels:
Entry: Marked at 3.049 USDT, suggesting the price level where a trader might enter a long position.
DCA (Dollar-Cost Averaging): Noted at 2.892 USDT, a potential additional entry point if the price dips.
Stop Loss: Set at 2.548 USDT, below the lower trendline, to limit potential losses.
Possible Target: Indicated at 3.733 USDT, representing the projected upside based on the triangle's height (approximately 0.586 USDT from the base) added to the breakout point.
Measurements:
The height of the triangle at its widest point (between 0.586 USDT and 0.937 USDT) is used to estimate the target price.
The breakout is assumed to occur near point X, with the target calculated as the entry (3.049 USDT) plus the triangle height (0.684 USDT), aligning with the 3.733 USDT target.
Interpretation:
A breakout above the upper trendline (near 3.049 USDT) could signal a bullish move toward the 3.733 USDT target.
The stop loss at 2.548 USDT provides a risk management level below the triangle's support.
The DCA level at 2.892 USDT allows for averaging down if the price retraces.
Note
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✅MY Free Signals Telegram
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✅Personal Telegram (Premium)
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t.me/AltcoinPiooners
✅Personal Telegram (Premium)
t.me/Altcoin_Piooners
✅YouTube
youtube.com/@AltcoinPiooners
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.