Channel breakout:
PEPE has just broken out a 40 days long resistance of a down channel.
Applying Divergence check on the breakout:
There is no bearish divergence therefore the breakout is valid but sofar, volume is low.
Inverse Head & Shoulder move:
There is another up trendline resistance of inverse Head & Shoulder pattern's neckline.
For safer side we can wait for priceline to breakout neckline of this head and shoulder.
Target for the channel's breakout is Target: $0.00000208
Stop loss can be below the recent swing low before the breakout, which is at $0.00000082.
Below is the view:
It is a high risk / high reward setup.
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.
PEPE has just broken out a 40 days long resistance of a down channel.
Applying Divergence check on the breakout:
There is no bearish divergence therefore the breakout is valid but sofar, volume is low.
Inverse Head & Shoulder move:
There is another up trendline resistance of inverse Head & Shoulder pattern's neckline.
For safer side we can wait for priceline to breakout neckline of this head and shoulder.
Target for the channel's breakout is Target: $0.00000208
Stop loss can be below the recent swing low before the breakout, which is at $0.00000082.
Below is the view:
It is a high risk / high reward setup.
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.
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.
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.