Loving the setup on this one, trendsetters.
Black lines show the 'ascending triangle' pattern, which is widely regarded as a bullish setup.
What we are looking for, is a breakout above the horizontal black line, after which there is usually a pullback and then a sizeable move upwards.
I'm not saying it WILL happen, but I am saying it COULD happen. Most technical traders like to buy once the breakout occurs... but I prefer to buy on the dips within the triangle.
Of particular note today, was the fact that the price dipped below the 100EMA (thin green line) before reversing and going back up. This may indicate that punters are using the 100EMA to base decisions off.
GOOD LUCK BOIS
CHART FROM TRADINGVIEW.COM
Loving the setup on this one, trendsetters. Black lines show the...
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