Here we see a bearish diagonal formation on Coti that has begun to break down (1hr). On a smaller timeframe we appear to have just broken down from a symmetric triangle formation (15min), further adding to the bearish bias.
Upon entry a target was devised using fibonacci retracement, aiming for the .382 of the move up. A stop loss placed inside the diagonal gives a 6/1 return/risk.
Upon entry a target was devised using fibonacci retracement, aiming for the .382 of the move up. A stop loss placed inside the diagonal gives a 6/1 return/risk.
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