Analysis Overview:
Strong bullish trend observed on higher time frames.
A correction on the 1-hour chart has formed a descending channel.
Short-term correction seen on the 15-Min chart, presenting a symmetrical triangle.
Confirmation:
Symmetrical triangle confirmed with a breakout above its resistance.
Trade Setup:
Entry Price: Market price or breakout confirmation.
Target Price: 0.193 USDT.
Stop Loss: Positioned to mitigate risk, with consideration of H15 candle closure under the triangle's former resistance, now acting as support.
Rationale:
The grand time frames show a prevailing upward trend.
A correction in the form of a descending channel on the 4-hour chart.
Short-term consolidation within a symmetrical triangle on the 1-hour chart.
Execution:
Consider entering the trade upon a confirmed breakout of the symmetrical triangle.
Set a profit target at 0.193 USDT.
Implement a stop loss to manage risk, triggered by a 15-Min candle closing below the previous triangle resistance, now acting as support.
Strong bullish trend observed on higher time frames.
A correction on the 1-hour chart has formed a descending channel.
Short-term correction seen on the 15-Min chart, presenting a symmetrical triangle.
Confirmation:
Symmetrical triangle confirmed with a breakout above its resistance.
Trade Setup:
Entry Price: Market price or breakout confirmation.
Target Price: 0.193 USDT.
Stop Loss: Positioned to mitigate risk, with consideration of H15 candle closure under the triangle's former resistance, now acting as support.
Rationale:
The grand time frames show a prevailing upward trend.
A correction in the form of a descending channel on the 4-hour chart.
Short-term consolidation within a symmetrical triangle on the 1-hour chart.
Execution:
Consider entering the trade upon a confirmed breakout of the symmetrical triangle.
Set a profit target at 0.193 USDT.
Implement a stop loss to manage risk, triggered by a 15-Min candle closing below the previous triangle resistance, now acting as support.