CVX/USDT – Is the scenario repeating? Continuing to work.

16 Mac

The previous trading idea has played out with 3 out of 4 marked zones reached.

We saw a false breakout from the descending channel, followed by a pullback in line with the overall market—returning to the channel’s support zone.
I’ve noticed a potential formation of either a diamond pattern or an expanding triangle, but we’ll see how it plays out further.

Regarding declines and support zones:

• -10.71% drop to the support of the descending channel.
  
• -26.27% drop to the anticipated support of the expanding triangle.
  
• -50% drop, likely as a squeeze under extremely negative news.
  

Regarding growth and resistance zones:

• +65% rise to the resistance of the internal channel.
  
• +110% rise to the resistance of the external channel (and if a diamond pattern forms, then its boundary).
  
• +246% rise as a second attempt to break out of the descending channel.
  
• +440% rise as a potential realization of diamond pattern pricing (if it forms).
  

All of this should be factored into your trading strategy, even the less likely scenarios.
I'll share the execution of the previous trading idea in my TG. I've also marked it on the chart.

4 hari lalu

Nota

The price is moving within a tentatively assumed diamond pattern, showing a reaction from its lower support zone.
From the marked decline zone of -10,71%, a reversal occurred - currently at +100% from that zone.
Possible future movements are marked on the chart - you need to act based on the current situation.