BINANCE:COMPUSDT Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it!
COMP is moving into a bullish pennant and so, As you know bullish pennant target is calculated by the flag's pole. Currently, We didn't experience the breakout yet and it has caused two scenarios for us :
- Take Long at the bottom of the pennant with an SL at $41 as active stop-loss on 4H TF.
- Take Long after a proper break above the marked resistance zone at $50.68.
The minimum target of the pennant is located at $70.10!
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I think that the range of possible price movements is not allocated quite correctly, it is worth checking them through the volume profile. But in general, I support the idea, the description is detailed, the technical analysis is qualitative. Thank you for your work!