REQ in a big descending triangle - Wait for the breakout!

6 дек. 2021 г.

Here's a quick Look at REQ 2 hr chart. As we can see, the price has been forming a bigger descending triangle. The best entry would be, when the price breaks above the descending triangle with good amount of volume. Definitely one to keep an eye on.
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The idea is: Buy the breakout from the descending triangle and take profits at the levels shown in the chart.

Targets:

1. 0.72$
2. 0.82$
3. 0.98$
4. 1.09$
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What are triangles when it comes to trading?

Key points:
"1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape.

2. Triangles are similar to wedges and pennants and can be either a continuation pattern, if validated, or a powerful reversal pattern, in the event of failure.

3. There are three potential triangle variations that can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles."

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BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!