🔥 FTM Triangle Pattern Complete: Strong Price Action Ahead

FTM has formed a nice triangle on the H1 chart. I'm aware that classical theory suggests that this is a bearish triangle, so a bearish break-out is to be expected. However, ADA is strongly correlated to the performance of Bitcoin, so it could go either way as far as I'm concerned. For that reason I've added two potential trades on this chart: a bullish and a bearish one.

Before entering the trade, wait till for the price to have either close above or below the entry line for a bullish or bearish case respectively.

I've marked several important areas for the trades. R1 and R2 are the resistance targets for the bullish case, S1 and S2 are the support targets for the bearish one.

Happy trading!

Kommentera:

* FTM is strongly related to Bitcoin