Shiba Inu - SHIB/USD - Who knows?

But what a textbook pennant. Just lovely, really.

Here's hoping it breaks hard to the upside and completes a measured move. It's SHIB/USD, so it's best to wait for price action to confirm its intentions. This one breaks a lot of hearts. Patience.

Have fun and trade safe.

Kommentera:

Here's the flag updated with today's price action, as well as the measured move. There's a lot of resistance to the left that needs to be cleared before this is a buy, imo. I don't plan to buy until/unless price clears the top of the pennant. That's how much confirmation this will need, in order to be a high probability trade.

Kommentera:

This is exactly why you wait until price has cleared the top of the pennant before longing a risky asset like this, rather than buying the initial breakout and retest of the pennant.