ANALYSIS 🔎
- YFIUSDT brokeout above the inverse head and shoulders neckline resistance and descending trendline resistance (DTR-1).
- The market then retraced for the retest of the neckline resistance, descending trendline resistance (DTR-1), key fibonacci retracement zone and ascending trendline support (ATS).
- The retracement was resisted by the descending trendline resistance (DTR-2).
- Price brokeout above the descending trendline resistance (DTR-2).
- This is a bullish signal.
BUY ENTRY ⬆️
- Conservative entry : breakout above the previous swing high resistance (R1).
- Aggressive entry : market price (now).
TARGETS 🎯
- Horizontal resistance level (R2).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending trendline support (ATS) and previous swing low support level.
- YFIUSDT brokeout above the inverse head and shoulders neckline resistance and descending trendline resistance (DTR-1).
- The market then retraced for the retest of the neckline resistance, descending trendline resistance (DTR-1), key fibonacci retracement zone and ascending trendline support (ATS).
- The retracement was resisted by the descending trendline resistance (DTR-2).
- Price brokeout above the descending trendline resistance (DTR-2).
- This is a bullish signal.
BUY ENTRY ⬆️
- Conservative entry : breakout above the previous swing high resistance (R1).
- Aggressive entry : market price (now).
TARGETS 🎯
- Horizontal resistance level (R2).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending trendline support (ATS) and previous swing low support level.