$mkrusdt falling wedges - 19.05.22

19 May 2022

entry triggers:

• - 5 waves
  
• - falling wedges / ending diagonals
  
• - volume expansion
  
• - bullish divergence
  
• - breakout
  

entry: mkt price
sl: 1428
lev: 10x and below

• tp 1: 1454
  
• tp 2: 1482
  
• tp 3: 1504.5
  
• tp 4: 1527
  
• tp 5: 1559
  
• tp 6: 1600
  

Analysis
Price moving in converging channels. It can be one of the two structures, ending diagonals(1-5) or falling wedges(a-e). There is a clear wave count of 5 waves in already. The final wave has a truncation. For further reference check out my tutorial on ending diagonals, I explained everything there.

Trade safe and due diligence is advised as always!

20 May 2022

Not

tp 1 hit, closed my position. might look for another entry. else I'm letting this one go, slow PA