Flamingo (FLM) - Wedge breakout

On the above 5-day chart price action has corrected over 95% since May 2021. A number of reasons now exist to consider a long position. They include:

1) Price action and RSI resistance breakouts.

2) Price action backtests past resistance as support.

3) Support and resistance. Price action confirms support on past resistance. (Orange horizontal line)

4) 2-day life cross. Don’t assume, verify.

5) Wedge breakout forecasts 12x return as measured from low to high wedge touch points (orange arrows).

Is it possible price action falls further? Sure.
Is it probable? No

Type: Trade
Risk: <=6%
Timeframe for long: Yes
Return: 2000%

Trade attivo:

Where ever you are in the world, have a look at the 10hr candle.