Hey there.
SLP/USDT is hovering around 0.5 Fibonacci level and this triangle. With a break above resistance line, higher targets will be in sight, however, a break and close below the support line, recent gains might get completely wiped.
I rather to be predictive rather than reactive and based on that, I chose to open a long position and set a stop-loss below the support line rather than wait for a break above resistance line.
I hope you enjoyed this analysis.
What do you think about SLP/USDT? Let me know in comments section.
Cheers.
SLP/USDT is hovering around 0.5 Fibonacci level and this triangle. With a break above resistance line, higher targets will be in sight, however, a break and close below the support line, recent gains might get completely wiped.
I rather to be predictive rather than reactive and based on that, I chose to open a long position and set a stop-loss below the support line rather than wait for a break above resistance line.
I hope you enjoyed this analysis.
What do you think about SLP/USDT? Let me know in comments section.
Cheers.