NANO/USDT Break-Out On The Horizon

16 בינו׳ 2021

NANO/USDT has formed a massive pennant over the last two weeks. At the moment, the price is at the verge of breaking out on the upside.
To trade this set-up, most conservative would be to wait for the price to close above or below the yellow Confirmation lines (C) and trade that particular direction. A close on higher time frames is more indicative.

Also, I've marked a couple of resistances and supports on the chart, in case the price breaks out in that particular direction. Both R1/R2 and S1/S2 are based at recent highs and lows.