Chart request - $CUDOS
$CUDOS has recently completed a Head and Shoulders (H&S) pattern and is currently consolidating around a critical horizontal resistance zone. Additionally, an ascending trendline support has been identified, adding another layer of significance to the current chart setup.
Potential Scenarios:
1. Breakout Scenario:
- If $CUDOS successfully breaks above the current resistance zone, it suggests a bullish momentum.
- Traders may consider entering a long position on the retest of the broken resistance as a confirmation of the breakout.
2. Rejection Scenario:
- In case $CUDOS faces rejection at the resistance zone, it might approach the ascending trendline support.
- A potential outcome could be the formation of an ascending triangle pattern, signaling a possible bullish continuation.
- Traders could look for a long position on the retest of the ascending trendline support, especially for scalp or day trading opportunities.
3. Ascending Triangle Breakout:
- If $CUDOS breaks out of the ascending triangle, it could lead to a more sustained bullish move.
- Consider opening a swing long position upon the breakout, looking for a sustained upward trend.
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