Graphic Analysis


1. Formation and Trend:


• The chart shows a symmetrical triangle formation, which usually indicates a squeeze followed by a strong move.


• As the apex of the triangle is approached, volatility decreases and the price becomes squeezed.


• If an upward breakout occurs, the price is likely to enter a strong uptrend.


2. Target and Prices:


• In case of an upward breakout, the target area is indicated on the chart at 2.39. This level is calculated by projecting upwards as much as the height of the triangle formation.


• The target is 2.39, which means a potential increase of approximately 150%.


3. Support and Resistance:


• Support levels: The 1.25 and 1.10 levels are strong support points as the lower band of the triangle and previous lows.


• Resistance levels: 1.60 and 1.80 levels are important resistances to be tested before the breakout. Above these levels, a movement towards the formation target of 2.39 can be expected.


4. Indicators:


• Volume: In volume analysis, a decreasing volume is seen as the apex of the triangle is approached. This is a classic triangle formation feature. A significant increase in volume should be expected during the breakout.


• RSI: If the RSI enters the overbought territory (above 70), there may be a possibility of correction. However, it does not seem to be in the oversold or overbought territory at the moment.


• MA (Moving Averages): Short-term MA (for example, 20-day MA) supports a move below and up in price.


5. Strategy and Recommendations:


• Wait for the Breakout: It is important to wait for the triangle formation to break upwards. Opening a trade before the breakout is confirmed can be risky.


• Watch Volume: There should be an increase in volume during the breakout. This will confirm that the breakout is reliable.


• Stop Loss: It may be appropriate to set your stop loss level below 1.25. This will protect the position when falling below the support level.


• Target: The first target may be at the 2.00 level, and the second target may be at the 2.39 level, which is the projection of the formation.


• Alternative Scenario: If a downward breakout occurs, there is a risk that the price will fall to 1.10. In this case, it will be necessary to follow new support levels.



This analysis should take into account general market conditions. Market conditions can change suddenly. It is important not to neglect risk management when implementing your strategy.