Shib Inu "Horizontal Channel"BO

A trader may initiate a long position in Shib Inu with a 15-minute time frame, as the price action is forming an "Horizontal Channel" pattern. The entry point is targeted near the 0.3 Fib level at the structure break, with an expected swing high target of $0.00001378 and a protective stop loss set at the recent swing low of 0.00001304. The potential reward to risk ratio is 5.

Trade Setup

Pattern : "Horizontal Channel" Pattern
Time Frame : 15 Mins
Entry Fib Level: 0.00001316$
Target : 0.00001378$
Stop Loss : 0.00001304$
Risk Reward : 5