The blue lines on the ACE/USDT 1h chart form a classic symmetrical triangle:
Upper blue line: Gently descending, connecting lower highs (resistance).
SYMMETRIC TRIANGLE PATTERN
Lower blue line: Ascending, connecting higher lows (support).
The two lines converge toward the right (apex area near the current price zone around ~0.187–0.190).
This is a neutral consolidation pattern (price compressing with lower highs + higher lows). It often resolves with a breakout in either direction; the poster is treating it as a short setup and waiting for a confirmed break (likely downward) before committing, with the given entry/SL/TP levels.
Chartscout
There’s also a steeper/vertical blue line dropping from the right side of the triangle area (common for projecting a measured-move target or marking a key level).
Note: Symmetrical triangles are neutral until the break + confirmation (volume, close beyond the line). False breaks are common near the apex, which matches the poster’s “wait for break & confirmation” comment.
#NFA #DYOR
Upper blue line: Gently descending, connecting lower highs (resistance).
SYMMETRIC TRIANGLE PATTERN
Lower blue line: Ascending, connecting higher lows (support).
The two lines converge toward the right (apex area near the current price zone around ~0.187–0.190).
This is a neutral consolidation pattern (price compressing with lower highs + higher lows). It often resolves with a breakout in either direction; the poster is treating it as a short setup and waiting for a confirmed break (likely downward) before committing, with the given entry/SL/TP levels.
Chartscout
There’s also a steeper/vertical blue line dropping from the right side of the triangle area (common for projecting a measured-move target or marking a key level).
Note: Symmetrical triangles are neutral until the break + confirmation (volume, close beyond the line). False breaks are common near the apex, which matches the poster’s “wait for break & confirmation” comment.
#NFA #DYOR