RIZO Symmetrical Triangle (1D - Log)

12 de mai.

RIZOSOL_6NMICC.USD formed a symmetrical triangle, and a minor ascending triangle within it.
Log scale is needed despite the short timeframe considering the volatility.
Clear support and invalidation, with multiple TP targets.

Key Levels to Watch
• $0.000007: Local low. A break below the blue support trendline would invalidate the setup, with this horizontal level offering a more reliable invalidation point.
• $0.000010-$0.000012: Current resistance and minor ascending triangle upper boundary. Also an S/R dating back to August 2024. A break above it could be a good long trigger, aligning with the broader symmetrical triangle breakout scenario.
• $0.000025: High volume node, roughly aligned with the minor ascending triangle target.
• $0.000060: Local high from January 2025.
• $0.000150: ATH area, most likely strong resistance.

Until a confirmed breakout above $0.000012, RIZO remains in a compression phase and a no-trade zone for me.

14 de mai.

Nota

RIZO broke above the ascending triangle resistance and tested the symmetrical triangle upper boundary, before a brief pullback.
It is now retesting $0.000010-$0.000012 as support, worth watching it closely.

22 de mai.

Nota

RIZO might be about to break out of its symmetrical triangle.
A daily close above the $0.000013 local high would be my final confirmation.

23 de mai.

Trade ativo

RIZO breakout confirmed.