This technical analysis is based on the daily chart of
ANKRUSDT
on the Binance exchange. This analysis draws two price channels and evaluates support and resistance levels.
Price Channel Analysis:
Entry and Exit Points:
Conclusion:
This analysis suggests that by adhering to the specified take profit and stop loss levels, a successful trade can be achieved. The Reward/Risk Ratio for this trade is approximately 4.20, indicating a highly favorable risk-to-reward scenario. To manage risk effectively, it is recommended to strictly follow the stop loss level.
ANKRUSDT
on the Binance exchange. This analysis draws two price channels and evaluates support and resistance levels. Price Channel Analysis:
- The previous bearish channel is broken out, forming a bullish channel.
- The suggested entry point is around 0.04519 USDT.
Entry and Exit Points:
- Entry: 0.04519 USDT
- Take Profit: 0.06793 USDT (50.31%)
- Stop Loss: 0.03978 USDT (11.97%)
- R/R Ratio: 4.20
Conclusion:
This analysis suggests that by adhering to the specified take profit and stop loss levels, a successful trade can be achieved. The Reward/Risk Ratio for this trade is approximately 4.20, indicating a highly favorable risk-to-reward scenario. To manage risk effectively, it is recommended to strictly follow the stop loss level.
Trade closed: stop reached