Tornado_Trading

COMPUSDT - Support and bullish divergences

Long
BINANCE:COMPUSDT   COMP / TetherUS

Comp has found a support around $127 and has hit that support two times and is now bouncing of.
This goes wish a llist of bullish divergences on the 4H Timframe, ending with a missing right shoulder divergence.

I expect after this divergence, at least a pull up to the +1 ATR on the 4H TF. Meaning a target of around 145.
Entry should be somewhere around 132-133

Stoploss is a bit below the level of support, 125.
I will exit around 145, and leave a third of the stack run with a trailing stoploss.


entry: 132-133
SL: 124.95
Target 1: 145 (2/3)
Target 2: 156
Comment:
2/3 was taken with profit @145.4

SL moved to entry level, so this one is a 100% certain profit.
Trade closed: target reached:
Closed the other 1/3 on the entry level, it is going nowhere now.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.