When analyzing the Grimace chart on the 1D timeframe, we can assume that the pattern of a cup with a handle is being drawn. We will also look at the zones from which the buyer has rebounded in the past. Thus we obtain the first three targets to which the price is drawn (marked on the chart). For the last target the height of the cup is taken and set aside from its top. Since this is a project with low capitalization -> very volatile, the stoploss is taken quite large.
Trade closed: target reached:
We can see that the rendering of the bowl has ended and there has been a return to ATH. Thus, the first three targets have already been reached and we got a significant profit. At the moment I have most of the position closed, and I will buy back some of the fixed position in case of correction to the area of 8.3-9.1.
