Hey everyone!
After a long consolidation, I can't see this pair ranging for much longer without an expansion move soon.
Previously this was a pair already on the radar and provided a failed upside setup however it just keeps bouncing from maxima to minima of the range and now buyers and sellers are left to make an impulsive decision.
The bias is upside specially being a fresh coin that makes it easier to move into price discovery and activate the FOMO's.
Risk-Reward-Ratio (RRR) is taken from zooming into smaller timeframes and taking the last break of a daily high as seen here as our entry trigger.
At the same time, to reduce getting shaken out on volatilite moves, the stop loss is set in a classical manner - at the patterns valid 3L point.
Let's see how this one goes!
Take care,
Vlad The Crypto Trader
After a long consolidation, I can't see this pair ranging for much longer without an expansion move soon.
Previously this was a pair already on the radar and provided a failed upside setup however it just keeps bouncing from maxima to minima of the range and now buyers and sellers are left to make an impulsive decision.
The bias is upside specially being a fresh coin that makes it easier to move into price discovery and activate the FOMO's.
Risk-Reward-Ratio (RRR) is taken from zooming into smaller timeframes and taking the last break of a daily high as seen here as our entry trigger.
At the same time, to reduce getting shaken out on volatilite moves, the stop loss is set in a classical manner - at the patterns valid 3L point.
Let's see how this one goes!
Take care,
Vlad The Crypto Trader
Comment:
Still consolidating - trading idea still valid
Trade active:
Time to pay attention