LINK / USD Formed an upward triangle. The price is in the corner. You don’t have to wait; soon everything is decided. In 90% of cases, the ascending triangle breaks up into growth. Designated a monitoring zone.
The potential for working out the figure is an ascending triangle + 44% Entrance on a breakthrough or on a rollback after a break, depending on who has the strategy.
Stop loss at your discretion, I do not use them, as I do not need them, I trade online with the changer. Often I knock down someone else's stop loss before the movements, as everyone exposes "as the book writes."
Who uses stop loss - not the size of stop loss is important, but the entry point! It is important that you, from your entry point, have a potential profit of at least 3 times more for a potential loss.
With the correct entry into the transaction, as a rule, the size of stop loss is equal to zero! This must always be achieved! With the correct entry and when the price goes in the direction that is profitable for you, be sure to move your stop loss for the price, but take into account the volatility of the asset so that your stop loss does not drop out prematurely.
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Notice how on the LINK / USD chart before the “Rising Triangle” pattern formed, the “Dragon” formation worked well. Read more about this figure and working with it in this educational trading idea: Dragon Figure. Formation. Structure. Target.
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EDUCATION Simultaneously Figures Inverted Dragon and Dragon
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There is a triangle breakthrough + 8%
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After breaking through the triangle + 8%, there is a rollback of the price to support (the former resistance of the triangle). If support is sustained you can enter. It is better to enter when the upward movement from support has already begun.
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The support of the triangle after breaking the triangle up did not hold. The triangle is broken. Support became resistance again.
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Important surveillance area. If support in the region of $ 2 is confirmed, there is a high probability of price growth in the zone of $ 2.50 + 25% Entrance only after confirmation of support on the volume.
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From the indicated zone + 11% there is volume. Potential to the previously indicated resistance zone.
Agree with you recent update, If I wasn't in it I'd be looking to enter on this support. We might see some sideways drift or a poke below, but if support and volume shows up it's game on!
SpartaBTC
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@MikeR66, + Yes you are right.
but always remember your permissible risks.
I trade this coin intraday. I'm watching now.
@SpartaBTC, I call it the do or die zone. Totally agree risk should be the 1st thing on your mind right now! Could be a good entry or breakdown, but BTC/USD seems to be holding the local downtrend. As long as they hold it, this could be a nice setup for the intraday guys like you for sure. Cheers!
SpartaBTC
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@MikeR66, +++
UnknownUnicorn3241100
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Loved seeing that wick to just above the trendline of the triangle and the move back up above the top boundary looks good so far. This trade is moving along nicely, just chill out for a little BTC and let our alts breathe! :thumbs_up: