Hello Traders,
Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it.
- Looking at how LRC is moving on the 1D time frame chart is tell us that the price is about to breakout from the upper trendline resistance with a decent amount of volume , price was accumulating for a decent time on
support level 0.3300$ - 0.3600$ which tell us that buyers have an interest to take the price higher towards the nearest strong resistance level 0.5200$-0.5600$ and progressively higher
- If buyers succeed to break the trendline then we might retest it and go from there , we can ride the breakout or wait until it's confirmed and take a long position from there with a suitable risk to reward ratio , please
manage to put your stop loss far from the market noise in order to avoid stop loss hunting.
- If buyers failed to breakout then we can have a small pullback towards old support level 0.3300$