SKL has been inside this pennant for a couple of weeks now. Looking at the general market direction of crypto, SKL has been lagging behind for a while now. This trade is based on both the bullish pennant and the fact that SKL hasn't seen much action in quite some time now.
On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs. Do your own due diligence.
Hey buddy, what would be the holding time you suggest for this one?
FieryTrading
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@actualHare83151, hey bro, I don't work with holding times etc so I can't really advise you there. I work with TP/SL. I'd suggest to exit the trade when you feel that the max has been reached.
HussainUzayr
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Ok, so for each signal you just put Tp/SL. I was trying to understand if you also consider a waiting time to see if the TP is reached within a time frame or just quit exit the trade. Thanks :)
FieryTrading
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@actualHare83151, Generally, my TPSL's are quite close. So with crypto being volatile as it is now, I never have to wait long for a target to be reached. Glad to help out🔥
caldooninvestment
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Symmetrical triangle in the game! Lets go up. Nice detail 🙌