Hook bounced nicely of the channel bottom, I'm expecting it to keep moving up from here with a potential TP target of $3 to test middle of channel on it's journey to $5 if it can break through the middle of channel. 🚀
Hi, dear traders. how are you ? Today we have a viewpoint to BUY/SELL the ICP symbol.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
As you can see, the first 5-wave Elliott Wave is forming in an ascending mini-channel.
To use this setup, I suggest that you enter into a buy trade ( long trade ) after the price hits the bottom of the upward channel and when the fifth Elliott wave forms.
Place the targets on the upper line of the channel or the end of the fifth wave
BINANCE:HOOKUSDT
✅ ✅ Risk...
HOOKUSDT 4H :
It broke the downward accumulation triangle it had been forming and now needs a strong buying impulse to reverse the bearish trend.
Its decisive support is at 1.8942 and to reverse the trend it needs to break 2.2176.
Following are the supports and resistances on the M45:
S1: 1.9315
S2: 1.8876
R1: 2.0013
R2: 2.0737
RSI with exhaustion of selling forces.
Hook price today is $2.7 with a 24 hour trading volume of 11 million dollar. HOOK price is up 17% in the last 24 hours as well
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HOOKUSDT 2H
Cumulative wedge formation. The indicatives have more than one proof of correction, not so strong, because it is already on the lower edge of the wedge.
We follow the supports and resistances not 2H:
Main support levels : 2.5459 / 2.3116
Main Resistance Levels : 3.0457 / 3.2956
MACD is neutral
RSI : SELLER
EMAs: Apontadas for baixo.
The promise...
HOOK/USDT trade setup:
Entry: $2.5 to $2.7
Stop Loss: $2.289
1st target: $3.03.
2nd target: $3.32.
3rd target: $3.63.
4th target: $4.03.
Note: Accumulate between the given entry and use SL. For this trade, you can use 5x to 10x leverage. DYOR before investing.
Trade safely.
Price is currently within the golden pocket and is being supported by the 50 day MA, two areas of confluence to support my theory that Hook could potentially stage a 2x from here. 🚀
NFA & DYOR - Thanks! 🤑
SPOT PLAY :
HOOK/USDT is showing a symmetrical triangle ( bullish if breaks to the upside and retested) in 4(Hourly) timeframe.(its recommended to BUILD position according to given buying zones).
STOP LOSS = mentioned in the chart itself
Take profits are mentioned in the chart itself. DYOR.
Always DO YOUR OWN RESEARCH before taking any trade or before...
