Maker seems to be getting ready to break up this triangle 📐 and if successful I think there is chance for run to 4870 and even higher.⚡
ENTRY : local high @ 3667
SL : local low @ 3290
TARGET : height of the triangle projected from midpoint of the local range (BUY STOP-LMIT - SL) @ 4870
RRR : 3.25
INVALIDATION : when SL level hit
Like👍 & Enjoy🍿!
I have been a big fan of MKR USDT this year. The coin has had a pretty impressive run from $2500 up to $6300 as of recent. This last upsurge has lasted several days without any significant retest of key resistance / support levels. I am short term shorting MKR. Target prices are levels indicated with orange dashed line. Shorting hopefully down to the $5555 level...
MKRUSD looking real hot on the Heikin Ashi, making new highs.
I got in on the consolidation. If you missed it, I'd wait for a pullback on the 4HR or daily. For the noobs - ALWAYS trade with a stop loss. Especially on this as I feel it's a bit untested.
Agree / disagree? Lemme know! Educate me.
Here is a potential nice setup for a cradle trade on the 1 hrly.
It has all the ingredients so far.
Yes, it has a slight downward pressure for now, but that could be shallow.
Be careful as BTC can spoil many good setups if it drops.
If you don't know the check list for a cradle setup or strategy, you should learn it asap. Which I teach. Link...
in my previous post about Maker I had a tight stop loss hit taking me out of the trade... With a great bounce off the rising channel the graphs presented a great opportunity to grab a coin before be becomes out of reach.... 1 of a million... Not financial advice... Cheers!!