#COMP
The price is moving in a sideways channel on the 4-hour frame and we have a green support area at the 76 level
We have a higher stability moving average of 100
Now we have a nice breakout coming up
Our RSI indicator has a well reliable upward trend
Entry price is 90.00
The first goal is 99.30
The second goal is 107.27
The third goal is 118.37
Here is the trading range for COMP. This looks like accumulations to me. The arrow is the spring and the purple box is where the SOS should be. Price looks to be breaking out with upside target of 66 dollars in the short term.
Compound has been sideways and consolidating under 77.50 for a staggering 94 weekly bars(candles) which is equivalent to 651 days. COMP has wicked above 77.50 on the weekly time frame a few times but its been short lived. No weekly candle has closed above 77.50 in 651 days but our current weekly candle can potentially achieve it in 5 days.
If Compound starts to...
OBV is flat at the moment and hitting resistance.
If it can brak this, we can see movement towards 57-59.
59.5 is the next good resistance co-inciding with .618 Fib
Looks like a consolidating zone between 53-56
Hi Traders
COMPUSD (1H Timeframe)
The market is in a downtrend, and we are waiting for an entry signal to go SHORT below the 51.85 support level. Only the upward break of 53.50 would cancel the bearish scenario.
Trade details
Entry: 51.85
Stop loss: 53.50
Take profit 1: 50.83
Take profit 2: 49.18
Score: 8
Strategy: Bearish breakout
Hi Traders
COMPUSD (4H Timeframe)
Waiting for the downward break of 52.93 support level which will complete a bearish trend reversal pattern to go SHORT. Only the upward break of 60.00 would cancel the bearish scenario.
Trade details
Entry: 52.93
Stop loss: 60.00
Take profit 1: 48.57
Take profit 2: 41.61
Score: 7
Strategy: Bearish reversal
COMP currently showcases a triangle pattern in its daily chart, indicating a potential for volatility change.
The price action within the triangle suggests an upcoming bullish cycle, possibly leading to a breakout.
A successful breakout from this pattern could propel COMP's price to approximately $75.
Despite market fluctuations, COMP’s price movement has been...
Sometimes a chart itself shows us the right path and tells us to buy and be patient, but how much we trust it is the task of a trader. I show what I have done and I always weigh my tolerable loss before considering possible profit. It is a good option with respect to capital management.
Not financial advice.
Please like comment and follow
Simple pattern recognition
Play the swings
Up to 53-61.75 then down to 18.00-22.00?
If history repeats itself this would be the play.....
Hi Traders
COMPUSD (1H Timeframe)
Waiting for the upward break of 40.95 resistance level, which will complete a bullish trend reversal pattern to go LONG. Only the downward break of 38.99 would cancel the bullish scenario.
Trade details
Entry: 40.95
Stop loss: 38.99
Take profit 1: 42.17
Take profit 2: 44.16
Score: 5
Strategy: Bullish reversal
Hi Traders
COMPUSD (1H Timeframe)
The market is in a downtrend, and we are waiting for an entry signal to go SHORT below the 42.510 support level. Only the upward break of 45.550 would cancel the bearish scenario.
Trade details
Entry: 42.510
Stop loss: 45.550
Take profit 1: 40.640
Take profit 2: 37.600
Score: 6
Strategy: Bearish breakout
Got stopped out of my last position in COMP due to a trailing stop. Not mad tho. Ended up with 21% profit in the pockets. I hate to be out of this trade esp. since the MM's have been moving everything up during off hours. This bull flag here looks primed and prepped. Additionally, we have a hammer candle on the daily. Entry was 43.73. I'll target 58. SL will be 39...
