We have price breakout from falling wedge formation. In addition to this, the re-test has been done with price accumulating for next major move.
Longing the coin from the Buy Zone will not be a bad idea with specify stop loss inplace.
If you are leverage trader then go with aggressive stop loss and spot trader can hold with conservative stop loss value.
As short term comp can go as follows
Entry zone: 156 - 157-158
Target 1: 165.4
Target 2: 171
Target 3: 178
Target 4: 183
Target 5: 186
Target 6: 189
Target 7: 192
if comp cross 189 resistance then it can go up to 210-220.
take your own decision and trade.
Price of the COMP is on the possible breakout from Wedge pattern.
Price can increase for the several levels inside range of 220 and 180.
Pls, do not forget price of the COMP is quite high, and recently it increased from 60$ up to 380$
So i greatly advice to decrease risk in the trades which increased that much recently....
Compound is caught up in a descending channel , which is bullish in many cases, we may see an old support existing in another chart ( Tether Pair on Poloniex) around this low price range
Enjoy all the great opportunities !
Targets T1 and T2
This is not a financial advice. Always do your own research and always put stoploss in your trade (SL) :) If you want more detailed info how to study and read charts or just need help with some coin, just write to me here personal message, i will try to answer to everybody... i can help you :) all for free, don't worry, BE HAPPY!
If u like the analysis, please...
we just need to break through the cloud and i think we will form something close to this pattern. The RSI is almost back where we want it for an up swing, and with decreasing volume less trades are being made (more are holding) along with faster runups vs selloffs (selloffs are taking longer and longer while buying is happening faster and faster). CMF can confirm...