Trying to catch the short term bottom on this one. There are multi time frame confluences and a clear invalidation for 2.4R
I like this scalp because price is trading near invalidation. Diagonal supports aren't my favorite but I add as it goes closer to invalidation to have very high RR.
I am looking at places to buy the pull back. Will start filling at least a little bit but ideally get a straight forward trade set-up like this one so I don't have to ape market buy and pray.
I took these two longs at the same time. One on the 3m/15m and other on the 4H/1D.
Found a higher time frame long and noticed it also looked good for a scalp.
I love how clean the consolidation, breakout and retest all are. Daily chart works well too.
Sol broke out of the diagonal resistance that has been holding and in a down structure since beginning of July.
This is a HTF trade that still allows for a tight stop loss this good R/R.
KPOP is retesting support that has held all of 2023. Makes for good R/R with a tight stop loss.
The environment is very hard to trade right now. Altcoin longs depend on BTC.
Because of the way this is grinding at diagonal support looks like it was ready to continue dumping. Not financial advice.
Bouncing off of lower high diagonal support and breaking out of down trending diagonal resistance. Confluence of two diagonals. Higher low market structure.
Bouncing off of lower high diagonal support and breaking out of down trending diagonal resistance. Confluence of two diagonals. Higher low market structure.
Pretty straight forward trade. Great R/R buying so close to invalidation.
Pretty straight forward trade. Great R/R buying so close to invalidation.
I do not want to own alts right now but charts like this are tempting. I would use the widest stop possible which means a small position but still high RR.
This has been my go to ETH chart consisting of many areas of confluence, ranges, S/R lines etc.
Could still make a lower high so my TP is set very conservatively without the best RR. If AMEX:URA clears the resistance in the grey box I will look for more longs. I just added more to this trade and raising the stop loss so thought I will post the trade idea incase it offers more opportunities to enter.