Avalanche (AVAX/USD) Long Breakout Setup – 200MA & Falling Wedge
This is a long (buy) setup for Avalanche (AVAX/USD), based on a potential breakout from a falling wedge pattern and the 200-period moving average (MA) on the 4-hour chart. The falling wedge is a bullish reversal pattern, and if the price breaks above the 200MA, it could confirm a strong uptrend.
Entry Point:
After a confirmed breakout above the falling wedge and the 200MA.
Stop Loss:
Below recent lows around $16.953, in case of a false breakout.
Take Profit Targets:
TP1: $27.016
TP2: $32.047
TP3: $36.240
TP4: $41.690
TP5: $45.044
TP6: $54.184
Trade Rationale:
The falling wedge is a bullish pattern, indicating potential for reversal.
If the price breaks above the 200MA, it suggests a trend shift to bullish momentum.
Multiple take-profit levels allow for scaling out profits as price progresses.
The risk-to-reward ratio is favorable, making this an attractive long setup.
Entry Point:
After a confirmed breakout above the falling wedge and the 200MA.
Stop Loss:
Below recent lows around $16.953, in case of a false breakout.
Take Profit Targets:
TP1: $27.016
TP2: $32.047
TP3: $36.240
TP4: $41.690
TP5: $45.044
TP6: $54.184
Trade Rationale:
The falling wedge is a bullish pattern, indicating potential for reversal.
If the price breaks above the 200MA, it suggests a trend shift to bullish momentum.
Multiple take-profit levels allow for scaling out profits as price progresses.
The risk-to-reward ratio is favorable, making this an attractive long setup.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.