BCHUSDT 1D long setup playing the ascending triangle pattern
TA Explained
BCHUSDT is building a huge ascending triangle pattern. Price just bounced on the bottom line showed support again and a bounce happened. There is a horizontal resistance area which is tested multiple times so far. Another attempt to break it would reach our first target. If it gets broken we can expect a big price rise towards the other targets.
SL is put well below the lower trendline to survive a fake out or a small/medium bearish move in the market.
SL is at 8.5% of the average entry so it advised not to use more than 3x leverage max. for ~25% risk on the position.
Trade setup
Best entries: 226.50 - 231.50
TP1: 270.00
TP2: 308.67
TP3: 345.94
SL: 209.50
RR: 6
Max leverage: 3x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
BCHUSDT is building a huge ascending triangle pattern. Price just bounced on the bottom line showed support again and a bounce happened. There is a horizontal resistance area which is tested multiple times so far. Another attempt to break it would reach our first target. If it gets broken we can expect a big price rise towards the other targets.
SL is put well below the lower trendline to survive a fake out or a small/medium bearish move in the market.
SL is at 8.5% of the average entry so it advised not to use more than 3x leverage max. for ~25% risk on the position.
Trade setup
Best entries: 226.50 - 231.50
TP1: 270.00
TP2: 308.67
TP3: 345.94
SL: 209.50
RR: 6
Max leverage: 3x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
Dagangan ditutup: hentian tercapai
BCHUSDT broke down the trendline invalidating the ascending wedge. Hit our SL and is now retracing. Could be a fake out or the start of a new trend downwards. Lets monitor the development of the price.SL was reached with 8.5% or 25.5% with 3x leverage.
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.