LINK is ready for a huge run upwards
This analysis is based on 1HR timeframe for LINKUSDTPERP contracts on Binance-Futures.
LINK have tried to break the previous resistance for the 4th time now. If it breaks this time, it can go up and try to break it's previous ATH.
We can also see that it has bounced off from the recent higher low(also acted as a support) which is again bullish.
If it breaks the resistance and goes upwards, we should keep booking profits as we progress higher up till $37. The profits should be booked periodically like close 50%, then 25% and finally 100% of your positions. That's partial profits booking to gain max out of your long positions.
Stop loss orders should be placed below $28 which also acts as immediate support. You could also use trailing stops if it goes in the right direction.
Happy Trading Everyone
For more trading ideas follow us.
LINK have tried to break the previous resistance for the 4th time now. If it breaks this time, it can go up and try to break it's previous ATH.
We can also see that it has bounced off from the recent higher low(also acted as a support) which is again bullish.
If it breaks the resistance and goes upwards, we should keep booking profits as we progress higher up till $37. The profits should be booked periodically like close 50%, then 25% and finally 100% of your positions. That's partial profits booking to gain max out of your long positions.
Stop loss orders should be placed below $28 which also acts as immediate support. You could also use trailing stops if it goes in the right direction.
Happy Trading Everyone
For more trading ideas follow us.
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Penafian
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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.