Observations:
Double Top Formation: A bearish reversal pattern, indicating potential for price to move downward.
Resistance Level: Around $0.015047, marked in red.
Support Level: Around $0.014675, marked in green.
Downward Momentum: Price broke below the neckline (support level) of the double top.
Volume Confirmation: Increasing sell volume after the double-top pattern.
Momentum Indicator: The histogram (MS) shows declining strength, aligning with the bearish momentum.
Short Trade Setup:
Entry Point: Enter a short trade after price retests the support level as resistance around $0.014675, confirming the breakout.
Take Profit (TP): TP1: $0.014350 (previous key level of support).
Stop Loss (SL): Place the SL above the neckline of the double top at $0.014750 (slightly above to account for false breakouts).
Risk-Reward Ratio:
Entry: $0.014675
SL: $0.014750 (7.5 pips above entry).
TP1: $0.014350 (32.5 pips below entry).
Risk/Reward for TP1: 1:3.43
Double Top Formation: A bearish reversal pattern, indicating potential for price to move downward.
Resistance Level: Around $0.015047, marked in red.
Support Level: Around $0.014675, marked in green.
Downward Momentum: Price broke below the neckline (support level) of the double top.
Volume Confirmation: Increasing sell volume after the double-top pattern.
Momentum Indicator: The histogram (MS) shows declining strength, aligning with the bearish momentum.
Short Trade Setup:
Entry Point: Enter a short trade after price retests the support level as resistance around $0.014675, confirming the breakout.
Take Profit (TP): TP1: $0.014350 (previous key level of support).
Stop Loss (SL): Place the SL above the neckline of the double top at $0.014750 (slightly above to account for false breakouts).
Risk-Reward Ratio:
Entry: $0.014675
SL: $0.014750 (7.5 pips above entry).
TP1: $0.014350 (32.5 pips below entry).
Risk/Reward for TP1: 1:3.43
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.