VELOUSD Daily Chart Analysis
VELOUSD has exhibited distinct market cycle phases, presenting a strong bullish setup
.
Key Observations
1. Market Cycle Phases:
o From April to July 2024, price underwent a steep downtrend, indicative of a distribution or markdown phase.
o Between July and November, price transitioned into an accumulation phase, consolidating within a defined range.
2. Breakout Confirmation:
o At the end of November/start of December, price broke out of the accumulation range.
o A spike in volume supports the validity of the breakout, and the price has sustained its position above the resistance level for 7 consecutive days, signaling strong buying pressure.
Trade Details
• Position: Long
• Entry: 0.13341
• Stop Loss: 0.11322 (15.13% risk)
• Target: 0.22295 (67.12% potential return)
• Risk-to-Reward Ratio: 4.43
Summary
The breakout from the accumulation range, supported by volume and momentum, suggests a continuation of bullish activity. The setup offers a favorable risk-to-reward ratio for long trades. Careful monitoring of the stop-loss level is recommended to protect against potential retracements.
VELOUSD has exhibited distinct market cycle phases, presenting a strong bullish setup
.
Key Observations
1. Market Cycle Phases:
o From April to July 2024, price underwent a steep downtrend, indicative of a distribution or markdown phase.
o Between July and November, price transitioned into an accumulation phase, consolidating within a defined range.
2. Breakout Confirmation:
o At the end of November/start of December, price broke out of the accumulation range.
o A spike in volume supports the validity of the breakout, and the price has sustained its position above the resistance level for 7 consecutive days, signaling strong buying pressure.
Trade Details
• Position: Long
• Entry: 0.13341
• Stop Loss: 0.11322 (15.13% risk)
• Target: 0.22295 (67.12% potential return)
• Risk-to-Reward Ratio: 4.43
Summary
The breakout from the accumulation range, supported by volume and momentum, suggests a continuation of bullish activity. The setup offers a favorable risk-to-reward ratio for long trades. Careful monitoring of the stop-loss level is recommended to protect against potential retracements.
Dagangan ditutup: sasaran tercapai
BoomAlways nice to get a little more than expected lol. In this case more than double.
Exit: 0.32656, +144.78%, 9.57 RR ratio
Nota
Re-entering trade longEntry: 0.27669
Stoploss: 0.26187, -5.36%
Target: Trailing 10ema 15min chart
Nota
Trade close: Stop reached- dStoploss: 0.26187, -5.36%
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.