This trade is part of my evaluation that VALUE trades will do better in 2022. DEFI was hit hard last year and is starting to get some interest from Institutions. Also looks like the Finacial sector in stocks are heating up and the quest for yield should help DEFI have a resurgence in 2022 as Interest Rate Hikes loom on the horizon.
This trade is an EARLY BUY signal. This is NOT YET CONFIRMED. This BUY signal stems from the break of the down trend on MACD as well as the Breakout of the GIANT WEDGE as price has consolidated. MACD is rising and looking to want to break above ZERO. Price is still below resistance lines at $273-$304. Need to break above these levels before this trade is confirmed and where I will ADD to this trade. For now relatively LOW Risk to enter with a small position.
Downside risk is to the $165ish range. I have placed my SL at a conservative $137.06. Entry Price was $235.19. Despite this WIDE SL the upside Target Price = $629.
Entry = $235.19
SL = $137.06
TP = $629
This trade is an EARLY BUY signal. This is NOT YET CONFIRMED. This BUY signal stems from the break of the down trend on MACD as well as the Breakout of the GIANT WEDGE as price has consolidated. MACD is rising and looking to want to break above ZERO. Price is still below resistance lines at $273-$304. Need to break above these levels before this trade is confirmed and where I will ADD to this trade. For now relatively LOW Risk to enter with a small position.
Downside risk is to the $165ish range. I have placed my SL at a conservative $137.06. Entry Price was $235.19. Despite this WIDE SL the upside Target Price = $629.
Entry = $235.19
SL = $137.06
TP = $629
