Trade Idea " TRON / BITCOIN " Long setup by ThinkingAntsOk
Main Items we can see on the 4h chart:
a)Price broke out from a descending trendline and started a Wedge Pattern formation.
b) Wedge Patterns are considered reversal structures.
c) The Wedge Pattern is supported by a major support/resistance level and the broken descending trendline.
Daily view:
Based on this we expect the price to continue the bullish movement towards the next resistance level at 0550.
Our parameters are:
-Entry price: 0420
-Stop price: 0360
-Take Profit : 0550
If the Stop is hit, we will analyze if the intention of the price was to make a fake out or a bearish movement, after that we will consider or not a re-entry.
*Please note that the above perspective is our view on the market, We do not give signals and take no responsibility for your trades.
a)Price broke out from a descending trendline and started a Wedge Pattern formation.
b) Wedge Patterns are considered reversal structures.
c) The Wedge Pattern is supported by a major support/resistance level and the broken descending trendline.
Daily view:
Based on this we expect the price to continue the bullish movement towards the next resistance level at 0550.
Our parameters are:
-Entry price: 0420
-Stop price: 0360
-Take Profit : 0550
If the Stop is hit, we will analyze if the intention of the price was to make a fake out or a bearish movement, after that we will consider or not a re-entry.
*Please note that the above perspective is our view on the market, We do not give signals and take no responsibility for your trades.