AGIX: Why trading the long option is a better strategy
SingularityNET price action (AGIX) is generating an interesting technical pattern. A potential double-top has formed which strengthens strong bearish divergence on the daily chart. However, a recent bit of strengthening suggests a bullish continuation triangle is in the make at the same time.
I'm not trading this pattern, but if I were, I'd choose to go long. If I'm right then my entry point should not be threatened by a little reversal on an intraday timeframe. If I'm wrong, then I'd expect a confirmation move to touch the bottom of the triangle, allowing me to get out close to my entry point for a relatively small loss.
It's all about risk-reward. A long target: US$2.33 - that's a 100% gain IF... oh that bloody IF... :)
https://www.tradingview.com/x/N0Z0jNQb/
I'm not trading this pattern, but if I were, I'd choose to go long. If I'm right then my entry point should not be threatened by a little reversal on an intraday timeframe. If I'm wrong, then I'd expect a confirmation move to touch the bottom of the triangle, allowing me to get out close to my entry point for a relatively small loss.
It's all about risk-reward. A long target: US$2.33 - that's a 100% gain IF... oh that bloody IF... :)
https://www.tradingview.com/x/N0Z0jNQb/
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