Long
Ambrosus (AMB) - Breakout! New 60-day High!
Another day, another alt with a new high. In this case, Ambrosus's ascending triangle was confirmed with a breakout. Unfortunately, I was too late to spot this trade. Price is slightly too extended for my liking.
Ideally, I would employ a trend-following strategy by buying strength after a breakout (new highs) but given the risk-reward ratio offered by this trade, I'll trying to catch a lower time frame retracement and improve my R:R that way.
Ideally, I would employ a trend-following strategy by buying strength after a breakout (new highs) but given the risk-reward ratio offered by this trade, I'll trying to catch a lower time frame retracement and improve my R:R that way.
Note
Target hit! More importantly, from all the alts I've analyzed this is one leading in terms of price action. Very interested to see how the price behaves at this major resistance.
Would it break through? Would it consolidating above or below?
Stay tuned !
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.