AMPL: Important support zone ahead!
Hello traders! As a request of mahsa_91_m, we will study AMPL today! This crypto started to get interesting last month, and we will try to figure what’s happening here, and what to expect next. But, if you are new around here, I invite you to follow me to keep in touch with my daily analyses. Every day, after the market closes, I’m here to share a few ideas with you, and probably you’ll find something interesting.
Back to AMPL, it is trading in a support zone, and we all know what to do near supports: Buy. The Risk/Reward ratio to trades near supports are usually very good, and if things turn out bad, you’ll lose a little, but if you see a good bullish movement next, you can profit a lot.
The situation is pretty simple. Also, the volume increased a lot lately, which is a good sign. The crypto is starting to get interesting, and the chances of a very strong movement upwards increases.
Yes, AMPL is a buy, but be aware that it is very volatile. Meaning that it could hit the purple line down there (important support) before doing something new.
If we look at the hourly chart, we find something that looks like a triangle:
Its movements are quite erratic, yes, and it has some good chances of busting this triangle. So, I would stick with the daily chart. But, if AMPL triggers this triangle upwards we might see something good in the future. And, since you are still here, please, support this idea!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
Back to AMPL, it is trading in a support zone, and we all know what to do near supports: Buy. The Risk/Reward ratio to trades near supports are usually very good, and if things turn out bad, you’ll lose a little, but if you see a good bullish movement next, you can profit a lot.
The situation is pretty simple. Also, the volume increased a lot lately, which is a good sign. The crypto is starting to get interesting, and the chances of a very strong movement upwards increases.
Yes, AMPL is a buy, but be aware that it is very volatile. Meaning that it could hit the purple line down there (important support) before doing something new.
If we look at the hourly chart, we find something that looks like a triangle:
Its movements are quite erratic, yes, and it has some good chances of busting this triangle. So, I would stick with the daily chart. But, if AMPL triggers this triangle upwards we might see something good in the future. And, since you are still here, please, support this idea!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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