AXL / TetherUSLong
AXL/USDT: MAJOR ASCENDING CHANNEL - 85% PROFIT POTENTIAL SETUP
Technical Analysis: 🎯
- Trading within a strong ascending channel since August 2024
- Current price: 0.7145 USDT
- Price retesting major channel support - prime entry zone
Entry Strategy:
✅ Strategic Entry: 0.7007 USDT
- Perfect channel support confluence
- Higher lows pattern maintained
- Volume profile showing accumulation signs
Target Projection:
🎯 Primary Target: 1.3114 USDT (87% ROI potential)
- Channel resistance alignment
- Historical resistance zone
- Clear upward trajectory within channel
Risk Management (CRITICAL):
⚠️ Stop Loss: -4% below entry
- Protected by channel support
- Clear invalidation level
- Impressive 1:21.75 Risk-Reward ratio
Key Technical Factors:
- Ascending channel providing clear direction
- Multiple touches validating channel strength
- Price action showing healthy pullback to support
- Volume confirming key reversals at support
Trading Plan:
1. Enter at 0.7007 USDT
2. Stop loss at -4% for capital protection
3. Partial profits recommended at channel midpoint
4. Final target at upper channel resistance
⚠️ Important Notes:
- Channel trades require patience
- Watch for bullish confirmation at entry
- Volume confirmation crucial
- Always use proper position sizing
🔔 Remember:
- DYOR (Do Your Own Research)
- Risk management is crucial
- Market conditions can change
- Follow your trading plan strictly
#TechnicalAnalysis #AXL #Crypto #SpotTrading #ChannelTrading #CryptoTrading
Would you like me to provide alternative title options or elaborate on any aspect of this analysis? 🚨
- Trading within a strong ascending channel since August 2024
- Current price: 0.7145 USDT
- Price retesting major channel support - prime entry zone
Entry Strategy:
✅ Strategic Entry: 0.7007 USDT
- Perfect channel support confluence
- Higher lows pattern maintained
- Volume profile showing accumulation signs
Target Projection:
🎯 Primary Target: 1.3114 USDT (87% ROI potential)
- Channel resistance alignment
- Historical resistance zone
- Clear upward trajectory within channel
Risk Management (CRITICAL):
⚠️ Stop Loss: -4% below entry
- Protected by channel support
- Clear invalidation level
- Impressive 1:21.75 Risk-Reward ratio
Key Technical Factors:
- Ascending channel providing clear direction
- Multiple touches validating channel strength
- Price action showing healthy pullback to support
- Volume confirming key reversals at support
Trading Plan:
1. Enter at 0.7007 USDT
2. Stop loss at -4% for capital protection
3. Partial profits recommended at channel midpoint
4. Final target at upper channel resistance
⚠️ Important Notes:
- Channel trades require patience
- Watch for bullish confirmation at entry
- Volume confirmation crucial
- Always use proper position sizing
🔔 Remember:
- DYOR (Do Your Own Research)
- Risk management is crucial
- Market conditions can change
- Follow your trading plan strictly
#TechnicalAnalysis #AXL #Crypto #SpotTrading #ChannelTrading #CryptoTrading
Would you like me to provide alternative title options or elaborate on any aspect of this analysis? 🚨
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.