so a descending triangle has been formed, if price breaks above it, it would be great opportunity to open a long position,
the entry point and TP&SL are pointed out in the chart
The strategy behind opening any position is to make sure your win/loss ration is 3/1 i.e TP should be 10% and your stop loss 3%
I suggest you do the same, so if you do 10 trades you only need 3 of them to be successful to gain a profit on your whole trades
the entry point and TP&SL are pointed out in the chart
The strategy behind opening any position is to make sure your win/loss ration is 3/1 i.e TP should be 10% and your stop loss 3%
I suggest you do the same, so if you do 10 trades you only need 3 of them to be successful to gain a profit on your whole trades
Note
So price just broke the bottom line of the triangle if we see a pullback to the broken line there is a possible opportunity to a open short position on AXS/USDT
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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.