This chart shows a BTC/USD (Bitcoin to US Dollar) trading setup on the 30-minute timeframe. Here's a breakdown of what it's indicating:
1. Pattern Formation: A potential bullish flag or ascending triangle setup is forming after a strong upward move, suggesting continuation.
2. Entry Point: The chart suggests a breakout above the consolidation zone (the horizontal blue line) as a possible buy signal.
3. Take Profit Targets:
First Take Profit: Just above the breakout zone.
Second Take Profit: At a projected target based on the previous bullish move (the "flagpole" height).
4. Stop Loss: Placed below the support zone (highlighted in red), protecting the trade if price breaks down instead.
5. Current Price: Around $87,106, just below the breakout level.
This is a classic risk/reward setup traders use for continuation plays. Do you want help calculating the exact entry, stop loss, and target levels based on this chart?
1. Pattern Formation: A potential bullish flag or ascending triangle setup is forming after a strong upward move, suggesting continuation.
2. Entry Point: The chart suggests a breakout above the consolidation zone (the horizontal blue line) as a possible buy signal.
3. Take Profit Targets:
First Take Profit: Just above the breakout zone.
Second Take Profit: At a projected target based on the previous bullish move (the "flagpole" height).
4. Stop Loss: Placed below the support zone (highlighted in red), protecting the trade if price breaks down instead.
5. Current Price: Around $87,106, just below the breakout level.
This is a classic risk/reward setup traders use for continuation plays. Do you want help calculating the exact entry, stop loss, and target levels based on this chart?
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Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
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Gold Signal's with proper TP & SL for high profit opportunities..
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.
📲 Join telegram channel free ..
t.me/Money_Magnet08
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Money_Magnet08
Gold Signal's with proper TP & SL for high profit opportunities..
t.me/Money_Magnet08
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Money_Magnet08
Gold Signal's with proper TP & SL for high profit opportunities..
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.