Right on the DOT/USDT
Updated
DOT/USDT
🟢entry: $18.060- $17.295
❌stoploss: $17.730
🎯tp1: $28.420- $27.360
🔼potential %profit: +56.57%
🔽potential %loss: -10.66%
r/r: 5.31
Hi Everyone,
🥀this trade idea is fairly self-explanatory. i see an inverse head-and-shoulder pattern developing. in addition to the chart pattern, there is significant volume and the left shoulder, the head, and (to a lesser extent) the right shoulder. this price/volume combination strengthens my confidence in the pattern.
🥀i am setting up the entry in a fairly tight range at the right shoulder, between $18.060 and $17.295.
🥀stop-loss is placed at an appropriate distance below entry, although there is not much in the way of price structure to give further guidance in placement.
🥀target exit is at the last point before price dropped off with volume and began to form the left shoulder of the pattern.
check back for updates as the position progresses.
feedback and constructive criticism is always appreciated.
✌️all good luck and always practice strict risk management!
🟢entry: $18.060- $17.295
❌stoploss: $17.730
🎯tp1: $28.420- $27.360
🔼potential %profit: +56.57%
🔽potential %loss: -10.66%
r/r: 5.31
Hi Everyone,
🥀this trade idea is fairly self-explanatory. i see an inverse head-and-shoulder pattern developing. in addition to the chart pattern, there is significant volume and the left shoulder, the head, and (to a lesser extent) the right shoulder. this price/volume combination strengthens my confidence in the pattern.
🥀i am setting up the entry in a fairly tight range at the right shoulder, between $18.060 and $17.295.
🥀stop-loss is placed at an appropriate distance below entry, although there is not much in the way of price structure to give further guidance in placement.
🥀target exit is at the last point before price dropped off with volume and began to form the left shoulder of the pattern.
check back for updates as the position progresses.
feedback and constructive criticism is always appreciated.
✌️all good luck and always practice strict risk management!
Note
**IMPORTANT UPDATE**i incorrectly wrote stop-loss at 17.730
**stop-loss should be placed at 15.730**
i apologize for my lack of attention to detail.
Trade closed: stop reached
misread the market, stopped out for loss.
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