Chart Details:
Current Price: 2,251.2 USD (+0.43%)
Trading Pattern: A downward channel (falling wedge) indicates a bearish trend.
Trading Strategy:
Stop Loss: 2,220 USD (marked in the red zone)
First Take Profit Level: 2,280 USD
Target Profit Level: 2,300 USD
This chart suggests a potential sell trade, where the price may break out downward from the channel. If the price reaches 2,280 USD, the first take profit level is achieved, while further decline to 2,300 USD is expected. If the price moves above 2,220 USD, the stop loss will trigger, limiting potential losses.
Current Price: 2,251.2 USD (+0.43%)
Trading Pattern: A downward channel (falling wedge) indicates a bearish trend.
Trading Strategy:
Stop Loss: 2,220 USD (marked in the red zone)
First Take Profit Level: 2,280 USD
Target Profit Level: 2,300 USD
This chart suggests a potential sell trade, where the price may break out downward from the channel. If the price reaches 2,280 USD, the first take profit level is achieved, while further decline to 2,300 USD is expected. If the price moves above 2,220 USD, the stop loss will trigger, limiting potential losses.
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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.