Breakout in the cards for Filecoin?
Hi fellow traders,
On the hourly timeframe, Filecoin (FILUSDT) looks like it wants to move higher. There are three trades I've created in which you can play a higher low for Filecoin.
The setups are A,B and C:
Trade setup A
This setup is the most aggressive one in which you enter a trade around 3.16 to 3.20 dollar. Stop loss could be the stop loss in the example, 3.12 dollar.
In this setup I'd personally go for profit taking at around 3.73 dollar, which serves a strong resistance. 10% / 20% can be left open if the coin keeps on moving higher.
Trade setup B
This setup is neutral in which you enter a trade at the second hourly support level. Entry around 3.10; Stop loss around 3.05.
Trade setup C
This setup is very defensive and a trade is entered at around 3.05 dollar. Stop loss around 3 dollar.
It's the last interesting level for a trade; losing this level will invalidate the hourly uptrend in my opinion.
As always, manage your risk accordingly.
On the hourly timeframe, Filecoin (FILUSDT) looks like it wants to move higher. There are three trades I've created in which you can play a higher low for Filecoin.
The setups are A,B and C:
Trade setup A
This setup is the most aggressive one in which you enter a trade around 3.16 to 3.20 dollar. Stop loss could be the stop loss in the example, 3.12 dollar.
In this setup I'd personally go for profit taking at around 3.73 dollar, which serves a strong resistance. 10% / 20% can be left open if the coin keeps on moving higher.
Trade setup B
This setup is neutral in which you enter a trade at the second hourly support level. Entry around 3.10; Stop loss around 3.05.
Trade setup C
This setup is very defensive and a trade is entered at around 3.05 dollar. Stop loss around 3 dollar.
It's the last interesting level for a trade; losing this level will invalidate the hourly uptrend in my opinion.
As always, manage your risk accordingly.
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