ST long on $LINK (2019.08.18)
LINK was a very strong performer YTD but has been in a bit of downtrend lately. It's showing signs of coming out of it though. Chart showing a bit of an inverted H&S pattern (not perfect) and a potential broadening wedge. Latest move up seems to be the right shoulder, so there's potential for a breakout. It may depend mostly on where BTC goes from here (i.e. strong dump or pump could scatter this whole idea....or drop price further). Potentially decent Risk/Return at present though.
Price already tapped the neckline but hoping the trend up continues.
SL: About 5% from entry, below the trend line and a couple of S/R levels
TP1: ~7-8% above entry
TP2: Trailing take-profit above 10% (4% below price).
Longer-term review
Price already tapped the neckline but hoping the trend up continues.
SL: About 5% from entry, below the trend line and a couple of S/R levels
TP1: ~7-8% above entry
TP2: Trailing take-profit above 10% (4% below price).
Longer-term review
Trade closed: stop reached
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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.