Decentraland (MANA) ranging
Updated
Decentraland (MANA)
A self defined virtual reality platform has seen a 600% move upwards after the hype around it.
People who like the project and still want to hop on this one, it is currently ranging in between the Daily Supply and 4H Demand area.
Best to wait for the break-out, enter on the retest and put the Stop Loss @ 2.5 or slightly under for a decent risk to reward ratio.
Added approx. lvls. as exits.
Happy trading.
A self defined virtual reality platform has seen a 600% move upwards after the hype around it.
People who like the project and still want to hop on this one, it is currently ranging in between the Daily Supply and 4H Demand area.
Best to wait for the break-out, enter on the retest and put the Stop Loss @ 2.5 or slightly under for a decent risk to reward ratio.
Added approx. lvls. as exits.
Happy trading.
Trade active
*UPDATE*MANA flagging, time to pay attention, so far so good, but be vigilant and act accordingly, always set a realistic stop loss lvl.!
Trade active
In previous post, a breakout, resistance bounce and a parallel channel retest was anticipated. This all happened, BUT, then the most important thing is still missing. It didn't had enough volume to climb back up again. What we now see, is price action within the golden range... 38.2 50.0 and 61.8. (38.2 + 61.8 = 100)BTW, if you are uncomfortable with the tight stop loss, I also noted to put it a bit below it, to still have a decent risk to reward ratio, but I will leave it where it is.
Eyes are now more focussed on ETH and BTC, so it could be that this will be grinding along until enough buildup towards a move up has been realised. Though not shown on this chart, on the lower timeframes, momentum is already moving up.
Let's see what happens.
Trade closed: stop reached
Stopped out.Will check back when ALT season will be priming.
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