NEOUSDTP 4H Long setup price bouncing on trendline
Updated
TA Explained
NOTE: price already moved, I was about to publish this chart when my laptop crashed...
NEOUSDT broke long lasting horizontal resistance area and diagonal resistance trendline end of last month.
Currently forming an ascending triangle. Price keeps bouncing on the upward trendline. Expecting a retest of previous high and a possible breakout.
SL below previous low and trendline. If price reaches there this TA gets invalidated so I want to be out of the position. Risking about 16% of position.
Trade setup
Best entries: 13.020 - 13.380
TP1: 13.790
TP2: 14.090
TP3: 14.590
SL: 12.682
RR: 2.68
Max leverage: 4x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
NOTE: price already moved, I was about to publish this chart when my laptop crashed...
NEOUSDT broke long lasting horizontal resistance area and diagonal resistance trendline end of last month.
Currently forming an ascending triangle. Price keeps bouncing on the upward trendline. Expecting a retest of previous high and a possible breakout.
SL below previous low and trendline. If price reaches there this TA gets invalidated so I want to be out of the position. Risking about 16% of position.
Trade setup
Best entries: 13.020 - 13.380
TP1: 13.790
TP2: 14.090
TP3: 14.590
SL: 12.682
RR: 2.68
Max leverage: 4x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
Trade closed: target reached
That was the quickest 3rd target so far, within 1H. If you are still holding a portion of the position look for the target in the chart, its based on a higher TF fib level.
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