WLD trade entry
Weekly timeframe
WLDUSDT witnessed a powerful bullish wave between November 2023 and March 2024. Then a corrective wave (around -70%) followed and formed a multi-month consolidation range. Check out how this range has formed an inverted "Head & Shoulder" pattern just above the overlap level. The flat and narrow bollinger bands hint at a potential explosive move. All ingredient are there for an interesting trade setup.
Strategy
Buy on the break of the resistance line at 43,10$
Invalidation
Mental Stop: below the last low of 39,30$
If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the weekly close price. This would invalidate the breakout scenario.
WLDUSDT witnessed a powerful bullish wave between November 2023 and March 2024. Then a corrective wave (around -70%) followed and formed a multi-month consolidation range. Check out how this range has formed an inverted "Head & Shoulder" pattern just above the overlap level. The flat and narrow bollinger bands hint at a potential explosive move. All ingredient are there for an interesting trade setup.Strategy
Buy on the break of the resistance line at 43,10$
- Objective 1: back to the next resistance at 60$ (+40%)
- Objective 2: ATH region at 90$ (+110%)
- Objective 3: Trend following strategy
Invalidation
Mental Stop: below the last low of 39,30$
If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the weekly close price. This would invalidate the breakout scenario.
Trade active
Note
Typo in the text, this is not about WLD but ORDI of course
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.
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.