PNUT/USDT is currently respecting the ascending parallel channel on the 4H timeframe. Price bounced off the lower boundary of the channel, showing signs of a potential bullish continuation. A long position is entered near support, with a target toward the upper range of the channel and a tight stop loss just below the structure.
🔹 Entry: ~0.2218
🔹 Stop Loss: ~0.2140 (below channel support)
🔹 Take Profit: ~0.2521 (upper channel resistance)
🔹 Risk-to-Reward: ~4.2R
The trade aligns with the trend structure and offers a favorable R:R setup. Break of the channel may invalidate the setup.
🔹 Entry: ~0.2218
🔹 Stop Loss: ~0.2140 (below channel support)
🔹 Take Profit: ~0.2521 (upper channel resistance)
🔹 Risk-to-Reward: ~4.2R
The trade aligns with the trend structure and offers a favorable R:R setup. Break of the channel may invalidate the setup.
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.