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WOO / TetherUS
Long

Ascending Channel Trade Setup for WOO/USDT

By mbaberhanif
Updated
The chart shows WOO/USDT on a 4-hour timeframe, with price action within an ascending channel. The trend appears bullish, as the price consistently forms higher highs and higher lows, respecting the channel's support and resistance lines. A long position is indicated, with the entry near the channel support around 0.1770. The target is set near 0.2350, close to the channel's upper resistance, while the stop-loss is around 0.1480, slightly below the channel support. This setup suggests a favorable risk-to-reward ratio, betting on a continuation of the uptrend within the channel.
Trade active
One can book 50% Profit on the recent impulse, and hold remaining for the target or use trailing stop to manage your risk accordingly 🚀🚀📈
Trade closed: target reached
Chart PatternsTechnical IndicatorsTrend Analysis
mbaberhanif

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