LINKUST trade ideas
Chainlink(LINK): Overbought or Bull Run?LINK is back after that massive breakout; it recently broke the major resistance zone that was a point of interest for us.
As that being said, we are waiting for a correction on LINK to happen where the price is currently in an overbought state and there is a high chance of re-testing that broken zone (the resistance of BB).
Swallow Team
LINK → Chainlink About to Breakout!? Let's Maximize Profits!Chainlink bounced off the top of the Resistance Zone at $20.00 and is threatening to break out. Is this a situation that calls for a long or a short?
How do we trade this? 🤔
Never long in a Resistance Zone! But also, don't short prematurely. I believe LINK will make an attempt to break out of the Resistance Zone, but we need confirmation of the break before we can enter a long trade. Wait for a strong close above $20 followed by a test of the Resistance Zone as support. Once we see a strong bull bar closing on or near its high after a bounce on the Resistance Zone, we have the justification to enter a long trade.
I do believe that Bitcoin has a high likelihood of pulling back into the $30,000-$35,000 range before we see new all-time highs. Such an event will likely drag the altcoin market down with it. This is partially why this trade is set up to take half profits at 1:1 Risk/Reward and move the stop loss up to the entry price, locking in profits. The remainder of the trade can then be executed without worry of loss.
💡 Trade Idea 💡
Long Entry: $21.60
🟥 Stop Loss: $17.185
✅ Take Profit #1: $26.00
✅ Take Profit #2: $34.85
⚖️ Risk/Reward Ratio: 1:3
🔑 Key Takeaways 🔑
1. Two strong pushes to the upside
2. Strong resistance at Resistance Zone
3. Price action still above EMA ribbons
4. Wait for a break, close, and test of the Resistance Zone as support to enter a long trade
5. RSI at 70.00 and above the moving average, supports pullback then long
💰 Trading Tip 💰
Trends typically have three legs in either direction. Signals of a reversal include strong buy or sell bars with large wicks, higher highs and lower lows get weaker, and responses to the reverse direction get stronger. Confirmation lies with double and triple bottoms with a strong candle closing on or near its low/high.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
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Bull flag on LINKLINK pumped when the rest of the market was down. LINK tends to lead the next leg up for BTC by a few weeks. This is a fairly clear bullflag with a projection past both of my short-term price targets. There is a strong consolidation on the first historic price target, this is bullish. The stochastic RSI is pointed downward, if we can get a reversal soon this flag may play out. The flag termination just so happens to be around the almighty golden fib.
"Patterns hidden by patterns."No financial Advice.
“There are only patterns, patterns on top of patterns, patterns that affect other patterns. Patterns hidden by patterns. Patterns within patterns.
If you watch close, history does nothing but repeat itself.
What we call chaos is just patterns we haven't recognized. What we call random is just patterns we can't decipher. What we can't understand we call nonsense. What we can't read we call gibberish.
There is no free will.
There are no variables.”
― Chuck Palahniuk, Survivor
LINK (Y24.P1.Video1). Macro overviewHi traders,
My thoughts on LINK and why I"m looking for high levels. As for looking for an entry, there is one clear level / potential setup otherwise its difficult to find an entry at this point.
When or if we get certain levels, I would be looking to short however my HODL is long term so I cover the potential macro targets as well.
Please give me a like and share,
Regards,
S.SAri
$LINKUSDT 1 WEEK#LINKCHAIN (LINK) has successfully broken above the consolidation zone after being trapped there for long.
The pair is currently on a very BULLISH move , and is approching a RESISTANCE zone at $22 - $24. Nothing much to do now, probable entry opportunities will appear once the RESISTANCE is broken or in case of further CORRECTION.
Hit 🚀 if you like it.
BINANCE:LINKUSDT +180% profit potential on the long termLINK is on the target to reach it's previous All time high of 53$ and its about time before it breakout from the ATH and reach new ATH my target $250
I'm expecting some correction before we can see some correction before its can hit ATH.
You can enter for position at $18 with 2x leverage.
Regards,
VectorAlgo