MNGOUSD trade ideas
Mngo 1h shortSetup: In this bear market, the market is trending downwards and it is good to follow the trend. Thus, i am mainly shorting shit coins. Mngo is one of them. It has convincingly broke past its weekly support with great volume and is looking to target the next main liquidity zone at 0.04505
Entry: 0.4795
TP: 0.0445
Trailing SL: Trail using 1 Atr above the 9EMA
Double Bottom at ABCD/88.6% Confluence Zone With RSI DivergenceThis Double Bottom is looking pretty promising I set the Fibonacci tool up in logscale and that reveals that we are at the log-scale 88.6% retracement and from the looks of it are Double Bottoming while Forming Bullish Divergence on the RSI and as if that weren't enough we are also very near the PCZ of a Bullish ABCD which is just below us but the context of us showing bullish variables like this so very near the PCZ and at the 88.6% leads me to believe that right here and right now is a good spot to buy.
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Mango Protocol// Long OpportunityPull back to previous resistance and a Fib sweet spot. Also a few tests on this early trendline.
Candle volume lessening, suggesting momentum building. Bullish bias, but as always the opposite can happen.
In the case that price breaks down, instead of having a Stop Loss, Ill wait for price to retest the broken zone to limit losses.