ALPHA (ALPHAPERP) – Long signal

24 Mar 2021

BUY: 1.92 – 2.09 (Wait for price to enter buy zone)

TARGETS:
1) 2.48
2) 2.98

STOP: When a 4h candle closes below 1.5

Rationale:
-Price has been respecting two diagonal trendlines and has just broken out and retested the trendline, converting it to support.
-The trendlines intersect in the same area as the 100 and 200 EMAs. This confluence indicates it is a strong level of support.
-Volume has increased after the retest, and the RSI is looking strong.
-Stop loss is positioned under the trendlines and 200 EMA.

Your risk, your reward. This is not financial advice.
Happy trading.

30 Mar 2021

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