We've decided to enter a trade on #NOTUSDT after identifying a promising technical setup that indicates a potential breakout. Here’s a detailed explanation of our decision:
1. Symmetrical Triangle Breakout: The price action of NOT has been forming a symmetrical triangle pattern, characterized by converging trendlines. This pattern often precedes a significant price movement. Recently, the price has broken above the upper trendline, suggesting the start of a bullish phase.
2. Volume Confirmation: The breakout from the symmetrical triangle is accompanied by an increase in trading volume. This volume surge confirms the breakout's validity, indicating strong buying interest.
3. Bullish Candlestick Formation: The chart displays a series of bullish candlesticks immediately following the breakout. This formation supports the bullish sentiment and strengthens our confidence in the trade.
4. RSI Signal: The Relative Strength Index (RSI) is moving upwards but remains below the overbought territory. This indicates that there is still potential for further price appreciation without immediate risk of a reversal.
5. Risk-Reward Ratio: Our entry point at $0.022280 is strategically placed, with a stop loss at $0.019004 to manage downside risk. The target price is set at $0.032089, offering a favorable risk-reward ratio for this trade.
In conclusion, the technical indicators and the positive breakout pattern present a compelling opportunity in NOT. With a well-defined risk management strategy, this trade aligns with our overall trading plan. Let's monitor and see how this unfolds!
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⚠️All trade ideas are published with a time delay. If you want to follow the trade in real time, please follow the link to our open copy trading account on Binance.
👉Our account with open trading, and all our other resources at this link: linktr. ee/In_Trade_MLN
1. Symmetrical Triangle Breakout: The price action of NOT has been forming a symmetrical triangle pattern, characterized by converging trendlines. This pattern often precedes a significant price movement. Recently, the price has broken above the upper trendline, suggesting the start of a bullish phase.
2. Volume Confirmation: The breakout from the symmetrical triangle is accompanied by an increase in trading volume. This volume surge confirms the breakout's validity, indicating strong buying interest.
3. Bullish Candlestick Formation: The chart displays a series of bullish candlesticks immediately following the breakout. This formation supports the bullish sentiment and strengthens our confidence in the trade.
4. RSI Signal: The Relative Strength Index (RSI) is moving upwards but remains below the overbought territory. This indicates that there is still potential for further price appreciation without immediate risk of a reversal.
5. Risk-Reward Ratio: Our entry point at $0.022280 is strategically placed, with a stop loss at $0.019004 to manage downside risk. The target price is set at $0.032089, offering a favorable risk-reward ratio for this trade.
In conclusion, the technical indicators and the positive breakout pattern present a compelling opportunity in NOT. With a well-defined risk management strategy, this trade aligns with our overall trading plan. Let's monitor and see how this unfolds!
___
⚠️All trade ideas are published with a time delay. If you want to follow the trade in real time, please follow the link to our open copy trading account on Binance.
👉Our account with open trading, and all our other resources at this link: linktr. ee/In_Trade_MLN
İşlem kapandı: durdurma seviyesi
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.