RENDER trade entry set up

18 Kas 2024

Long term analysis


On a weekly timeframe, RENDERUSDT is developing a powerful bullish wave since January 2023. The last corrective wave (around -70%) seems to be ending with a reversal pattern. In addition we have a weekly golden cross signal which from history gave good opportunities from the last 2 waves and the flat and narrow bollinger bands hint at a potential explosive move upward.


Strategy



Buy on the break of the resistance line of 7.70$.

1. Objective 1: back to the next resistance at 9.80$ (+30%)
   
2. Objective 2: ATH at 13.50$ (+75%)
   
3. Objective 3: Wave V extension around 30$ (+290%)
   

Invalidation
Mental Stop: below the last low of 6.90$
If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the weekly close price.

18 Kas 2024

İşlem aktif

Breakout done, let's monitor the trade which is now active

5 Ara 2024

Not

Objective 1 has been reached ✅
Let's take our first profits with 30% gains and secure our position to target the next objectives.

20 Ara 2024

İşlem kapandı: durdurma seviyesi

Our protective stop was triggered at 9,80$
We are out with a bit less than 30% profits on this trade.
Let's move on and focus on our next opportunities.