Avalanche (AVAX/USD) Long Breakout Setup – 200MA & Falling Wedge
This is a long (buy) setup for Avalanche (AVAX/USD), based on a potential breakout from a falling wedge pattern and the 200-period moving average (MA) on the 4-hour chart. The falling wedge is a bullish reversal pattern, and if the price breaks above the 200MA, it could confirm a strong uptrend.
Entry Point:
After a confirmed breakout above the falling wedge and the 200MA.
Stop Loss:
Below recent lows around $16.953, in case of a false breakout.
Take Profit Targets:
TP1: $27.016
TP2: $32.047
TP3: $36.240
TP4: $41.690
TP5: $45.044
TP6: $54.184
Trade Rationale:
The falling wedge is a bullish pattern, indicating potential for reversal.
If the price breaks above the 200MA, it suggests a trend shift to bullish momentum.
Multiple take-profit levels allow for scaling out profits as price progresses.
The risk-to-reward ratio is favorable, making this an attractive long setup.
Entry Point:
After a confirmed breakout above the falling wedge and the 200MA.
Stop Loss:
Below recent lows around $16.953, in case of a false breakout.
Take Profit Targets:
TP1: $27.016
TP2: $32.047
TP3: $36.240
TP4: $41.690
TP5: $45.044
TP6: $54.184
Trade Rationale:
The falling wedge is a bullish pattern, indicating potential for reversal.
If the price breaks above the 200MA, it suggests a trend shift to bullish momentum.
Multiple take-profit levels allow for scaling out profits as price progresses.
The risk-to-reward ratio is favorable, making this an attractive long setup.
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