COMP/USDT - buying the break-through - May 6, 2021

COMP seems to be bouncing off of the EMA ribbon and the support level at around USD 783.59, as the MACD indicator displays lost of bearish momentum. I'll try a conservative approach, with the TP at USD 830.92. The SL is rather tight, however allowing me to keep a 3:1 risk/reward ratio.

Parameters:


Entry: 788.62
TP: 830.92
SL: 774.79
Risk/reward: 3:1


Disclaimer: I am a beginner trader and not a professional.