This is my first post in months, a lot happened in the markets since my last post.
Today I will explain my analysis on REEF/USDT and why I'm very bullish on this.
First of all, you can see on my chart a breakout which is about to happen on the chart just like in the RSI. If it succeeds, I expect it to make an explosive move towards the upside.
Secondly, another detail as shown on the chart is a potential H&S pattern. You might think that it must break to the downside but actually, think a second before because we must view trading in terms of probability.
That means an H&S pattern can have a probability of breaking to the upside just like it can break to the downside (and yes, an H&S can break to the upside as it already happened on the SUSHI chart at the beginning of its largest bull run).
To finish, as a trade idea, you can either long now at the confirmation of the breakout OR set a limit buy at the H&S breakout towards the upside as shown on the chart (riskier). You can also set a stop loss or a short below the lower low
Thanks for reading.
Today I will explain my analysis on REEF/USDT and why I'm very bullish on this.
First of all, you can see on my chart a breakout which is about to happen on the chart just like in the RSI. If it succeeds, I expect it to make an explosive move towards the upside.
Secondly, another detail as shown on the chart is a potential H&S pattern. You might think that it must break to the downside but actually, think a second before because we must view trading in terms of probability.
That means an H&S pattern can have a probability of breaking to the upside just like it can break to the downside (and yes, an H&S can break to the upside as it already happened on the SUSHI chart at the beginning of its largest bull run).
To finish, as a trade idea, you can either long now at the confirmation of the breakout OR set a limit buy at the H&S breakout towards the upside as shown on the chart (riskier). You can also set a stop loss or a short below the lower low
Thanks for reading.