VET/USDT - buying the break-through - May 5, 2021
VeChain displayed strong momentum today until reaching resistance at around 0.2044. This is a premature trade, because neither a retest of the resistance after the break-through (now support), nor even a simple closed candle above the resistance in the 1h chart.
On the 4h chart, however, MACD flashes a lost of bearish momentum and the RSI is mid-way. Although premature, this crypto's fundamentals are also playing a role in this trade.
Parameters:
Entry: 0.20341
TP: 0.22292
SL: 0.19698
Risk/reward: 3:1
Disclaimer: I am a beginner trader and not a professional.
On the 4h chart, however, MACD flashes a lost of bearish momentum and the RSI is mid-way. Although premature, this crypto's fundamentals are also playing a role in this trade.
Parameters:
Entry: 0.20341
TP: 0.22292
SL: 0.19698
Risk/reward: 3:1
Disclaimer: I am a beginner trader and not a professional.
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