Chainlink (Link) formed big Cypher for upto 150% big move
Updated
Hi friends, hope you are well and welcome to the new update on Chainlink (Link).
On the weekly chart, the price action is at the support of an up trend line:
At the same time on the 2-week time frame chart, the price action has formed a big Cypher pattern.
Buy and sell targets:
Buy between: $23.65 to $16.78
Sell between: $29.05 to $42.01
Stop loss:
The maximum extent of the potential reversal zone $16.78 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 150%, and the loss possibility is 29.However, the price action is at the end of the buying zone. Therefore it is a low risk trade.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
On the weekly chart, the price action is at the support of an up trend line:
At the same time on the 2-week time frame chart, the price action has formed a big Cypher pattern.
Buy and sell targets:
Buy between: $23.65 to $16.78
Sell between: $29.05 to $42.01
Stop loss:
The maximum extent of the potential reversal zone $16.78 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 150%, and the loss possibility is 29.However, the price action is at the end of the buying zone. Therefore it is a low risk trade.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.