Market Context:
WIF set in a double bottom on July 11th and has since climbed 90%, establishing a higher high and breaking the downtrend.
The price is currently retracing, and we are looking for acceptance above $2. Observing this area for signs of a bounce will help in trading the breakout while setting in a higher low.
Trade Parameters:
Entry: Enter a trade between $2 and $2.2.
Take Profit:
First target: $3
Second target: $3.6
Stop Loss: Set at a daily close below $1.90
📊 Monitor price action closely around the $2 area for signs of a bounce. Ensure to manage your risk effectively and adjust the trade if market conditions change. #WIF #TradingStrategy #CryptoTrading 🎯
WIF set in a double bottom on July 11th and has since climbed 90%, establishing a higher high and breaking the downtrend.
The price is currently retracing, and we are looking for acceptance above $2. Observing this area for signs of a bounce will help in trading the breakout while setting in a higher low.
Trade Parameters:
Entry: Enter a trade between $2 and $2.2.
Take Profit:
First target: $3
Second target: $3.6
Stop Loss: Set at a daily close below $1.90
📊 Monitor price action closely around the $2 area for signs of a bounce. Ensure to manage your risk effectively and adjust the trade if market conditions change. #WIF #TradingStrategy #CryptoTrading 🎯
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.
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.