Ancient8Long
A8USD 12/2/2024
Updated
A8USD Daily Chart Analysis
The chart for A8USD displays a classic bullish reversal pattern, signaling a strong potential for upward movement. Here's the analysis:
Key Observations
1. Pattern Formation:
o Between October and November 2024, price appears to have formed a bottom, creating an inverted head and shoulders pattern.
2. Neckline Breakout:
o At the end of November, price broke through the neckline of the pattern.
o Several consecutive closes above the neckline reinforce the breakout's validity.
3. Volume and Momentum:
o A spike in volume confirms strong participation in the breakout.
o The MACD in bullish territory indicates positive momentum backing the move.
Trade Details
• Position: Long
• Entry: 0.1270
• Stop Loss: 0.1052 (17.21% risk)
• Initial Target: 0.2177 (67.48% potential return)
• Risk-to-Reward Ratio: 3.93
This trade setup offers an excellent risk-to-reward ratio and is supported by a solid technical reversal structure and bullish momentum indicators.
The chart for A8USD displays a classic bullish reversal pattern, signaling a strong potential for upward movement. Here's the analysis:
Key Observations
1. Pattern Formation:
o Between October and November 2024, price appears to have formed a bottom, creating an inverted head and shoulders pattern.
2. Neckline Breakout:
o At the end of November, price broke through the neckline of the pattern.
o Several consecutive closes above the neckline reinforce the breakout's validity.
3. Volume and Momentum:
o A spike in volume confirms strong participation in the breakout.
o The MACD in bullish territory indicates positive momentum backing the move.
Trade Details
• Position: Long
• Entry: 0.1270
• Stop Loss: 0.1052 (17.21% risk)
• Initial Target: 0.2177 (67.48% potential return)
• Risk-to-Reward Ratio: 3.93
This trade setup offers an excellent risk-to-reward ratio and is supported by a solid technical reversal structure and bullish momentum indicators.
Trade closed: target reached
Target: 0.2177 , +67.48%Note
Took profits at 0.2177.
Trade still running. Will trail 10 ema
Note
its just printing, over 200%!Note
Exiting trade @ 0.3883, +205.77%, 11.99 RR ratioNote
reentering trade long
entry: 0.3797
stoploss: 0.3512, -7.51%
Note
going to be providing an updated idea for this one. Very underrated coin. sad this doesnt have move views because this is a good one!Note
update to trade idea
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