avax short or long swing trade awaiting conformation
i've drawn out the s/r of the high timeframes and gave them a label, as u probably know, high timeframes s/r always give a stronger reaction, also the thinner yellow lines are the smaller TF s/r, so i suggest to closely watch this setup and make ur trade accordingly to the conformation the market gives us, tp's are the yellow lines
Note
the AVAX short setup played out perfectly, hitting our downside target at the yellow support level of $22.765. Starting from the high-timeframe S/R level at $24.66, price dropped as anticipated, resulting in a successful short trade.
Result:
Profit: A gain of 7.5% unleveraged from entry to target.
We’ll monitor price action around this support to see if it holds or if there’s potential for further downside
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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.