Current Price: You've set a buy point at $0.038, which indicates you see this as an entry point for investors looking to capitalize on an anticipated upward trend.
Stop Loss (SL): With a stop loss set at $0.028, you're defining a risk management strategy, providing a clear exit point if the price drops below this level. This SL is calculated at about 26% below your buy point, which is a substantial buffer to account for volatility but still protective.
EMA 10: The price being above the 10-week Exponential Moving Average (EMA) is generally seen as a bullish sign, suggesting that the current price trend is stronger than the average price over the last 10 weeks. This position above the EMA can indicate momentum in the price action, supporting your bullish outlook.
Cup and Handle Formation: Describing a 26-week cup followed by a handle forming over 7 weeks is indicative of a classic bullish pattern. The cup and handle pattern is often looked at as a signal for a continuation of the uptrend. The cup suggests a period of consolidation after a significant rise, followed by a smaller consolidation (the handle) before potentially breaking out to new highs.
Cup Duration: A 26-week cup is a long-term formation, implying a significant base-building period which might precede a substantial move if the breakout occurs.
Handle Formation: The handle, which is still forming, should ideally retest the previous resistance (now support) level of the cup's rim. If the price breaks out from the handle, it could confirm the continuation of the bullish trend.
Stop Loss (SL): With a stop loss set at $0.028, you're defining a risk management strategy, providing a clear exit point if the price drops below this level. This SL is calculated at about 26% below your buy point, which is a substantial buffer to account for volatility but still protective.
EMA 10: The price being above the 10-week Exponential Moving Average (EMA) is generally seen as a bullish sign, suggesting that the current price trend is stronger than the average price over the last 10 weeks. This position above the EMA can indicate momentum in the price action, supporting your bullish outlook.
Cup and Handle Formation: Describing a 26-week cup followed by a handle forming over 7 weeks is indicative of a classic bullish pattern. The cup and handle pattern is often looked at as a signal for a continuation of the uptrend. The cup suggests a period of consolidation after a significant rise, followed by a smaller consolidation (the handle) before potentially breaking out to new highs.
Cup Duration: A 26-week cup is a long-term formation, implying a significant base-building period which might precede a substantial move if the breakout occurs.
Handle Formation: The handle, which is still forming, should ideally retest the previous resistance (now support) level of the cup's rim. If the price breaks out from the handle, it could confirm the continuation of the bullish trend.
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.