JUP / TetherUSLong
JUP entry set up
Updated
Long term analysis
JUPUSDT is a relatively new project which witnessed a powerful bullish wave in the first quarter of 2024. Since then a 8 month consolidation followed which is attempting a breakout move. On the weekly timeframe we have a golden cross, flat and narrow Bollinger band and a potential breakout to watch closely in order to take a good trade entry setup
Post Breakout Strategy
Buy on the break out of the 1.25$ resistance to play the potential explosive move upward corresponding to the Vth Elliot wave:
Invalidation
Mental Stop: below the last low of 1.03$
If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the weekly close price.
JUPUSDT is a relatively new project which witnessed a powerful bullish wave in the first quarter of 2024. Since then a 8 month consolidation followed which is attempting a breakout move. On the weekly timeframe we have a golden cross, flat and narrow Bollinger band and a potential breakout to watch closely in order to take a good trade entry setupPost Breakout Strategy
Buy on the break out of the 1.25$ resistance to play the potential explosive move upward corresponding to the Vth Elliot wave:
- Objective 1: back to ATH at 1.70$ (+35%)
- Objective 2: Vth wave extension around 4.50$ zone (+250%)
- Objective 3: Trend following strategy
Invalidation
Mental Stop: below the last low of 1.03$
If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the weekly close price.
Trade active
Trade closed: stop reached
Our invalidation scenario was triggered and trade closed around 1$
We took a loss of 20% of this trade. Let's move on and focus on our next opportunities.
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