Waiting for retest for LINA/USDT
Updated
Hi all,
Why I see an opportunity
LINA broke through the resistance yesterday.
The retest area corresponds nicely with the Fibonacci level
With the current bullish sentiment, I am waiting for a retest as final confirmation before entering the trade. For this, I keep an eye on the price action on lower timeframes. (I don't set a buy limit).
Possible Disadvantages
- Retest can also be higher so we miss the boat
- The leverages traders (including me) are being tricked with a false breakout.
Always do your own research and use proper riskmanagement
Why I see an opportunity
LINA broke through the resistance yesterday.
The retest area corresponds nicely with the Fibonacci level
With the current bullish sentiment, I am waiting for a retest as final confirmation before entering the trade. For this, I keep an eye on the price action on lower timeframes. (I don't set a buy limit).
Possible Disadvantages
- Retest can also be higher so we miss the boat
- The leverages traders (including me) are being tricked with a false breakout.
Always do your own research and use proper riskmanagement
Note
Put your SL to breakeven if the price reaches 0.074-0.075
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