ORDI / TetherUSLong
WLD trade entry
Updated
Weekly timeframe
WLDUSDT witnessed a powerful bullish wave between November 2023 and March 2024. Then a corrective wave (around -70%) followed and formed a multi-month consolidation range. Check out how this range has formed an inverted "Head & Shoulder" pattern just above the overlap level. The flat and narrow bollinger bands hint at a potential explosive move. All ingredient are there for an interesting trade setup.
Strategy
Buy on the break of the resistance line at 43,10$
Invalidation
Mental Stop: below the last low of 39,30$
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. This would invalidate the breakout scenario.
WLDUSDT witnessed a powerful bullish wave between November 2023 and March 2024. Then a corrective wave (around -70%) followed and formed a multi-month consolidation range. Check out how this range has formed an inverted "Head & Shoulder" pattern just above the overlap level. The flat and narrow bollinger bands hint at a potential explosive move. All ingredient are there for an interesting trade setup.Strategy
Buy on the break of the resistance line at 43,10$
- Objective 1: back to the next resistance at 60$ (+40%)
- Objective 2: ATH region at 90$ (+110%)
- Objective 3: Trend following strategy
Invalidation
Mental Stop: below the last low of 39,30$
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. This would invalidate the breakout scenario.
Trade active
Note
Typo in the text, this is not about WLD but ORDI of course
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