PENDLE - Is there a trade opportunity here ?
#PENDLE/USDT Analysis
Description
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+ As depicted in the chart, the price of PENDLE has broken out of the channel after trading within it for approximately a month.
+ This bearish breakout suggests an imminent phase of price consolidation following a bullish trend that persisted for over a month.
+ This presents a favorable opportunity to initiate a SHORT trade.
+ While significant profits may not be attainable in this trade, given the potential for price rebound from one of the support levels, it still represents a respectable opportunity.
+ I anticipate a price rebound after reaching the support range around 2.6.
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VectorAlgo Trade Details
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Entry Price: 2.9762
Stop Loss: 3.44
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Target 1: 2.827
Target 2: 2.6256
Target 3: 2.4415
Target 4: 2.2552
Target 5: 2.124
Target 6: 1.999
Target 7: 1.619
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Timeframe:1D
Capital: 1-2% of trading capital
Leverage: 5-10x
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Enhance, Trade, Grow
---------------------------------------------------------------
Agree or Disagree with the ideas ? lets discuss in the comments.
Like and follow us for more ideas.
Regards
VectorAlgo
Description
---------------------------------------------------------------
+ As depicted in the chart, the price of PENDLE has broken out of the channel after trading within it for approximately a month.
+ This bearish breakout suggests an imminent phase of price consolidation following a bullish trend that persisted for over a month.
+ This presents a favorable opportunity to initiate a SHORT trade.
+ While significant profits may not be attainable in this trade, given the potential for price rebound from one of the support levels, it still represents a respectable opportunity.
+ I anticipate a price rebound after reaching the support range around 2.6.
---------------------------------------------------------------
VectorAlgo Trade Details
------------------------------
Entry Price: 2.9762
Stop Loss: 3.44
------------------------------
Target 1: 2.827
Target 2: 2.6256
Target 3: 2.4415
Target 4: 2.2552
Target 5: 2.124
Target 6: 1.999
Target 7: 1.619
------------------------------
Timeframe:1D
Capital: 1-2% of trading capital
Leverage: 5-10x
---------------------------------------------------------------
Enhance, Trade, Grow
---------------------------------------------------------------
Agree or Disagree with the ideas ? lets discuss in the comments.
Like and follow us for more ideas.
Regards
VectorAlgo
Note
Price is slowly moving towards our first targetNote
Target 1 ReachedNote
Target 3 reached. Enjoy the profitsNote
I hope everyone secured the profits. SHORT is over
Enhance. Trade. Grow
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✈️ Telegram: t.me/VectorAlgo
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Join for latest signals/updates/advice.
🖥 Website: vectoralgo.com/
✈️ Telegram: t.me/VectorAlgo
🤖 Auto Trading Bot: t.me/VectorAlgo_Bot
🕸 SocialMedia: linktr.ee/vectoralgo
Join for latest signals/updates/advice.
Related publications
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.
Enhance. Trade. Grow
🖥 Website: vectoralgo.com/
✈️ Telegram: t.me/VectorAlgo
🤖 Auto Trading Bot: t.me/VectorAlgo_Bot
🕸 SocialMedia: linktr.ee/vectoralgo
Join for latest signals/updates/advice.
🖥 Website: vectoralgo.com/
✈️ Telegram: t.me/VectorAlgo
🤖 Auto Trading Bot: t.me/VectorAlgo_Bot
🕸 SocialMedia: linktr.ee/vectoralgo
Join for latest signals/updates/advice.
Related publications
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.