Trade Setup: PENDLE Spot Long Position
Market Context:
PENDLE has reclaimed the 200-day Simple Moving Average (SMA) on the daily chart, as well as the broken horizontal support, now back in the range. This indicates a potential bullish trend.
Trade Parameters:
Entry: Enter a trade around the $3.9 support level.
Take Profit:
First target: $4.5
Second target: $5.2
Third target: $5.8
Stop Loss: Set a stop loss below $3.5.
📊 Monitor the price action for confirmation of support levels and adjust based on market dynamics to optimize the trade setup. #PENDLE #CryptoTrading #TradeSetup 🎯
PENDLE has reclaimed the 200-day Simple Moving Average (SMA) on the daily chart, as well as the broken horizontal support, now back in the range. This indicates a potential bullish trend.
Trade Parameters:
Entry: Enter a trade around the $3.9 support level.
Take Profit:
First target: $4.5
Second target: $5.2
Third target: $5.8
Stop Loss: Set a stop loss below $3.5.
📊 Monitor the price action for confirmation of support levels and adjust based on market dynamics to optimize the trade setup. #PENDLE #CryptoTrading #TradeSetup 🎯
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