In the chart for the #PYTH/USDT pair , several key technical signals make this trade attractive:
1. Breaking the Descending Trend Line: As seen on the chart, the price has broken the descending trend line, which is a strong signal for entering the market. This indicates a possible start of a new uptrend.
2. Formation of Support Zone: The support level is marked at 0.3402, providing a reliable base for setting a stop-loss. This minimizes risks and allows for control of potential losses if the price returns to previous levels.
3. Potential Growth to Resistance Level: The take-profit level is set at 0.7610, offering an attractive risk-reward ratio. This means that the potential profit significantly exceeds the risk, making this trade appealing.
4. Increasing Trading Volume: Recent candles show an increase in trading volume, often preceding significant price movements. High volume confirms market interest and may indicate trend strength.
5. RSI Analysis: The RSI indicator is not in the overbought zone, indicating potential for further growth. This gives additional confidence that the asset is not overvalued and has room to move upwards.
Conclusion: Considering the technical analysis and identified signals, entering this trade seems justified. It's important to remember risk management and set a stop-loss at 0.3402 to limit potential losses. Trading always involves risks, so using technical analysis along with risk management strategies will help achieve optimal results.
___
P.S.
Hello, everyone! We decided to start a marathon and increase our capital from $2 000 to $2 000 000
We will be trading on sports in a manual format with stop loss and take profit.
Important ❗️👇
1. We do not sell training, signals, private channels or any other products. We are just recording our journey for the purpose of a public experiment.
2. Any investment in the crypto sphere can be completely lost. When we trade, we realize that we can lose everything, and if you trade, you also need to understand this.
3. We enter trades based on various data that may turn out to be wrong and lead to losses. None of the trades we enter is a guarantee of success.
👋 If you are interested in watching our experiment, we are glad to see you in our channel!
👀💲You can also watch all our trades and copy them. We have created an account for copy trading.
👉 Our sources
https://linktr. ee/In_Trade_MLN
1. Breaking the Descending Trend Line: As seen on the chart, the price has broken the descending trend line, which is a strong signal for entering the market. This indicates a possible start of a new uptrend.
2. Formation of Support Zone: The support level is marked at 0.3402, providing a reliable base for setting a stop-loss. This minimizes risks and allows for control of potential losses if the price returns to previous levels.
3. Potential Growth to Resistance Level: The take-profit level is set at 0.7610, offering an attractive risk-reward ratio. This means that the potential profit significantly exceeds the risk, making this trade appealing.
4. Increasing Trading Volume: Recent candles show an increase in trading volume, often preceding significant price movements. High volume confirms market interest and may indicate trend strength.
5. RSI Analysis: The RSI indicator is not in the overbought zone, indicating potential for further growth. This gives additional confidence that the asset is not overvalued and has room to move upwards.
Conclusion: Considering the technical analysis and identified signals, entering this trade seems justified. It's important to remember risk management and set a stop-loss at 0.3402 to limit potential losses. Trading always involves risks, so using technical analysis along with risk management strategies will help achieve optimal results.
___
P.S.
Hello, everyone! We decided to start a marathon and increase our capital from $2 000 to $2 000 000
We will be trading on sports in a manual format with stop loss and take profit.
Important ❗️👇
1. We do not sell training, signals, private channels or any other products. We are just recording our journey for the purpose of a public experiment.
2. Any investment in the crypto sphere can be completely lost. When we trade, we realize that we can lose everything, and if you trade, you also need to understand this.
3. We enter trades based on various data that may turn out to be wrong and lead to losses. None of the trades we enter is a guarantee of success.
👋 If you are interested in watching our experiment, we are glad to see you in our channel!
👀💲You can also watch all our trades and copy them. We have created an account for copy trading.
👉 Our sources
https://linktr. ee/In_Trade_MLN
Trade active
Trade closed: stop reached
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.
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.