Hey guys,
RIOT seems to be on the brink of breaking either up or down. I will play the following scenarios as they unfold.
1. The price will bounce off the bottom and visit the upper line, -> tight stop loss.
2a. The price will break down once we see a strong crossing of the lower dashed line (red)
2b. The price will break to the upside with major volume once we see a strong crossing of the upper dashed line (green) which has acted as heavy support in the past.
No financial advice, just my personal opinion. I take these trades tho ;)
RIOT seems to be on the brink of breaking either up or down. I will play the following scenarios as they unfold.
1. The price will bounce off the bottom and visit the upper line, -> tight stop loss.
2a. The price will break down once we see a strong crossing of the lower dashed line (red)
2b. The price will break to the upside with major volume once we see a strong crossing of the upper dashed line (green) which has acted as heavy support in the past.
No financial advice, just my personal opinion. I take these trades tho ;)
Note
-Price bounced from lower triangle line-Price did not continue much upward movement on a decent breakout
-Will short a decent break of the red dashed line
Note
We crossed the lower dashed line (red) so I'm short. My S/L is going to be 50.51Note
Moved my stop to 45.12 -> Risk is at zero by nowNote
Will take half of my position off the table right here -> 39.45 since the price bounced last time we dipped into this area.
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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.