TRXUSDT 4H - Buy the breakout (Inverse H&S)
Updated
Hi everyone,
As you can see, this pair is drawing a nice pattern, one of my favourites, a H&S, an inverse one and ascending. If a 4 hours candle can close above the neckline that would be in my opinion a decent entry in order to trade this pair. The ideal condition would be to wait for a retracement from current levels and see if bulls keep the momentum. Potential gains between 40% up to 50%, depending on the entry price.
This is a risky setup. I would exit the trade with a tight stop loss under the neckline or around 3-5% loss, depending on the conditions that the crazy crypto market will have at that moment.
*Not financial advise. Just sharing my ideas :)
Feel free to give your feedback/opinion. Thanks for reading!
As you can see, this pair is drawing a nice pattern, one of my favourites, a H&S, an inverse one and ascending. If a 4 hours candle can close above the neckline that would be in my opinion a decent entry in order to trade this pair. The ideal condition would be to wait for a retracement from current levels and see if bulls keep the momentum. Potential gains between 40% up to 50%, depending on the entry price.
This is a risky setup. I would exit the trade with a tight stop loss under the neckline or around 3-5% loss, depending on the conditions that the crazy crypto market will have at that moment.
*Not financial advise. Just sharing my ideas :)
Feel free to give your feedback/opinion. Thanks for reading!
Trade active
A 1 hour candle closed over the neckline.
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.