WLD / TetherUSLong
WLD trade setup
Updated
Long term analysis
WLDUSDT witnessed a powerful bullish wave between July 2023 and March 2024. A corrective wave (around -90%) followed and formed a consolidation range on the weekly time fram. This range has formed an inverted Head and Shoulder pattern. The narrow Bollinger bands and the recent golden cross hint at a potential explosive move.
Strategy
Buy on the break of the H&S pattern neck line at 2.50$ or wait for a daily close above the weekly Bollinger Bands:
Invalidation
Mental Stop: below the last low of 2.12$
If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the daily close price.
WLDUSDT witnessed a powerful bullish wave between July 2023 and March 2024. A corrective wave (around -90%) followed and formed a consolidation range on the weekly time fram. This range has formed an inverted Head and Shoulder pattern. The narrow Bollinger bands and the recent golden cross hint at a potential explosive move. Strategy
Buy on the break of the H&S pattern neck line at 2.50$ or wait for a daily close above the weekly Bollinger Bands:
- Objective 1: back to the next resistance at 4.25$ (+70%)
- Objective 2: Following resistance at 6.5$ (+160%)
- Objective 3: ATH at 12$ (+380%)
Invalidation
Mental Stop: below the last low of 2.12$
If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the daily close price.
Trade active
Buy signal just flashed, let's monitor the tradeTrade closed: stop reached
WLD was very close (1% short) to our first objective. The price then retrace and triggered our protective stop at 3.45$. Market exit around 35% for this trade.
Let's move on and focus on our next opportunities.
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