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Uniswapsignals

UNISWAP → Failed to Break Out of Trading Range! Short Again!?Uniswap failed for the 4th time in 19 months to break out of the Trading Range between $4.00 and $7.30. Are we primed for yet another short? How do we trade this? 🤔 If you followed my last Uniswap analysis, there was a great 1:2 Risk/Reward short opportunity on the Daily chart: The initial chart failed to play out and was premature to the rip just above the trading range resistance at $7.30. The price soared to $8.25 then fell back into the range for another failed breakout. The trade from that failed breakout was a success! Now that we're back in the range, we need to wait for another sell opportunity to enter our short position. Zooming into the Daily candles, we need the price to pull back toward the trading range high around $6.90 and have another strong bear candle present itself: We also need to ensure that the RSI stays above 50.00 and ends up below the moving average, giving us proper support of the price action analysis to enter our short trade. Until then, it's best to wait on the sidelines for that setup. 💡 Trade Idea 💡 Short Entry: $6.85 🟥 Stop Loss: $8.55 ✅ Take Profit: $5.150 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Failed to Break out of Trading Range 2. Strong Bull Bar Closing Near its Low 3. Found Some Support at 30EMA 4. RSI at 54.00 on Moving Average 5. Watch Bitcoins Price Movements at $46,000. 💰 Trading Tip 💰 Trading Ranges are two-legged traps for both bulls and bears. When the price rises toward the trading range resistance in two legs, the bulls expect more but don't get it and drive the price down when their trades are exited. The same goes for the bears in the opposite direction. The probability of profit is higher when longing the bottom of a trading range and shorting the top. In the case of this Uniswap chart, this trading range started after a long bear run, so it's reasonable to have a bear bias and short the trading range until its broken successfully. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
COINBASE:UNIUSDShort
by TraderEngineering
UNIUSD Two levels for a short-term buyUniswap (UNIUSD) has been trading within a Bearish Megaphone pattern since the December 02 2021 High. It has been in a Bear Cycle since the May 05 2021 High. At the moment the price is testing (and so far being rejected on) the 1D MA50 (blue trend-line) which is unbroken since April 10. Last time we saw a similar 1D MA50 rejection on a downtrend with the 1D RSI on the same pattern, was during the May 05 - July 06 2021 formation. It was when the price got rejected on the 1D MA50 and formed straight after a Triple Bottom that eventually rebounded within the 0.618 and 0.786 Fibonacci retracement levels. It is possible that if the same pattern is repeated, it will make that Fibonacci test when the 1D MA200 (orange trend-line) is within. Right now we can only trade within the Bearish Megaphone, so either buy if the price closes above the 1D MA50 or if it makes a Triple Bottom within 3.60 - 3.35. The new Bull Cycle will most likely start when the price breaks above the Lower Highs trend-line from the All Time High. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
BINANCE:UNIUSDLong
by TradingShot
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