UNI → Continuing in the Trading Range! Short Here? Or Long Soon?Uniswap has failed to break out of the 19th-month trading range between $4.00 and $7.30 on four occasions. Should we continue to look for a short entry?
How do we trade this? 🤔
My previous Uniswap analysis showed a couple of good short entries just before and just after the price attempted to break the trading range resistance. Since then the price has fallen to the 30EMA and stagnated. We're currently in a situation where the proper distance to a stop loss is just above the previous high above the trading range resistance. We're also sitting on the Weekly 30EMA support and are lacking a sell signal.
Until we have a re-test and failure of the trading range resistance with a strong sell signal, it's best to wait on the sidelines. Even then, we should remain cautious in what will likely become a strong crypto market bull run this year into next year, so I only advocate for a 1:1 Risk/Reward scalp.
💡 Trade Idea 💡
Short Entry: $6.85
🟥 Stop Loss: $8.55
✅ Take Profit: $5.150
⚖️ Risk/Reward Ratio: 1:1
🔑 Key Takeaways 🔑
1. UNI has yet to break out of the 18-month trading range.
2. Finding some support at Weekly 30EMA.
3. Wait for the price to get closer to trading range resistance.
4. Short scalp position is reasonable taking profit just below the Weekly 30EMA
5. RSI at 53.00, just below the Moving Average, supports pullback, then fall.
💰 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!
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Unitrade
UNI/USDT: A Golden Opportunity for LONG TradeBINANCE:UNIUSDT just strated breakout from its long tested resistance in daily chart.
The price was reject at the resistance last 3 times and this time we see price breaking out from resistance (Breakout yet to be confirmed, it could be fakeout, wait for our confirmation before entering trade)
After this breakout we have an epic opportunity to for LONG trade with target price upto 20 USD.
Entry price: 6-6.2 range (we will update the idea once we enter the trade). wait for our confirmation.
Stoploss: 4.00
TP1: 7.0
TP2: 9.0
TP3: 12.5
TP4: 15
TP5: 19
Stay tuned for trade confirmation and more updates.
Please like and share your thoughts in the comments.
Cheers
GreenCrypto
UNITRADE: 200-600%Hello Traders and Investors,
Unitrade is looking very bullish. This token is only a 11M market cap, so there is a lot of room for growth. We can see after a huge drop from ATH we have entered an accumulation phase. We do see a higher lows forming along with a nice bull flag above new support as well.
But majority of cryptocurrencies are very risky, so be careful. This is not financial advice.
Let me know what you think.
Unitrade runs, let's try again!The first run failed for market dynamics, where btc and eth went down and dragged the rest behind. With the launch of the platform, such a move may be possible.
Waiting for a break up in the TRADE priceStrong movement of unitrade which is about to draw a possible upward trend
If ETH continues to fall, it could change the upside outlook and invalidate the chart drawn.