CHESSUSDT trade ideas
#CHESS/USDT#CHESS
We have a bearish channel pattern on a 1-hour frame, the price moves within it and adheres to its limits well
We have a green support area at 0.1773 after the price touched it and bounced from it
We have a tendency to stabilize above moving average 100
We have an uptrend on the RSI indicator that supports the price higher
Entry price is 0.1830
The first goal is 0.1949
The second goal is 0.2000
The third goal is 0.2070
CHESS to print a 2000% move?On the above weekly chart price action has corrected 96% since late 2021. A number of reasons now exist to consider a long position, including:
1) Price action and RSI resistance breakouts.
2) Support and resistance. Price action prints multiple weekly candles on past resistance. Oh yes.
3) Regular bullish divergence. Multiple oscillators print positive divergence with price action as measured over a one month period. This includes money flow.
4) The falling wedge forecasts a 2600% move from the breakout point as measured from the lowest and highest touch-points (blue circles).
Is it possible price action corrects further? Sure.
Is it probable? No.
Ww
Type: Trade
Risk: <=6%
Timeframe for long: Yesterday
Return: 20-25x
Chessusdt Trading opportunityCHESSUSDT appears to be trading within a descending channel formation, it seems to have completed a five descending legs. This observation gives us a strong bullish bias for the coin, as we are now anticipating a breakout to the upside in the near term.
To capitalize on this potential upward movement, we have identified a possible accumulation zone. This zone is selected based on historical support levels and the lower boundary of the descending channel, which traders may consider as an entry point for long positions. To manage the inherent risks of trading, we suggest placing a stop loss just below the most recent swing low within the channel.
Furthermore, we have outlined specific profit target levels on the chart. These targets are based on key resistance levels that could be encountered as the price ascends post-breakout.
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#CHESS/USDT - Long - Potential 27.71%Strategy: Long
Exchange: BINANCE
Account: Spot
Entry mode: Market order in range
Invest: Risk 1%
Exit:
• ⎿ Target 2 : 0.4033 26.82%
• ⎿ Target 1 : 0.3462 8.87%
Entry: 0.3180 ⌁ 0.3180
• ⎿ Current market price: 0.318
Stop: 0.2867 (-9.84%)
Technical indicators:
Cup and handle break (common this cycle), RSI momentum and resistance break.
• ⎿ 24h Volume: 9919246.98593
• ⎿ Satoshis: 0.318
• ⎿ Analysis: TradingView
CHESS LOOKS BULLISHIt seems that the large diametric has finished. Now it has entered a valuable wave.
It can move towards the TPs while maintaining the green range.
Closing a daily candle below the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
CHESS / CHESSUSDTGood Luck >>
• Warning •
Any deal I share does not mean that I am forcing you to enter into it, you enter in with your full risk, because I'll not gain any profits with you in the end.
The risk management of the position must comply with the stop loss.
(I am not sharing financial or investment advice, you should do your own research for your money.)
CHESS/USDT Gearing Up for a Bull Rally? 👀🚀 CHESS Analysis 💎Paradisers, turn your attention to #CHESSUSDT, as it's signaling a potential for a noteworthy move from a crucial demand level.
💎 #Tranchess is charting an upward course, indicating a likely bullish departure from its current demand zone. We're looking at a potential retest of the demand level at $0.17, with a significant supply zone on the horizon. If #CHESS holds firm above this mark, it may set the stage for an ascent toward the major supply zone at $0.26.
💎If #CHESS encounters difficulties in holding above the support level, a reassessment of our trading approach might be necessary. In that event, we would consider initiating a bullish movement from a lower bullish Order Block (OB).
💎Monitoring this level closely is essential, as dropping below it could initiate a considerable bearish trend.
💎Stay vigilant and ready to adapt, Paradisers. Your ParadiseTeam is committed to offering the latest insights and strategic advice, ensuring you're primed to effectively tackle these market developments.
Tranchess (CHESS)On the above 1-day chart price action corrected 95% since last September. A number of reasons now exist to be long, including:
1) The ‘incredible buy’ signal.
2) Price action and RSI resistance breakout.
3) Price action price prints a higher low on the golden ratio. Fantastic.
4) Volume. Regardless of the price action volume accumulation continues.
5) On ‘what if’ list and already meets all conditions.
Is it possible for price action to fall further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: 1 to 3 months
Return: no idea
3-day chart
CHESSUSDTNov 20
"As we enter the bullish season, the initial target to aim for is
target : 2.4 🎯.
This is based on a combination of technical analysis indicators and market trends.
However, it's important to approach trading with caution and adapt to changing market
conditions.
Keep an eye on key support and resistance levels, as well as any significant news or events that may impact the market.
Remember to use proper risk management techniques and consider setting profit targets along the way.
Happy trading!"