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COMP / TetherUS

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COMPUSDT trade ideas

COMP: Resistance BreakoutTrade setup : Price is in an Uptrend. Following a bullish breakout from a Symmetrical Triangle, price has also broken above $60 to signal continuation of uptrend, with +15% upside potential to $68-70. Price is now retesting that breakout. Stop Loss (SL) at $55. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral). MACD Histogram bars are declining, which suggests that momentum is weakening. Support and Resistance : Nearest Support Zone is $47 (previous resistance), then $36. The nearest Resistance Zone is $60, then $68 - $70 and $80.
Long
by altFINS
1
COMP Manipulation in Horizontal Accumulation 🔄💰Compound (COMP) has been engaged in an extended period of trading within a well-defined horizontal accumulation range, featuring clear boundaries at both the upper and lower ends. This characteristic setup provides ample opportunities for significant players to manipulate the market, given the presence of hidden stop-loss orders. The recurrent strategy involves strategic sweeps of either boundary, leading to notable reversals. The current anticipation is for a retest at $35, facilitating a sweep of the lower boundary and paving the way for an upward move towards the initial target at $68. 🔄 Dynamics of Horizontal Accumulation: COMP's extended trading within a horizontal accumulation range establishes distinct upper and lower boundaries. This structure creates an environment conducive to market manipulation, particularly by significant players seeking to exploit hidden stop-loss orders within the range. 🎯 Stop Loss Hunting Strategy: The dynamics of COMP's trading involve a strategic approach known as "stop-loss hunting." This strategy capitalizes on the formation of liquidity pools at the upper and lower boundaries, encouraging traders to place stop-loss orders within these levels. The subsequent sweeping of one of these boundaries triggers the stop-loss orders, leading to market moves. 🚀 Execution of Strategic Sweeps: COMP executes strategic sweeps by intentionally triggering stop-loss orders at either the upper or lower boundary of the horizontal accumulation range. Each sweep has been historically followed by a significant market reversal, allowing players to capitalize on the ensuing price movement. 🔍 Anticipated Retest and Upward Move: The current expectation is for COMP to retest the $35 level, providing an opportunity for a sweep of the lower boundary. This strategic move aims to clear out stop-loss orders and set the stage for an upward trajectory. The initial target for this upward move is set at $68. 💡 Trading Considerations: Traders observing COMP should be mindful of the stop-loss hunting strategy at play. The retest at $35 could serve as a crucial juncture for potential market manipulation and subsequent upward movement. Implementing effective risk management strategies is paramount for navigating such market dynamics. 🔮 Future Outlook: The technical analysis suggests that COMP's trading behavior within the horizontal accumulation range provides strategic opportunities for market manipulation. Traders should closely monitor the retest at $35 and be prepared for potential moves as COMP aims to sweep the lower boundary and target $68. The cryptocurrency market's dynamic nature emphasizes the importance of adaptability and risk management in trading decisions.
Long
by AlexWhale
COMP/USDT | Compound |1D 👀Aggressive buying in the range of $30-50, with a long-term outlook! The allocated amount for the trade should not disrupt your risk management and portfolio management. In 2024, I believe all strategies will be effective, especially averaging down. Averaging down works in any trend; there's a high probability that after a certain period, you'll be in profit. The idea I'm conveying is that the timing of the purchase is more important than the buying price. It's about the market's predisposition to grow globally. - Not financial advice, trade with caution. ✅ Stay updated on market news and developments that may influence the price of Compound. Positive or negative news can significantly impact the cryptocurrency's value. ✅ Exercise patience and discipline when executing your trading plan. Avoid making impulsive decisions driven by emotions, and adhere to your strategy even during periods of market volatility. ✅ Remember that trading always involves risk, and there are no guarantees of profit. Conduct thorough research, analyze market conditions, and be prepared for various scenarios. Trade only with funds you can afford to lose and avoid excessive risk-taking. #Crypto #Compound #Investing #COMP
Long
by Nyskohuz
COMP SHORT SETUPAn ABC is seen which appears to have been a bearish triangle wave B. Now it seems that you are in the final wave of this triangle, i.e. wave e of B The red box is expected to drop towards the specified targets. I put the targets on the chart. Closing a 4-hour candle above this 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
Short
by behdark
1