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MKRUST trade ideas

a trading channel on makertest purpose please do u own research before entering this trade. still trying to learn new things in the trading world here is one of my first TA. a small trading channel on maker for short period. I see an opportunity to take a short on the way down if the trend holds. if the channel holds his support at the bottom I am going to take a long to the upper trend line of the channel with some tp's the way up to minimize the risk. please leave some support down for some feedback.
Long
by nikknick12
MKR// Ascending TriangleMKR has been slowly but surly climbing up on its trend line and finding resistance at the 38% level. Price has printed an Ascending triangle. MKR has been riding the BTC momentum and withstanding the dips holding its main areas of support. What I expect to happen is, when BTC creates new ATHs, MKR will likely follow with momentum, breaking the key resistance level and find support. The safest way to trade these triangles is to wait for the retest of the zone, or attempt to find an entry on the pullback after the break of the resistance. If you've paid attention to any ALTs this week or some of the ALTs I've posted youll realize that IMO, some of these tokens are being pumped/manipulated in one way or another. Therefore, when trading, it is best to always use a stop-loss, and then protect your downside, meaning take your profit as you go, or set your SL above breakeven. Let me hear your thoughts!
by N0ST0PL0SS
MKRUSDT (MKR) - UPDATE ANALYSIS 🔎 - MKRUSDT brokeout above the descending triangle's inclined resistance and hit an ATH . - The market then retraced for a retest of the flip horizontal support (S1) and fibonacci retracement levels. - A bullish pin bar (hammer) was formed at the retest area. - Price action is printing a descending triangle pattern . - There's a possible uptrend continuation. BUY ENTRY ⬆️ - Breakout above the descending triangle's inclined resistance. TARGETS 🎯 - Horizontal resistance level (R1). - ATH resistance - Fibonacci extension levels. SETUP INVALIDATION ❌ - Breakdown below the descending triangle's horizontal support.
Long
by Chibuike_Odoh
MKRUSDT (MKR) - UPTREND CONTINUATION ANALYSIS 🔎 - MKRUSDT brokeout above the descending triangle's inclined resistance and hit an ATH. - The market then retraced for a retest of the flip horizontal support (S1) and fibonacci retracement levels. - A bullish pin bar (hammer) was formed at the retest area. - Price action is printing a symmetrical triangle pattern. - There's a possible uptrend continuation. BUY ENTRY ⬆️ - Aggressive entry (risky) : current market price (now). - Conservative entry : breakout above the symmetrical triangle's inclined resistance. TARGETS 🎯 - ATH resistance - Fibonacci extension levels. SETUP INVALIDATION ❌ - Breakdown below the symmetrical triangle's inclined support.
Long
by Chibuike_Odoh
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