SKLUSDT trade ideas
SKALE Network (SKL) Buy ZoneSKALE Network (SKL) Buy Zone
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BIAS
Long-Term : Bullish
Risk : Low
With a low of SKALE Network has just retested one of our deepest mid term support zone at lower entry where buyers prevented it from going any lower.
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$SKL/USDT SPOT SETUP
Entry Price : 0.194 - 0.207
TP 1 : 0.2175
TP 2 : 0.2315
TP 3 : 0.2515
TP 4 : 0.2828
TP 5 : 0.316
TP 6 : 0.367
TP 7 : 0.3888
TP 8 : 0.437
Stop Loss : 0.165
*Stop Loss - SKL daily close below 0.165
*Maximum 3% of Portfolio.
*Unload 12.5% at each TP. Whenever TP 2 hits, Move stop loss to entry.
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SKLUSDT False Breakout wait for BuyzoneFalse Triangle breakout now on weekly support and going towards monthly support.
BuyZones:
0.28 (Major Support, 1M Support) (Buy Zone) 0.2650 (Buy Zone) 0.25 (Buy Zone) 0.24 0.2075 (Buy Zone) 0.19 (Buy Zone) 0.18 (Buy Zone) 0.1530 (Very Strong Major Support)
Take Profits:
0.38 0.4450 0.50 0.57 0.67 0.72 0.82
StopLoss:
15%
Legend:
🔴 Pink Structure -> Monthly Structure.
🟣 Purple Structure -> Week Structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4H structure.
⚪ Grey structure -> 1H structure.
SKL is oversold !!Just look at the graph, no need to understand any technicality.
Anyone can easily see how SKL is just so much oversold that it is at it's lowest mean level.
There's no way it can go down anymore, the only thing now remaining for it is just a bounce back and the first level to touch will be 0.2, but it is expected to touch 0.3-0.4 within a fortnight, as per my predictions
SKLUSDT1) Now SKLUSDT pair is in a very strong demand zone.
2) RSI is below 40.
3) Bullish ABCD pattern has formed.
4) According to the market structure now we have a LL position we can expect that market structure could change for a bullish market structure by making HH and HL positions.
5) For additional confirmation wait for the golden crossover happen and wait for the MACD crosses the signal line upwards.
**ALL OF THESE ARE EDUCATIONAL PURPOSES ONLY**
ready to jump Ascending Triangle: An ascending triangle is a breakout pattern that forms when the price breaches the upper horizontal trendline with rising volume. It is a bullish formation. The upper trendline must be horizontal, indicating nearly identical highs, which form a resistance level. The lower trendline is rising diagonally, indicating higher lows as buyers patiently step up their bids. Eventually, the buyers lose patience and rush into the security above the resistance price, which triggers more buying as the uptrend resumes. The upper trendline, which was formerly a resistance level, now becomes support.