This chart displays a potential reversal long entry at a key support level, attempting to capitalize on a relief rally after a heavy downtrend.
Trade Details:
Position: Long
Entry Price: $18.80
Stop Loss: $18.34
Take Profit: $21.08
Risk-to-Reward (RRR): ~5.06
Timeframe: Not specified (likely 1H or 4H)
Setup Rationale:
AVAX is showing possible signs of bottoming after sustained bearish pressure.
The trade banks on a bounce from horizontal support ($18.80 zone).
Strong RRR suggests a low-risk, high-reward profile.
Current red candle could act as a liquidity sweep before reversal.
Conclusion:
This is a counter-trend long play aiming to catch a bounce with tight risk management. Traders should confirm with volume/RSI divergence or bullish price action before full conviction.
Trade Details:
Position: Long
Entry Price: $18.80
Stop Loss: $18.34
Take Profit: $21.08
Risk-to-Reward (RRR): ~5.06
Timeframe: Not specified (likely 1H or 4H)
Setup Rationale:
AVAX is showing possible signs of bottoming after sustained bearish pressure.
The trade banks on a bounce from horizontal support ($18.80 zone).
Strong RRR suggests a low-risk, high-reward profile.
Current red candle could act as a liquidity sweep before reversal.
Conclusion:
This is a counter-trend long play aiming to catch a bounce with tight risk management. Traders should confirm with volume/RSI divergence or bullish price action before full conviction.
Trade active
Move Stop LOSS to Entry. Free of Risk.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.