Long
⚡ MATIC Trade Setup ⚡
📊 Analysis:
Market Observation: Layer 2 coins, including MATIC, have shown notable performance recently.
Current Situation: MATIC is trading near resistance without a proper breakout.
Strategy: Plan for a long position upon a breakout above the upper resistance level.
Entry Point: Enter a long spot position when the price breaks above the upper resistance level at $1.25.
Take Profit: Target the next area of resistance between $1.50 - $1.60.
Stop Loss: Set a stop loss just below the breakout level, at around $1.20, to manage risk.
🌐 Note: Monitor the breakout closely and ensure it's supported by sufficient volume and confirmation before entering the trade. Adjust your strategy based on market conditions and price action.
Market Observation: Layer 2 coins, including MATIC, have shown notable performance recently.
Current Situation: MATIC is trading near resistance without a proper breakout.
Strategy: Plan for a long position upon a breakout above the upper resistance level.
Entry Point: Enter a long spot position when the price breaks above the upper resistance level at $1.25.
Take Profit: Target the next area of resistance between $1.50 - $1.60.
Stop Loss: Set a stop loss just below the breakout level, at around $1.20, to manage risk.
🌐 Note: Monitor the breakout closely and ensure it's supported by sufficient volume and confirmation before entering the trade. Adjust your strategy based on market conditions and price action.
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.
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.