Current Setup:
Pattern Formation: TON has formed a new narrow weekly pivot grid within the previous pivot grid, which can often indicate an upcoming uptrend in price.
Strategy: Wait for the price to find support before entering the trade.
Trade Details:
Entry Point: Enter a trade between $6.3655 and $6.4378.
Take Profit:
Primary: $6.7002
Secondary: Next area of resistance around $7.0837
Stop Loss: A candle close under $6.2680.
Risk Management:
Move Stop Loss to Break-Even: Once the price has moved 2%-4% away from the entry, adjust the stop loss to the entry level to ensure a break-even trade in case of unexpected market movements.
Summary:
Toncoin is showing signs of an uptrend with a new narrow weekly pivot grid. Enter the trade between $6.3655 and $6.4378, targeting $6.7002 initially and $7.0837 as the next resistance. Place a stop loss at a candle close under $6.2680 and move it to break-even after a 2%-4% price move from the entry to mitigate risk.
Pattern Formation: TON has formed a new narrow weekly pivot grid within the previous pivot grid, which can often indicate an upcoming uptrend in price.
Strategy: Wait for the price to find support before entering the trade.
Trade Details:
Entry Point: Enter a trade between $6.3655 and $6.4378.
Take Profit:
Primary: $6.7002
Secondary: Next area of resistance around $7.0837
Stop Loss: A candle close under $6.2680.
Risk Management:
Move Stop Loss to Break-Even: Once the price has moved 2%-4% away from the entry, adjust the stop loss to the entry level to ensure a break-even trade in case of unexpected market movements.
Summary:
Toncoin is showing signs of an uptrend with a new narrow weekly pivot grid. Enter the trade between $6.3655 and $6.4378, targeting $6.7002 initially and $7.0837 as the next resistance. Place a stop loss at a candle close under $6.2680 and move it to break-even after a 2%-4% price move from the entry to mitigate risk.
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.