ANKR trade entry set up

5 dic 2023

Weekly time frame

• ANKRUSDT performed very well in the last bull run comparatively to the market.
  
• After a 90% decline from its ATH, ANKR formed a very clear support at the 0,017$ zone.
  
• In the beginning of 2023 ANKR witnessed a very strong momentum with volume and recorded a +285% increase. Since then ANKR evolved within its range [0,057$ - 0,017$]
  

Daily time frame

• After bouncing back on the support line at the beginning of 2023 and breaking the declining resistance from ATH alongside a volume increase, prices were rejected at the top of the range.
  
• ANKR is now consolidating below a multi-months resistance on the lower area of the bigger range.
  
• We can use this consolidation as a good trade entry set up if ANKR breaks it. This gives us an interesting risk, reward ratio.
  

Strategy
Buying on a daily close above 0,028$

• Objective 1: Resistance and double bottom target at 0,04$ (+40%)
  
• Objective 2: Top of the range at 0,057$ (+100%)
  
• Objective 3: ATH at 0,167$ (+480%)
  

Invalidation
Mental Stop: below the consolidation at 0,023$
If prices retrace to this level we will wait for the daily closing price then set a Stop loss ¼ or Risk below the daily close price.
Risk = Distance between Mental stop and entry point.

Let me know what you think!

20 feb 2024

Trade attivo

Yesterday daily prices closed just above our entry level, trade has just started

4 mar 2024

Nota

Objective 1 has been reached ✅!

Time to take some profits at +40% and keep the remaining portion for the next targets.

TO BE CONTINUED....

13 mar 2024

Nota

Objective 2 of 0.057 has been reached ✅!

Time to take some more profits at +100% from our entry point and keep the remaining portion for the next targets.

TO BE CONTINUED....