BINANCE:AVAXUSDT Hello everyone 😃 Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it !
Currently, we have a consolidation that is channeling into support. Price usually bounces from these levels. 🔴 If this level is lost, it opens up the possibility of retracing back to 85-80. Otherwise, we should bounce here and break above the green dotted line and breaking the local market's structure of the consolidation. Strong candle above, re-test the level then target the weekly range high, would be the plan.
I would take the aggressive LONG from the bottom of channel and ride it as I mentioned above; But have to mention the importance of any rejection below this level, Which could lead the pair below our Weekly range !
📚 So you might ask your selves, Why would take the aggressive plan here in the middle of market's craps ? So let's a quick note below 👇🏼 - The pros of taking an aggressive trade : can allow you to position early, less chance of missing entry, etc, but the setup has a lower probability of success - The pros of taking a conservative trade : higher probability that the trade is successful (more conditions trigger) but can be more difficult to position.
So now you can find-out that I'm eying the possibility of catch the falling knife with a tight stop-loss as a candle close trigger ! So you need to manage your risks directly and I would suggest to point the support loss as a hold confirmation below $98...
Hope you enjoyed the content I created, You can support us with your likes and comments ! Attention: this isn't financial advice we are just trying to help people on their own vision.
I hope it will go smoothly as your trading plan bro :)
official_harris
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Good Good
TopTradingSignals
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Do you use RSI by any chance?
MadWhale
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wonderful coin with high potential and here i checked ur explanation and the chart and find it interesting for investment this coin was one of the best last year and this year we can expect more gain for the price
Helical_Trades
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@MadWhale, For sure It is one the bests right now !