Pendle Long Position Thesis
Emotion & Narrative:
Pendle has experienced a ~50% correction, presenting a strong entry opportunity. I believe Real-World Assets (RWA) will be a key narrative in the upcoming bull cycle, and Pendle is well-positioned to benefit from this trend.
Risk Management:
Entry: $3
Stop Loss: $2.46 (below the long-term trendline from January 2024)
Risk-to-Reward Ratio: 12
Take Profit: $9.8 (just below the psychological resistance at $10)
Leverage:
No leverage on this trade. The potential upside is substantial, and I prefer to minimize unnecessary risk.
Technical Analysis:
Support Bounce: Pendle has rebounded off a key support level on the weekly timeframe.
RSI Divergence: Hidden bullish RSI divergence is visible on the weekly chart.
Stoch RSI: Currently in oversold territory on the weekly timeframe.
MACD: Showing early signs of recovery this week (not yet confirmed).
Inverse Head & Shoulders: If Pendle reaches ~$7, it would confirm a bullish inverse Head and Shoulders pattern, with a projected target of $12. I plan to take out 80-90% of my position before this level to front-run the market.
Bearish View: Pendle remains in a downtrend and must close above $3.75 to confirm a trend reversal. If this happens, I will deploy more capital into the trade.
Emotion & Narrative:
Pendle has experienced a ~50% correction, presenting a strong entry opportunity. I believe Real-World Assets (RWA) will be a key narrative in the upcoming bull cycle, and Pendle is well-positioned to benefit from this trend.
Risk Management:
Entry: $3
Stop Loss: $2.46 (below the long-term trendline from January 2024)
Risk-to-Reward Ratio: 12
Take Profit: $9.8 (just below the psychological resistance at $10)
Leverage:
No leverage on this trade. The potential upside is substantial, and I prefer to minimize unnecessary risk.
Technical Analysis:
Support Bounce: Pendle has rebounded off a key support level on the weekly timeframe.
RSI Divergence: Hidden bullish RSI divergence is visible on the weekly chart.
Stoch RSI: Currently in oversold territory on the weekly timeframe.
MACD: Showing early signs of recovery this week (not yet confirmed).
Inverse Head & Shoulders: If Pendle reaches ~$7, it would confirm a bullish inverse Head and Shoulders pattern, with a projected target of $12. I plan to take out 80-90% of my position before this level to front-run the market.
Bearish View: Pendle remains in a downtrend and must close above $3.75 to confirm a trend reversal. If this happens, I will deploy more capital into the trade.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.