CRVUSDT
C&H formation on daily chart . Previous pump was also a C&H.
Entry after break out from .786 FIB Line ($0.817).
Stop Market Loss: $0.60
Entry: $0.82
T1 (33%) $0.95
T2 (34%) $1.20
T3 (33%) $1.33
Take profits along the way to secure your ROE. Don't be greedy with your position size. Only risk what you can afford to lose; 1% of trading account is highly recommended, no more.
Could also be good spot buy to hodl for bull run. As usual, DYOR.
Let me know what you guys think and if you traded with this setup.
Happy & Safe trading guys, cheers!
Comment:
Inaccurate C&H formations. Its not 2. Its just 1 imperfect C&H. The handle doesn't line up with the rim properly (higher low followed by higher high). This could generally lead to a reversal to the down side; however there is still adequate shape for it to follow through. For a small size position, a risk could be worth it, better to wait out the candles to see how it develops before setting up. We could still get a correction towards $0.60-$0.50, unlikely during this phase of the bull run but if BTCD rumbles as usual, it can happen. Be cautious, trade responsibly.