FTM High Risk Possible Trade Setup.
Possible CUP & HANDLE pattern forming. The recent pump was with good volume. RSI & MACD has space to come down ( to make the handle ) and bounce back.
Safest Long entry is IN CONFLUENCE with 200EMA on 4H timeframe. Also the IDEAL BREAKOUT TARGET is around the 200EMA of 1D timeframe.
The STOP LOSS is kind of big cause of those big wicks.
USE PROPER POSITION SIZING AND TAKE ENTRY IN PARTS if you are taking entry.
Risk to Reward ratio: 8.78% vs 64%
Non Financial advise. Trade at your own risk. Do your own reaserch.
Possible CUP & HANDLE pattern forming. The recent pump was with good volume. RSI & MACD has space to come down ( to make the handle ) and bounce back.
Safest Long entry is IN CONFLUENCE with 200EMA on 4H timeframe. Also the IDEAL BREAKOUT TARGET is around the 200EMA of 1D timeframe.
The STOP LOSS is kind of big cause of those big wicks.
USE PROPER POSITION SIZING AND TAKE ENTRY IN PARTS if you are taking entry.
Risk to Reward ratio: 8.78% vs 64%
Non Financial advise. Trade at your own risk. Do your own reaserch.