Hi all,
Why I see an opportunity
LINA broke through the resistance yesterday.
The retest area corresponds nicely with the Fibonacci level
With the current bullish sentiment, I am waiting for a retest as final confirmation before entering the trade. For this, I keep an eye on the price action on lower timeframes. (I don't set a buy limit).
Possible Disadvantages
- Retest can also be higher so we miss the boat
- The leverages traders (including me) are being tricked with a false breakout.
Always do your own research and use proper riskmanagement
Why I see an opportunity
LINA broke through the resistance yesterday.
The retest area corresponds nicely with the Fibonacci level
With the current bullish sentiment, I am waiting for a retest as final confirmation before entering the trade. For this, I keep an eye on the price action on lower timeframes. (I don't set a buy limit).
Possible Disadvantages
- Retest can also be higher so we miss the boat
- The leverages traders (including me) are being tricked with a false breakout.
Always do your own research and use proper riskmanagement
Comment:
Put your SL to breakeven if the price reaches 0.074-0.075