Many #Altcoins had local double tops after the recent run up which look like they could form W bottoms.
Scan your favorite coin and it likely created a local double top or ran into long term trend lines.
MATIC 4hr
Entry: 0.72-0.73
T1: 0.785
Top of the pattern which would become triple top if failure to break the neck line.
T2: 0.835
SL: 2-4% below entry based on risk
Set ups like this are great. If you get stopped out the trend is likely in full reverse so the R:R becomes even stronger & more appealing.🫡
Never trade with out a stop loss and plan.
Scan your favorite coin and it likely created a local double top or ran into long term trend lines.
MATIC 4hr
Entry: 0.72-0.73
T1: 0.785
Top of the pattern which would become triple top if failure to break the neck line.
T2: 0.835
SL: 2-4% below entry based on risk
Set ups like this are great. If you get stopped out the trend is likely in full reverse so the R:R becomes even stronger & more appealing.🫡
Never trade with out a stop loss and plan.
Trade active:
Keep an eye on this downward trend line. If MATIC (or alt market) can not sustain the momentum this is the spot I would watch for buyer fatigue.
Stop loss moved up to break even.
Stop loss moved up to break even.
Trade closed: target reached:
Target 1 and 2 achieved.
