Don’t chase this GRT breakout; wait for a pullback 💰
$GRT 15 On the 5-minute chart, after pushing above the 0.02057 resistance, it failed to hold and is now pulling back to 0.01978, which is right at the support zone below the breakout level. The last 2 K-lines closed above resistance, but price didn’t follow through, which suggests the bulls are still building momentum and this is not a false breakout.
I’m planning to go long near the current price, with a stop loss at 0.019299 (about 2.4% risk), the first target at 0.0201167, and the second target at 0.0204534, giving a risk-reward ratio close to 1:2.5. Below, support is at 0.018292; as long as that level doesn’t break, I’ll hold the trade. Don’t chase the upside—wait for a pullback confirmation before entering. Stay a bit more patient. #GRT #contract
$GRT 15 On the 5-minute chart, after pushing above the 0.02057 resistance, it failed to hold and is now pulling back to 0.01978, which is right at the support zone below the breakout level. The last 2 K-lines closed above resistance, but price didn’t follow through, which suggests the bulls are still building momentum and this is not a false breakout.
I’m planning to go long near the current price, with a stop loss at 0.019299 (about 2.4% risk), the first target at 0.0201167, and the second target at 0.0204534, giving a risk-reward ratio close to 1:2.5. Below, support is at 0.018292; as long as that level doesn’t break, I’ll hold the trade. Don’t chase the upside—wait for a pullback confirmation before entering. Stay a bit more patient. #GRT #contract