Trade No.2
$IDOL Trading plan
After the sharp correction, the H1 timeframe is forming a rising price trend. Combined with a mild resistance zone above, this is squeezing price into a very nice triangle, setting up for a strong move. The higher timeframes still look bullish, and IDOL is unlikely to cool off just yet.
But this is a highly volatile coin, and this triangle pattern often traps traders, so make sure to allow enough room for your stop-loss. There may be a quick sweep at the triangle’s lowest point before the price continues upward.
LONG Setup
Entry: 0.0196 - 0.0175
TP: around the previous high
Dream TP: one 2x candle
SL 0.0145
#100DaysChallenge
#100to1000Challenge
$IDOL Trading plan
After the sharp correction, the H1 timeframe is forming a rising price trend. Combined with a mild resistance zone above, this is squeezing price into a very nice triangle, setting up for a strong move. The higher timeframes still look bullish, and IDOL is unlikely to cool off just yet.
But this is a highly volatile coin, and this triangle pattern often traps traders, so make sure to allow enough room for your stop-loss. There may be a quick sweep at the triangle’s lowest point before the price continues upward.
LONG Setup
Entry: 0.0196 - 0.0175
TP: around the previous high
Dream TP: one 2x candle
SL 0.0145
#100DaysChallenge
#100to1000Challenge
