Ambrosus (AMB) - Breakout! New 60-day High!
Another day, another alt with a new high. In this case, Ambrosus's ascending triangle was confirmed with a breakout. Unfortunately, I was too late to spot this trade. Price is slightly too extended for my liking.
Ideally, I would employ a trend-following strategy by buying strength after a breakout (new highs) but given the risk-reward ratio offered by this trade, I'll trying to catch a lower time frame retracement and improve my R:R that way.
Ideally, I would employ a trend-following strategy by buying strength after a breakout (new highs) but given the risk-reward ratio offered by this trade, I'll trying to catch a lower time frame retracement and improve my R:R that way.
More importantly, from all the alts I've analyzed this is one leading in terms of price action. Very interested to see how the price behaves at this major resistance.
Would it break through? Would it consolidating above or below?
Stay tuned !