LINK Bullish Breakout with Strong Momentum

19 janv.

For those who missed prior LINK long. A Risky Long Setup !

Breakout of a Trendline
The price has clearly broken out of a descending trendline, signaling bullish momentum.

Current Price Action
Entry appears near $26.18.
Stop loss is set around $23.29.
Take profit is placed at $32.79, providing a solid risk-to-reward ratio.

Volume and Momentum
The breakout candle suggests strong buying pressure, which is likely supported by high volume.

Trend Confirmation
The use of moving averages (possibly an EMA ribbon) suggests the price has entered an upward trend after a consolidation phase.

Risk-to-Reward Ratio
The setup seems to have a favorable risk-to-reward ratio of approximately 1:3, which is ideal for swing trades.

Key Considerations
Monitor for any pullbacks to retest the breakout zone near $25.80.
Keep an eye on broader market conditions and LINK-specific fundamentals for sustained momentum.
Adjust the stop loss to breakeven if the price approaches the $28–$29 range to protect profits.

20 janv.

Trade fermée manuellement

Traders adhering to disciplined risk management strategies could have secured a 20% profit with 10x leverage on this move. As per my rule, it’s essential to book partial profits at every 10% gain, adjust the stop-loss to breakeven, and let the trade run with reduced risk. In this instance, the price moved up by 20% before reversing, offering an opportunity to lock in profits and close the position at breakeven if the plan was followed. This approach ensures consistent returns while mitigating downside risks. Stay tuned for the next trade setup!