SHIBUSDT 1D long setup; Broke and retest of TL and support zone
TA explained
SHIB did a complete pullback to the previous level of structure which was formed during the strong uptrend back in October. Now price broke the descending trendline and retested it on a price level which aligns with former support zone.
Targeting the FIB pullback levels of the correction. SL just below latest low.
Trade setup
Entry zone: 0.027143 - 0.030170
TP1: 0.043510
TP2: 0.049759
TP3: 0.058656
SL: 0.024999
RR: 8.73
Max leverage: 1
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MDSquared Crypto Lounge
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
SHIB did a complete pullback to the previous level of structure which was formed during the strong uptrend back in October. Now price broke the descending trendline and retested it on a price level which aligns with former support zone.
Targeting the FIB pullback levels of the correction. SL just below latest low.
Trade setup
Entry zone: 0.027143 - 0.030170
TP1: 0.043510
TP2: 0.049759
TP3: 0.058656
SL: 0.024999
RR: 8.73
Max leverage: 1
—————
MDSquared Crypto Lounge
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)