Hello traders, here's a trade setup to SAND in 4 hours TF. SAND is trending under a triangle that looks like an ascending triangle. Currently, the price got rejected from the upper trendline ($1.5) and possibly it will drop towards the $1.3 support range.
Perfect entry: $1.3 to $1.36
Stop Loss: $1.23
Target: $1.5+
The strategy will be to accumulate the bottom, sell 50% at the resistance and if SAND breaks out the resistance then re-enter at the retest ($1.5 to $1.54). If SAND gets rejected from the resistance ($1.5) then wait for the re-entry between $1.3 to $1.36)
This chart will get invalid if it breaks down below the $1.23 level.
Trade safely.
Perfect entry: $1.3 to $1.36
Stop Loss: $1.23
Target: $1.5+
The strategy will be to accumulate the bottom, sell 50% at the resistance and if SAND breaks out the resistance then re-enter at the retest ($1.5 to $1.54). If SAND gets rejected from the resistance ($1.5) then wait for the re-entry between $1.3 to $1.36)
This chart will get invalid if it breaks down below the $1.23 level.
Trade safely.
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SAND Update:
SANDBOX has entered our buying range. Now, all we need is a bounce back from the support level. We still have 2 hours for the candle to close. Make sure you enter only if there is a positive bounce. If you have already entered this trade then keep your SL at the given levels.
Trade safely.