LINK trade setup

8 нояб.

Weekly analysis


LINKUSDT was one of the winner of 2021 bull run.
After a 90% decrease since the last ATH, LINK built a strong and clear horizontal range which was broken in Octobre 2023 with a strong 300% upward movement. This proves the coin is still under investors' radars.

Current situation


Since this last Octobre surge, LINK has been consolidating and is now forming a reversal pattern just above the previous range resistance. This pattern seems to be coming to an end (ABCDE waves) with the current attempt to break out.

Strategy
Buy signal on the clear breakout and daily close above the 12,40$ horizontal resistance line.

• Objective 1: Next resistance 15$ (+15%)
  
• Objective 2: Last swing high at 22$ (+70%)
  
• Objective 3: ATH area at 35$ (+170%)
  

Invalidation
Mental Stop: just below the latest move upward at 12$ which would invalidate the breakout attempt.
This setup proposes a nice Risk Reward ratio.
If prices retrace to this stop level we will wait for the weekly closing price then set a Stop loss ¼ or Risk below the weekly close price.
Risk = Distance between Mental stop and entry point.

10 нояб.

Сделка активна

The expected buy signal was given on the 8th at around 13$
Now let's follow the trade closely.

12 нояб.

Заметка

Objectif 1 has been reach ✅

Time to take your first profit with +15%. Keeping the remaining portion for the next objectives.

3 дек.

Заметка

Objectif 2 has been reach ✅

Time to take another bit of profits with +70% gains.
Keeping the remaining amount for the next objective.