💬 On downward breakout: open sell. Stop-loss behind nearest maximum. Profit target equals the width of the sideways channel.
💬 Key point: profit/risk ratio is the determining factor. It will either push you toward the trade or away from it.
Conclusion: Classic strategy on repeating patterns. If the pattern confirms with a breakout from sideways, you can catch a good move with clear risk/reward ratio.
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💦 Technical Analysis: Flow ($FLOW )
Market Capitalization: $316.7M.
On the hourly chart, Flow demonstrates a textbook example of a downtrend.
🟡 Impulsive downward movement alternates with consolidation - price is currently in sideways mode.
How to trade❔
💬 Catch the price on breakout from the sideways channel.
The strategy is simple and effective:
On upward breakout: open buy.
💬 Stop-loss behind nearest minimum.
Profit target - before resistance level.
💬 On downward breakout: open sell. Stop-loss behind nearest maximum.
Profit target equals the width of the sideways channel.
💬 Key point: profit/risk ratio is the determining factor.
It will either push you toward the trade or away from it.
Conclusion:
Classic strategy on repeating patterns. If the pattern confirms with a breakout from sideways, you can catch a good move with clear risk/reward ratio.
📈 Open trade with $FLOW 🔗 Chat • X • HRUMfamily