MKR/USDT (1H) – Rising Wedge Breakdown Potential
Market Overview:
The MKR/USDT pair is forming a Rising Wedge, a bearish reversal pattern. This suggests a potential downside move after a strong uptrend if the price breaks below the support level.
Key Technical Observations:
🔹 Rising Wedge Formation: The pattern consists of higher highs (HH) and higher lows (HL), signaling weakening bullish momentum.
🔹 RSI Bearish Divergence: The RSI indicates weakening buying pressure, increasing the likelihood of a correction.
Trade Setup:
📌 Sell Stop Entry: Below 1,157.1 (Wedge breakdown)
📌 Stop Loss: 1,273.9 (Above resistance)
📌 Take Profit 1: 1,100.6
📌 Take Profit 2: 1,026.6
Trading Plan:
✅ If the price breaks below 1,157.1, a short position is valid.
✅ Stop loss is placed above resistance to limit upside risk.
✅ Secure partial profits at TP-1 (1,100.6) and trail SL for TP-2 (1,026.6).
💡 Conclusion:
A confirmed Rising Wedge breakdown signals a potential bearish move. Traders should wait for a clear break below 1,157.1 before entering short positions.
📉 Trade smart & manage risk! 🚨
💬 What’s your view on MKR? Drop your thoughts in the comments! 🔥👇
The MKR/USDT pair is forming a Rising Wedge, a bearish reversal pattern. This suggests a potential downside move after a strong uptrend if the price breaks below the support level.
Key Technical Observations:
🔹 Rising Wedge Formation: The pattern consists of higher highs (HH) and higher lows (HL), signaling weakening bullish momentum.
🔹 RSI Bearish Divergence: The RSI indicates weakening buying pressure, increasing the likelihood of a correction.
Trade Setup:
📌 Sell Stop Entry: Below 1,157.1 (Wedge breakdown)
📌 Stop Loss: 1,273.9 (Above resistance)
📌 Take Profit 1: 1,100.6
📌 Take Profit 2: 1,026.6
Trading Plan:
✅ If the price breaks below 1,157.1, a short position is valid.
✅ Stop loss is placed above resistance to limit upside risk.
✅ Secure partial profits at TP-1 (1,100.6) and trail SL for TP-2 (1,026.6).
💡 Conclusion:
A confirmed Rising Wedge breakdown signals a potential bearish move. Traders should wait for a clear break below 1,157.1 before entering short positions.
📉 Trade smart & manage risk! 🚨
💬 What’s your view on MKR? Drop your thoughts in the comments! 🔥👇
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.