RUNE Long Trade Idea

This is a possible long trade set up for RUNE

Upside Potential: 20+% (Without Leverage)
Downside Risk: 6% (Without Leverage

Enter Trade: 17.50 (Once an Hour Candle Close Above the green line)

Stop Loss: 16.40

Take Profit: Between 19.00 & 19.35
Price Target: Between 20.70 & 21.20

Resistance is between: 16.75 & 17.25

Once the resistance zone gets broken, it will then become our support, and therefor I would set a stop loss under it.

Support Zone 1: Between 15.75 & 15.40
Support Zone 2: Between 15.40 & 13.85

EMA Ribbon is currently bullish and the 200 EMA is at 14.00 which indicates strong support above 14.00

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تعليق:

Right now Rune is trading at the bottom of the support zone.
This could be a good time to enter a long position, with a stop loss at 13.85.
If support holds up there is good upside from here, and if it fails to hold the stop loss would trigger with minimal damage.