SAND / TetherUSלונג
SAND swing trade setup
A little go at a swing trade.
SAND has been consolidating at this fib retracement level or the macro up trend for a while now. It hasnt gone lower which is a good sign.
On the lower time frame we can see this swing trade setup with a higher high, and potential higher low.
Stop will be below the lower low.
If it feels too risky here, you could go long on the break and retest of the resistance (sort of neckline here). (Option 2 that is)
Or you could even go long here, take any immediate profit and then sit on the neckline for re-entry.
One of my first goes at reading a swing trade so fingers crossed.
Just double checking the SAND/BTC pairing for good measure. It too looks like it has been consolidating without going lower. There seems to be a bullish divergence on the 1 day chart. Nice to see a bit of confluence as always with the BTC pairing.
SAND has been consolidating at this fib retracement level or the macro up trend for a while now. It hasnt gone lower which is a good sign.
On the lower time frame we can see this swing trade setup with a higher high, and potential higher low.
Stop will be below the lower low.
If it feels too risky here, you could go long on the break and retest of the resistance (sort of neckline here). (Option 2 that is)
Or you could even go long here, take any immediate profit and then sit on the neckline for re-entry.
One of my first goes at reading a swing trade so fingers crossed.
Just double checking the SAND/BTC pairing for good measure. It too looks like it has been consolidating without going lower. There seems to be a bullish divergence on the 1 day chart. Nice to see a bit of confluence as always with the BTC pairing.
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