Should the price of SANDUSDT proceed to break out from this falling wedge, it could present an opportunity for new long positions in line with Plancton's trading rules.
To execute a trade according to Plancton's rules, traders should consider the following steps:
Confirmation: Wait for a confirmed breakout from the upper resistance trendline of the falling wedge. Confirmation is essential to ensure that the price movement is sustained and backed by supporting factors such as increasing volume.
Technical Indicators: Employ relevant technical indicators, such as oscillators, moving averages, and trend confirmation tools, to gauge the strength of the potential breakout and assess the overall market sentiment.
Risk Management: Implement effective risk management strategies, including setting stop-loss levels and determining appropriate position sizes. This is crucial to manage potential losses in case the market movement doesn't align with expectations.
Market Context: Consider the broader market context, news developments, and any relevant factors that could influence the price of SANDUSDT.
Patience: Exercise patience and restraint, waiting for a clear and confirmed breakout before initiating a long trade. False breakouts can lead to losses, so cautious execution is vital.
–––––
Follow the Shrimp 🦐
Keep in mind.
To execute a trade according to Plancton's rules, traders should consider the following steps:
Confirmation: Wait for a confirmed breakout from the upper resistance trendline of the falling wedge. Confirmation is essential to ensure that the price movement is sustained and backed by supporting factors such as increasing volume.
Technical Indicators: Employ relevant technical indicators, such as oscillators, moving averages, and trend confirmation tools, to gauge the strength of the potential breakout and assess the overall market sentiment.
Risk Management: Implement effective risk management strategies, including setting stop-loss levels and determining appropriate position sizes. This is crucial to manage potential losses in case the market movement doesn't align with expectations.
Market Context: Consider the broader market context, news developments, and any relevant factors that could influence the price of SANDUSDT.
Patience: Exercise patience and restraint, waiting for a clear and confirmed breakout before initiating a long trade. False breakouts can lead to losses, so cautious execution is vital.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.