Market Capitalization: $230M. The EGLD chart is in a very weak uptrend that looks more like a channel.
🟡 The price is currently declining, and a good opportunity to open a buy trade at the lower boundary of the trend may appear.
How to trade❔
💬 Wait for a reversal candlestick pattern near the support line – don't rush to enter too early!
💬 Place stop-loss behind this pattern – strictly and disciplined.
💬 Set profit target before the opposite channel boundary – this trade is very short-term with small targets.
💬 If price breaks the lower channel line – react to the breakout, but the profit/risk ratio remains the key to the decision.
Conclusion: Classic channel trading – if the pattern plays out, you can catch a technical bounce. But remember: short-term trades require strict discipline!
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🧝♂️ Technical Analysis: Elrond ( $EGLD )
Market Capitalization: $230M.
The EGLD chart is in a very weak uptrend that looks more like a channel.
🟡 The price is currently declining, and a good opportunity to open a buy trade at the lower boundary of the trend may appear.
How to trade❔
💬 Wait for a reversal candlestick pattern near the support line – don't rush to enter too early!
💬 Place stop-loss behind this pattern – strictly and disciplined.
💬 Set profit target before the opposite channel boundary – this trade is very short-term with small targets.
💬 If price breaks the lower channel line – react to the breakout, but the profit/risk ratio remains the key to the decision.
Conclusion:
Classic channel trading – if the pattern plays out, you can catch a technical bounce. But remember: short-term trades require strict discipline!
📈 Open trade with $EGLD 🔗 Chat • X • HRUMFAMILY