NEAR / EURO
⌛️Potential Parallel Channel Break Out
✅ Good Risk:Reward for small/medium position
✅ OBV has broke above key resistance line
✅ Volume spikes previously indicated move up
Ideally, waiting for a break above the parallel channel is the safest entry or waiting for a bounce from the 10W SMA (blue line).
Folks just look how accurate and useful the On Balance Volume (OBV) has been on this chart. I have been using it a lot more lately, and intend to in the future.
Easily could see a pull back before any breakout and we could easily break down below 10 week SMA so my so my stop is placed at $3.80 (-30%). This is a small position trade so I cant lose a lot here but I could 4x that small position into something so that's the potentially against s 30% loss.
Just for the record I could change my mind and exit early or allow for a quick puncture of the stop if I thought it was a stop hunt.
I will follow this tweet with how this chart looks on the ETH pair, because it could present an opportunity to increase your ETH at present if it continues to outperform ETH.
PUKA
NEAR
€NEAR #NEAR #NEARProtocol
⌛️Potential Parallel Channel Break Out
✅ Good Risk:Reward for small/medium position
✅ OBV has broke above key resistance line
✅ Volume spikes previously indicated move up
Ideally, waiting for a break above the parallel channel is the safest entry or waiting for a bounce from the 10W SMA (blue line).
Folks just look how accurate and useful the On Balance Volume (OBV) has been on this chart. I have been using it a lot more lately, and intend to in the future.
Easily could see a pull back before any breakout and we could easily break down below 10 week SMA so my so my stop is placed at $3.80 (-30%). This is a small position trade so I cant lose a lot here but I could 4x that small position into something so that's the potentially against s 30% loss.
Just for the record I could change my mind and exit early or allow for a quick puncture of the stop if I thought it was a stop hunt.
I will follow this tweet with how this chart looks on the ETH pair, because it could present an opportunity to increase your ETH at present if it continues to outperform ETH.
PUKA
NEAR
€NEAR #NEAR #NEARProtocol