Hi friends, hope you are well and welcome to the new update on Tranchess (CHESS) token
Triangle and key resistance:
On a daily time frame, since Oct 2021 the priceline of Chess was moving in a triangle. Finally, the priceline broke out the resistance of this triangle after more than 2 months. There was also a key resistance at $2.15 and Chess has also broken out this resistance as well. Now $2.15 can turn into strong support and there is a possibility that the priceline may re-test this resistance as support for the next move. Once this retest will be successful then a long-term bull run can be started. There will be upcoming resistance levels at $3.90 and $8.17. We can also set our sell targets according to these resistance levels as well.
Bullish Gartley move:
On a daily time frame, CHESS has also formed a bullish Gartley pattern.
In order to trade this Gartley pattern the targets can be as below:
Buy between: $2.676 to $1.744
Sell between: $3.984 to $5.367
Stop loss:
Stop-loss can be set below the maximum extent of buying zone which is $1.744
Possible profit and loss ratio:
As per the above targets, this trade has a huge profit possibility of up to 207% and a high loss possibility is 35%.
Don't forget to upvote/tip and share the post, thanks
You can also support my work at Patreon for more ideas:
https://www.patreon.com/moon333
In order to play and watch the current performance of the chart you need at least a free account on tradingview:
https://www.tradingview.com/gopro/?share_your_love=moon333
KuCoin is one of the best exchange to find crypto gems:
https://www.kucoin.com/ucenter/signup?rcode=rJSDVT3
Link for Binance exchange, to trade crypto:
https://www.binance.com/?ref=11256882
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
▶️ 3Speak