Yes! You did read the title correctly!
A massive trade potential for a 193% ROI and a 16:1 risk/reward ratio with this setup!
I'll admit that I mistakenly thought I had posted this chart, so apologies for the late post. Full disclaimer, I am already in a position. But, should price retrace back to the consolidation zone and bounce, this will be the TRADE OF THE MONTH!!!
Follow on TradingView: https://goo.gl/8Yy9Jw
Reasons why I have entered a LONG position:
- DAILY breakout triangle has formed with a clear consolidation zone
- Increase in volume prior to break out of consolidation zone
- Smaller time frame patterns have reach upside targets
- High return on investment (193%) with 16:1 risk/reward
- Buy low / sell high
There is still opportunity to ride this potential wave but do not FOMO in now. Wait for a retracement back into the consolidation zone for a low risk entry. Should that not occur, any smaller time-frame breakouts are to be bought with trailing stops for the low risk traders.
Welcome your comments on my trade analysis.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
