WAVES/USDT

🟢entry: $22.285-$20.665
❌stoploss: $19.530
🎯tp1: $35.960- $33.420

🔼potential %profit: +51.16%
🔽potential %loss: -14.68%
r/r: 3.49

Hi Everyone,

🌊after a deep retrace, waves is showing support at the 0.786 fib. with a potential break-out of a bullish falling wedge . volume has been gradually decreasing as the downtrend continues, which suggests to me that selling pressure is drying up and a potential reversal is imminent. if this trade idea is valid, i expect to see the increase in price accompanied by substantial increases in volume as well.

🌊after all the recently volatility in waves, i am very interested in taking another position in this market.

🌊i’m entering half at current market price and layering the other half of the orders from $22.285-$20.665.

🌊i’m placing the stop below the 0.786 fib with a bit of breathing room for a potential stop-run; i try to keep my stop-losses no greater than 15%, so i’ll set the stop-loss order at $19.530.

🌊i’m placing the target range at the order block that served as the first point of support during the recent deep correction, which is at $35.960- $33.420. this zone also coincides with the 0.5 fib.

Check back for updates as the position progresses.

Feedback and constructive criticism is always appreciated.

✌️All good luck and always practice strict risk management!