Ticker: $CHESS (Tranchess)
Type: DeFi asset; often low to mid cap
Behavior: Prone to sudden pumps with volume surges, often following narratives like staking yield or protocol updates.
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📈 When to Take a LONG Position:
> Look for this setup if you expect price to go up.
Price above 200 EMA on 4H or Daily chart
Bullish breakout from descending resistance
RSI > 50 but not overbought (>70)
Strong volume spike
Support confirmation (e.g. bounced off a major level like $0.16 or $0.18)
📌 Entry Zone (example): If it reclaims a key level like $0.20 with strong volume
🎯 Targets: $0.22 / $0.25 / $0.30
🛑 Stoploss: Below last support (e.g. $0.18)
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📉 When to Take a SHORT Position:
> Look for this setup if you expect price to go down.
Failure to break resistance on multiple attempts (e.g., stuck under $0.22)
Bearish divergence on RSI or MACD
Breakdown below support with volume
Price below major moving averages
📌 Entry Zone (example): Breakdown below $0.18 with confirmation
🎯 Targets: $0.165 / $0.15
🛑 Stoploss: Above breakdown zone (e.g. $0.19)
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🧠 Smart Strategy:
If you're unsure about direction:
Scalp trade in smaller timeframes (e.g., 15min–1H) using momentum indicators (MACD crossover, RSI bounce from 30 or rejection at 70)
Wait for confirmation candle — don't chase green pumps blindly.
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