💎 Technical Analysis: Compound ( $COMP )
Market Capitalization: $350 million.
The COMP chart shows fairly high volatility with clear channel boundaries that can be traded.
How to trade❔
💬 Trading within the channel: Possible when receiving a reversal candlestick pattern near levels.
Place stops behind the levels, take profits in front of them.
💬 If you achieve a good profit/risk ratio, such a trade can be executed.
Trading a breakout upward: When the resistance level breaks, it's important to wait for the price to close above the level.
💬 Place the stop behind the level, take profit before the next resistance level.
Similar actions for a support breakdown.
Conclusion:
COMP provides opportunities for range trading. Volatility is a disciplined trader's friend!
📈 Open a trade with $COMP
COMPUSDT
Perp
30.67
-2.32%
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