๐ Successful Technical Analysis in Practice! ๐
Today I want to share a trade that went exactly as I planned. I was closely following the cryptocurrency $SYN, and I noticed that a very clear trading channel had formed, with its highs and lows being respected.
I patiently waited for the price to give me a signal, and it didn't take long to arrive. When I saw two strong red candles, I interpreted that as the signal for a downward breakout. I decided to go short (down) at 0.1859000.
The strategy worked! The price continued its downward path, breaking the channel decisively. I closed the trade at 0.1825000, securing a profit of 3.08 USDT.
What can we learn from this trade?
Recognizing Patterns is Key: Identifying a trading channel and waiting for a breakout can be a very effective strategy. Technical analysis gives us clues about market movements.
Confirm Your Signals: I didn't enter just by seeing one red candle. I waited for two strong candles to confirm the bearish trend before taking my position.
Risk Management Also Applies to Profits: I took my profit in a controlled manner. The important thing is not to win a lot, but to win consistently and safely.
About $SYN: For those who donโt know it, SYN is the token of the Synapse protocol, a vital tool for interoperability between different blockchains. It is a project with solid foundations, but like everything in the market, it moves with its own rules.
What has been your most successful trade using technical analysis? I would love to read your stories in the comments!
#cryptocurrencies #trading #crypto #SYN #Synapse #technicalanalysis #tradinglessons #profits #investments #educacionfinanciera
