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💎 Technical Analysis: Polygon (POL)
Market capitalization: $1.36 billion.
After active downward movements followed by upward ones, the POL chart has entered a consolidation phase again.
🟡 A classic scenario for breakout trading!
How to trade❔
💬 Sell on downward breakout: Entry: when breaking below the range.
Stop-loss: behind the nearest extremum above.
💬 Take-profit: before the next support level, but not at the very minimum – don't be greedy.
💬 Buy on upward breakout: Currently, the risk/reward ratio for a long position is unfavorable.
💬 If new extremes form for a shorter stop, the trade can be considered. We're waiting for a better signal.
Important:
Classic strategy on a breakout from consolidation. Patience and discipline are your main allies.
📈 Open a trade with $POL
🔗 Chat • X • JioCoinsX