Hello friends, in my previous post I was undecided about two currencies, CARR and TEL, in the end I decided on TEL, it gave me more security, if you did not see my previous publication here I leave you the link: Technical Analysis # 002 - CARR and TEL vs. USDT in 4H - 31-08-21. Apart from TEL, I took another trade, a currency that I have been following for a long time, AXS against the USDT pair. First of all I remind you that this post is not an investment advice, I am not a financial advisor, therefore if you invest YOUR money it is YOUR responsibility, without further ado, let's get started.
TEL/USDT 4H:
As I mentioned in the previous post, there was a possible descending wedge, with which the volume accompanied the figure, had marked the possible Targets of said wedge, my entry was made at 0,02146645.
As you can see, the price is moving quite well, it is already closer to Target 1, at this moment I have approximately 10% of gains, the break of the wedge occurred without much volume, so the upward movement does not have much strength that let's say, and at this moment I see that the price has been struggling to go up a little, my SL to ensure profits, is more or less at the EMA55 (Yellow) which is between 4% and 5% from my entry, if the price continues to rise then very well and if it goes down I will leave I will not have any worries since I have my earnings assured.
AXS/USDT 4H:
In AXS, I see a triangle, I would not know if it is symmetrical or not, but it is wedge-shaped, only in this case it is even towards the right side, it is not ascending or descending, I will take it as a symmetrical triangle, with which it could be the continuation of the previous movement, which in this case is bullish.
I made my entry a little early perhaps, but nevertheless I have faith that the currency will break higher to seek $ 80 and more, the Target-1 of this triangle is at approximately $ 84, which would leave me a good profit, my SL is between 6% and 8% from my entry.
With the SQZMOM, it gave me entry in the vertical white line, for which I had already made my entry, since I had gone to the one hour graph to look for it. I will make another post with the closing of both trades, as they are positions that I make by analyzing the 4H chart, it is most likely that between today and tomorrow it will be leaving AXS, and from TEL it is possible that I will close the position today.
Note: Images obtained directly from TradingView.
Well friends, that's all for now, I will be making another post with the advances or closings of the trades that I will be doing, if you liked the post, give it a like and follow me, if you have any constructive criticism let me know in the comments. Until next time.