$CHESS: Positioning for an Explosive Breakout .
The market is heating up, and $CHESS is currently flashing a high-conviction long setup. Following a period of consolidation, the asset is showing signs of an explosive breakout, providing a clear opportunity for traders to capitalize on upward momentum.
Long Trade Plan for $CHESS
Entry Zone: 0.0175 – 0.0185
Stop Loss (SL): 0.0155
Take Profit 1 (TP1): 0.0205
Take Profit 2 (TP2): 0.0230
Take Profit 3 (TP3): 0.0260
Technical Outlook
The bias remains firmly bullish as long as $CHESS holds above the 0.0172 level. This pivot point is crucial for maintaining the current structure. A sustained move above the entry zone opens the door for a rally toward the primary targets, with TP3 representing a significant percentage gain from current levels.
Traders should watch for volume confirmation at the breakout point. Risk management is essential, with a stop loss placed at 0.0155 to protect against a trend invalidation.
Analysis By @SaleeM_MeYo
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