Streamr (DATA) Trade Setup Update đš
I posted a trade setup at the end of September; however, we did not get our entry because DATA was rejected at the 0.046 resistance.
I still think this is the perfect future entry for a trade. However, DATA also offers intermediate trade setups.
đ Intermediate Setup
Since hitting the bottom in August, DATA has reversed and entered an uptrend. Driven by last Monday's correction, the token bounced off the trendline.
While there is a chance of another trendline test, DATA should move toward the 0.046 resistance mid-term againâresulting in a ~20% profit potential (based on the current price).
The stop loss should be slightly below the trendline, giving us a risk/reward ratio of ~3.
đ Playing it Safe
A safer but not immediate play is to wait for a break above the 0.046 resistance and confirmation. Once this happens, we should see a strong move towards 0.06 and 0.08, resulting in a 33% resp. 68% profit potential.
