$CHESS Trade Setup - Key Levels to watch
Market trend is Bullish
Current Price: $0.0513
Bullish momentum is forming if the price shows strength above $0.0510 and breaks through the resistance zone near $0.052. This could lead to further upside.
Indicators of Bullish Momentum:
Price above $0.0510: Suggests accumulation and support at this level.
Break above $0.052: Could lead to a move toward $0.054 and higher targets.
Rising volume: Confirms buying interest, supporting the uptrend.
Trade Setup (Bullish):
Entry Range: $0.0510 – $0.0520
Target 1: $0.0530
Target 2: $0.0540
Stop Loss: $0.0500
Bearish Momentum for
$CHESS Current Price: $0.0513
Bearish momentum forms if
$CHESS struggles at resistance near $0.052 and fails to break above this level. A potential pullback or reversal could happen, signaling further downside.
Indicators of Bearish Momentum:
Price below $0.0510: Suggests failure to hold support and potential weakness.
**Resistance at $0.052: If price fails to break above this level, a bearish move toward $0.0500 is likely.
Declining volume: Indicates reduced buying pressure, confirming the pullback.
Trade Setup (Bearish):
Entry Range: $0.0510 – $0.0520
Target 1: $0.0500
Target 2: $0.0480
Stop Loss: $0.0530
In conclusion:
Bullish Momentum: Buy if price holds above $0.0510 and breaks through $0.052.
Bearish Momentum: Sell if price fails to break resistance at $0.052 and moves below $0.0510.
Buy & sell wisely!
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