$TAG
Another trade lesson for you guys. Today I sold TAG with 12% profit. A good scalp trade to study. Let's get started.
First, on the daily timeframe, I saw that TAG is trading inside a range (check first screenshot). So, I made a red box around it. At that time, the price was in the middle of the range which is a no trade zone. So, I waited for a clear direction.
On the 4H timeframe, I saw that TAG has rejected from the no trade zone (check second screenshot) making a higher high. So, I used the Fibonacci tool to check my entry. You guys know that for entry, I use Yellow & White box. In the screenshot, you can see that I used white box for entry. A question may arise why I didn’t use yellow box for entry? Well, because I checked Coinglass liquidation data also. Coinglass showed me that there's huge long liquidations inside the white box. So, I put a buy order on that box & waited till the price came there.
As you all know that white box is a box where price consolidates for sometime. So, price came to that box, consolidated for about 2.5days and today it went to the moon. You won't get a chance to buy, so buy coins inside the accumulation zone & wait for a breakout.
THANK YOU FOR YOUR TIME 🫡