📈 Technical Analysis: Compound (
$COMP )
Market capitalization: $789M.
COMP has been moving within a sideways channel for quite some time, providing opportunities for short-term trades.
How to trade❔
Trading within the channel:
💬 When a reversal candlestick pattern forms near support, open a buy position. Stop-loss beyond the channel boundary. Profit target before the resistance level. Risk/reward ratio should be at least 1.5:1.
💬 On a bounce from resistance, open a sell position. Stop beyond the channel boundary. Target is support. These trades can be repeated while the price remains in t